XRP
Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.
Ripple was originally founded by a single company, Ripple Labs, and continues to be backed by it, rather than the larger network of developers that continue bitcoinās development. It also doesnāt have a fluctuating amount of its currency in existence. Where bitcoin has a continually growing pool with an eventual maximum, and Ethereum theoretically has no limit, Ripple was created with all of its 100 billion XRP tokens right out of the gate. That number is maintained with no mining and most of the tokens are owned and held by Ripple Labs itself ā around 60 billion at the latest count.
Even at the recently reduced value of around half a dollar per XRP, that means Ripple Labs is currently sitting on around $20 billion worth of the cryptocurrency (note: Rippleās price crashed hard recently, and may be worth far less than $60 billion by time you read this). It holds 55 billion XRP in an escrow account, which allows it to sell up to a billion per month if it so chooses in order to fund new projects and acquisitions. Selling such an amount would likely have a drastic effect on the cryptocurrencyās value, and isnāt something Ripple Labs plans to do anytime soon.
In actuality, Ripple Labs is looking to leverage the technology behind XRP to allow for faster banking transactions around the world. While Bitcoin and other cryptocurrencies are built on the idea of separating financial transactions from the financial organizations of traditional currencies, Ripple is almost the opposite in every sense.
XRP by Ripple price can be found on this page alongside the market capitalization and additional stats.
Bitcoin News / Bitcoinist - 2 years ago
The Ripple Vs. SEC legal battle has been creating tension for XRP as the court sittings could end this year. The CEO of Ripple has been optimistic that the lawsuit could end earlier in 2023. However, the Ripple native token XRP has been trying to wea...
Bitcoin News / Google News Bitcoin - 2 years ago
Crypto Market Analysis: Top Predictions for Bitcoin(BTC), Ethereum(ETH) & Ripple(XRP) for February 2023& & Coinpedia Fintech News
Bitcoin News / Google News Bitcoin - 2 years ago
Crypto Whales Move Over $317,000,000 in Bitcoin, Ethereum, XRP and Polygon ā Hereās Where Itās Headed& & The Daily Hodl
Cryptocoins News / The Cointelegraph ā - 2 years ago
Bitcoin and select altcoins continue to consolidate near their recent highs, increasing the possibility of an upside breakout. After two weeks of a stupendous rally, B...
Cryptocoins News / Blockchain - 2 years ago
A phoney staking scheme is targeting XRP investors. XRP staking websites and emails have been faked. The swindle promises 12%ā27% profits. (Read More)
Cryptocoins News / The Cointelegraph ā - 2 years ago
Bitcoin and the wider crypto market began to correct after the bullish momentum that drove last weekās rally to year-to-date highs started to fizzle out. Bitcoin (BTC)...
Cryptocoins News / The Cointelegraph ā - 2 years ago
Online fraudsters attempt to lure in XRP investors by offering fake staking services with an ROI of up to 31% for a token that is not based on proof-of-stake consensus....
Bitcoin News / Google News Bitcoin - 2 years ago
Top Analyst Forecasts Imminent XRP Surge, Says Bitcoin and One Low-Cap Altcoin Set To Rally& & The Daily Hodl
Bitcoin News / Bitcoinist - 2 years ago
The XRP Ledger is an open-source, decentralized, and permissionless network. It facilitates several payments-related applications such as DeFi, micropayments, and even NFTs. Over the years, its native token XRP has meteorically grown to be among the...
Bitcoin News / Google News Bitcoin - 2 years ago
Markets: Bitcoin edges higher, Ether little changed; XRP, Polkadot post strong gains in mixed market& & Yahoo Finance
Bitcoin News / Google News Bitcoin - 2 years ago
Mooners and Shakers: āItās mineā ā long-term Bitcoin holders remain strong; XRP and Lido ...& & Stockhead
Cryptocoins News / The Cointelegraph ā - 2 years ago
The rally in stocks could be giving Bitcoin price a boost and the crypto market could see more fireworks if the Fed confirms investor expectation that rate hikes will slow down....
Bitcoin News / Bitcoin.com - 2 years ago
Xrp moved to a multi-month high on Jan. 23, as market optimism grew regarding a lawsuit between Ripple and the United States Securities and Exchange Commission (SEC). Following comments last week from Ripple CEO Brad Garlinghouse, many have bought th...
Bitcoin News / Bitcoinist - 2 years ago
The XRP Ledger will see a new amendment go live today, without the explicit approval of Ripple (as always). The āCheckCashMakesTrustLineā amendment will be automatically activated on the XRP Ledger today with a majority of 27 out of 34 vo...
Bitcoin News / Google News Bitcoin - 2 years ago
Crypto Price Warning: āGlobal Financial Meltdownā Could Be About To āSmokeā Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana& & Forbes
by COINS NEWS - 2 years ago
There have been many rumours about the Ripple-SEC case. By those rumours the case would have already been wrapped up, Ripple would have won, etc etc. That said, the facts on the case right now seem to imply that the SEC is on the losing end. While I...
Bitcoin News / Google News Bitcoin - 2 years ago
Why A Sudden Crypto Price Surge Has Added $200 Billion To Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana In 2023& & Forbes
Cryptocoins News / The Cointelegraph ā - 2 years ago
Bitcoin and altcoins appear to have shaken off the Genesis bankruptcy news by bouncing off their immediate support levels and rallying higher. The United States equiti...
Bitcoin News / Bitcoinist - 2 years ago
Token Unlock, a platform that uses on-chain data to track vested tokens and inform users of upcoming unlock events, issued a 2022 annual report today showing the highest estimated locked value tokens per the current market price.
The report shows 15...