XRP XRP Price
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XRP Price chart
Ripple (code: XRP)
Founded Date: 2012
Ripple(XRP) - Coin Trading Data
|Value 24h low||$0.5065|
|Value 24h high||$0.5132|
|Trade Volume for 24h||$317.87M|
|Current Circulating Supply||53.25B|
|ICO Price and ICO ROI||—|
|Price Change 24h %||-0.6953%|
Ripple(XRP) ATH - All Time High Price
|XRP ATH Price||$3.4|
|Days Since ATH||2086|
|ATH Date||Jan 7, 2018|
|All Time High %||14.96%|
Table of contents
Ripple is network that uses the blockchain to make fast and safe payments between individuals and companies. Ripple can reserve partners' funds, and regularly give them a reward for maintaining liquidity.
Since no physical resources or capital are expended to mine and validate XRP, its value is provided only by its demand. A fixed number of coins is counteracting inflation. Storing Ripple does not guarantee dividends, but it is still possible to consider Ripple a digital coin more than cryptocurrency.
Ripple operates using its own Ripple Protocol Consensus Algorithm. It connects peer-to-peer nodes that can use various fiat currencies or cryptocurrencies, exchanging them with each other with the help of XRP token. The Ripple payment gateway system itself is an alternative financial method for banks that is more secure, faster and cheaper than the traditional method.
How Ripple Got Started
Mining Ripple is needless, because the developers have released 100 billion coins at once, which are gradually destroyed through transactions that automatically increase in value. Since the mechanism is based on charging a transaction fee of 0.00001 XRP, this means that the fee taken from the user will be destroyed and the total number of coins will steadily decrease.
XRP is a native Ripple coin. One XRP is subdivided into one million units, known as drops. The coin's emission amounts to 100 billion, all of which were issued at the launch of the network: 65% of all XRP was credited to an account by Ripple Labs, while the remaining 35% went into free circulation.
XRP can be purchased on most exchanges and trading platforms. Its transfers, in addition to the user's address, also require a so-called destination tag, which is generated in the wallet. XRP storage and transactions are supported by most popular multicurrency wallets.
History of Ripple
- In 2005, Canadian programmer Ryan Fugger launched the first iteration of a system called RipplePay.com, which didn't become very popular.
- In 2011, Fugger delegated one of the management positions in his company to cryptographer Jed McCaleb. That man recruited David Schwartz and hired Arthur Britto as development manager.
- In 2012, McCaleb created OpenCoin, and Chris Larsen became its CEO, while Fugger left the project.
- In 2013, OpenCoin changed its name to Ripple Labs. The company's current CEO is Brad Garlinghaus, who replaced Chris Larsen.
- In 2014, McCaleb left Ripple Labs and started his own project called Stellar. In an agreement with the team, he received nine billion XRPs, nearly 19% of the coin's total issuance. The funds were paid out over the next eight years in installments, and McCaleb made his last sale in July 2022.
Ripple Advantages and Disadvantages
The fundamental purpose of Ripple is the creation of a global network in which clients can actively exchange digital assets. The developers prioritize increasing processing speed and transaction capacity with reduced fees.
|Transaction fees. The price of a standard transaction on the Ripple protocol is about 0.00001 XRP, which means that the transaction fee is very low or almost free.||Centralization. One of the main reasons the Ripple project is criticized is its centralization. Ripple Labs controls the majority of all XRP coins. Moreover, Ripple company itself assigns and approves the network's validators. In addition, the founders of the project budgeted 20 billion XRP for themselves at the time of launch.|
|Partnerships. Ripple is tested by many major financial institutions and programs. This is one of the key reasons why Ripple is popular with investors.||Focus on big corporations. Many large corporations are already using Ripple to lower their transaction costs and provide better services. But Ripple may not offer many benefits to regular people, and most of the features and technology were created for banks and financial institutions.|
|Team. The Ripple project is backed by a very talented team with a good mix of experience and skills, and in this industry, an experienced team is crucial in achieving success.||High competition. The field of international transfers is very attractive for many cryptocurrency projects. That's why Ripple has many competitors like Stellar (XLM), which are targeting this field.|
|Transaction speed.Ripple transactions are way faster than traditional transfer methods.||Absence of mining opportunities|
Ripple Technology Use
- Electronic billing for B2B payments. Ripple provides corporate banking and SMB customers with a differentiated offering. An unlimited amount of data can be attached to each payment.
- International supply chain payments. Ripple can perform real-time, accurate, timely transactions with security of payment and delivery.
- Global currency account. With the Ripple network, banks can offer a single global currency account to their corporate clients, allowing them to use a single pool of liquidity for international transactions.
- International bill pay. Payments to foreign businesses require an international payment to be sent to an individual in the recipient country, who will then send a domestic payment to the local business. This process is non-transparent, expensive, unpredictable, and is sent via batch transmission. Ripple eliminates the existing service gap by offering an international bill payment system with complete transparency, low cost and immediate confirmation.
Ripple and Travelex Bank in Brazil
Travelex Digital Bank was the first to be registered and approved by the Brazilian Central Bank for foreign currency-only transactions. It is working to simplify client access to international finance through cross-border money transactions, ATMs and multi-currency prepaid cards. Ripple's digital XRP asset will be used to allow clients to send money instantly with very low transfer costs and without having to hold pre-formed capital in the destination country.
Travelex will initially process operations between Mexico and Brazil, but developers future plans include expanding the list of countries and payment types including domestic transactions and large scale settlements between small and medium sized businesses.
Q&A For Ripple Cryptocurrency
How much is a one XRP worth now?
1 XRP worth $0.5086 now.
What is the price of XRP?
The price of XRP is $0.5086.
What is the XRP max supply?
The max supply of XRP is 99.99B.
What is the XRP stock symbol or ticker?
The stock symbol or ticker of XRP is XRP.
How many XRP coins are there in circulation?
There are 53.25B coins in circulation of XRP.
What is the exchange rate of XRP(XRP)?
The exchange rate of XRP is $0.5086.
What was XRP's trading volume in 24 hours?
XRP's 24-hour trading volume is $317.87M.
What was the highest price paid for XRP?
XRP reached a record high of $3.4 on Jan 7, 2018
XRP Exchange Rates on Trading Markets
|#||Exchange||Pair||Price||24h volume||Volume %||Updated|
|1||Binance||XRP/USDT||$0.5083||$50.1M||12.92%||22 minutes ago|
|2||Upbit||XRP/KRW||$0.515||$30.84M||7.95%||6 minutes ago|
|3||BiONE||XRP/USDT||$0.5086||$27.15M||7%||a minute ago|
|4||Bithumb||XRP/KRW||$0.5145||$16.85M||4.34%||7 minutes ago|
|5||BYDFi||XRP/USDT||$0.5081||$15.03M||3.88%||27 minutes ago|
|6||BitMake||XRP/USDT||$0.5081||$13.35M||3.44%||12 minutes ago|
|7||DigiFinex||XRP/USDT||$0.5089||$11.44M||2.95%||12 minutes ago|
|8||Bitget||XRP/USDT||$0.5089||$10.94M||2.82%||14 minutes ago|
|9||Bitrue||XRP/USDT||$0.5091||$9.11M||2.35%||12 minutes ago|
|10||Coinbase Exchange||XRP/USD||$0.5078||$9M||2.32%||41 minutes ago|
|11||Bitforex||XRP/USDT||$0.5089||$8.97M||2.31%||14 minutes ago|
|12||Bybit||XRP/USDT||$0.5089||$7.77M||2%||13 minutes ago|
|13||Paritex||XRP/USDT||$0.4215||$7.34M||1.89%||a year ago|
|14||MEXC||XRP/USDT||$0.5091||$6.87M||1.77%||11 minutes ago|
|15||SecondBTC||XRP/USDT||$0.5073||$6.66M||1.72%||4 hours ago|