|Original author(s)||Arthur Britto, David Schwartz, Ryan Fugger|
|Operating system||Server: Linux (RHEL, CentOS, Ubuntu), Windows, macOS (development only)|
|Type||Real-time gross settlement, currency exchange, remittance|
Released in 2012, it was created by the U.S.-based technology company Ripple Labs Inc. and validated by independent servers. The currency that is traded is known as XRP (a cryptocurrency). By early April 2021, its value rocketed to a three-year high (above $1, despite regulatory concerns).
XRP currently has 45,404 billion tokens in circulation, while its total supply counts 100 billion XRP tokens. Though, Ripple Labs initially owned 55 billion XRP tokens, with the ability to sell 1 billion per month.
The Ripple platform allows fast and cheap digital transactions. XRP can be purchased on various exchanges such as Bitstamp, Kraken, and GateHub. Several US exchanges delisted or temporarily halted XRP trading, after the Securities and Exchange Commission launched enforcement actions against Ripple.
How Ripple Works. The Ripple network does not run with a proof-of-work (PoW) system like bitcoin or a proof-of-stake (PoS) system like Nxt. Instead, transactions rely on a consensus protocol in order to validate account balances and transactions on the system.
But RippleNet, with the help of the XRP token, has made an impact, with more than 300 financial institutions in at least 45 countries signing on to use the platform.
Ripple owns about 6.4 billion XRP, and Garlinghouse and Larsen also own a good chunk of it. Another 48 billion XRP are held in reserve, for periodic sales. This difference may be why the SEC is claiming XRP is a security, not a currency.
Ripple – or XRP – prices surged in 2021, but had not yet reached the heights from late 2017, making this digital coin different from other cryptocurrencies. … This legal action caused the XRP price to plummet from around 0.70 U.S. dollars to 0.20 U.S. dollars.
Sharia, Sharia law, or Islamic law is a religious law forming part of the Islamic tradition. … According to Sharia, investments which are in accordance with the Islamic Principles are called Shariah-compliant.
Used by large financial institutions.
Large enterprises can also use Ripple as a transaction platform. Santandar, Axis Bank and Yes Bank are a few using this network, demonstrating it already has larger institutional market adoption than most cryptocurrencies.
3 billion USD (2021)
XRP – which is the actual cryptocurrency – is a token which is used on the Ripple network to facilitate transfers of money between different currencies. Existing settlement systems generally use US dollars as a common currency for converting between other currencies.
Nano (NANO) Nano is free, fast, and uses considerably less energy than Bitcoin and many other cryptocurrencies. It has been around since the end of 2015 and has a relatively small carbon footprint even now. It is also scalable and lightweight as it doesn’t rely on mining.
While many people think of crypto coins as only a currency, it’s useful to think of crypto as a token that can power or enable other apps on the platform. For example, Solana can power smart contracts, decentralized finance apps, NFTs and more.
Dogecoin is a P2P open source cryptocurrency mainly used to reward people on Twitter and Reddit for sharing quality content. Unlike other crypto currencies that are deflationary and have limited supply, Dogecoin is an inflationary coin because of its unlimited supply.
|Time of Last Value||12/7/2021 7:43:00 AM|
|1 Day Range||0.8153-0.84411|
Coinbase has quickly become the best place to buy XRP. All you need to do to buy on Coinbase is create an account and then add a bank account or debit card. Many crypto traders and investors prefer to use Coinbase because of the high priority that they place on security.
Larsen’s personal stake is 5.19 billion XRP, giving him a 17% stake in Ripple. According to the exchange rate for XRP as of January 1, 2018, this means his net holdings are worth $37.3 billion, launching him to the 15th spot on the list of richest Americans.
It has partnerships with over 300 financial companies
Hundreds of financial companies across more than 40 countries have signed up to use Ripple.
Bitcoin was developed as a digital decentralised currency with the aim of paying for goods and services. XRP, on the other hand, was created for banks and payment networks as a means of payment settlement, a money transfer system, and currency exchange.
Ripple — the company that developed the software that the XRP (CRYPTO: XRP) network runs on — could burn a sizeable portion of the coin’s total supply. … According to CoinMarketCap data, this translates into nearly $66 billion, or roughly 105% of the current circulating supply or 47.8% of the total supply.
But John Willock, CEO of Tritum, a diversified crypto services provider, said that if XRP ends up being designated a security, “it would very likely render the asset untradeable for most exchanges and industry participants.
In December, the SEC sued Ripple and two of its top executives for seven years of distributions of the cryptocurrency XRP which the agency labeled as illegal unregistered securities trades. … The suit seeks to enjoin the registration of XRP as a security and preclude Ripple’s executives from participation in the market.
Originally Answered: Can Ripple reach on $10? No way. … XRP, also called Ripple coin or simply Ripple, is the actual token, Ripple’s digital asset. XRP is used on the Ripple community to facilitate money transfers between completely different currencies.
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