What is XRP?
XRP is a type of cryptocurrency developed by Ripple to serve as a scalable and less expensive alternative to other payment platforms and digital assets already in operation. XRP runs on the payment platform RippleNet, which exists on top of the distributed database known as XRP Ledger. Ripple operates ReppleNet, but the XRP Ledger is open-source and not built upon a blockchain.
As a payment platform, RippleNet operates in real-time as a gross statement system (RTGS) that enables monetary transactions to occur instantly worldwide. Though the XRP cryptocurrency is typically used on the XRP Ledger, it’s possible to use any valid currency to make transactions on the platform. New transactions are processed through XRP Ledger approximately every three to five seconds or whenever validators agree on the validity of an XRP transaction.
A global XRP community is currently responsible for maintaining RippleNet’s ledger. As a company, Ripple operates as an active member of this community but is not the only party involved. Ripple supplies a large number of validators to keep track of global ledger transactions, but other validators from financial institutions, universities, and several others are also actively involved in this process.
XRP is available for purchase on multiple exchanges, such as Coinbase, Kraken, Binance, and others. XRP is currently ranked as #3 by CoinMarketCap and is outranked only by Bitcoin and Ethereum. It can be stored in either a hot or cold wallet or on a cryptocurrency exchange that will be tasked with keeping track of your assets and protecting them.
Ripple’s concept as a payment platform was created by Ryan Fugger back in 2004. Still, it wasn’t until 2012, when Chris Larson and Jed McCaleb took over the project, that Ripple started undergoing construction. Ripple was initially known as OpenCoin but has since dropped that secondary moniker.
What are XRP Frequenty Asked Questions?
Where does XRP (XRP) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, XRP currently ranks in position 5 out of the thousands of cryptocurrencies. It is also important to consider XRP‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. XRP has a market cap of $ 12,682,235,558, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 638,938,426,011, Litecoin at $ 9,547,575,208, Ethereum at $ 162,455,860,907, Tether at $ 24,842,833,181, and XRP at $ 12,682,235,558.
What is the price of XRP (XRP) today (updated in realtime)?
The current price of XRP is $ 0.279344 in USD. (The price in Euros is 0,229450 €; and the price in Bitcoin is Ƀ 0.00000800 BTC.)
How has XRP (XRP) performed recently?
XRP‘s price has increased in the last 24 hours by 2.18%. This compares with a seven day change of 0.83%. The trading volume over the last 24 hours was $ 2,255,782,023. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is XRP (XRP) official website?
Links to XRP‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has XRP (XRP) performed well historically?
Here is a chart showing how XRP has performed historically.
Where Can I Buy XRP (XRP)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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