- 5XRP$ 0.62127411$ 33,479,574,474$ 1,429,590,09153,888,571,585 XRP-0.88%
The price XRP today is 0.62127411 USD, and the trading volume in 24 hours - 1,429,590,091 USD. The crypto asset has grown by -0.87984211% over the day. Currently, the coin’s market capitalization is 33,479,574,474 USD, and has 53,888,571,585 coins in circulation with the max supply of 99,988,188,647 coins XRP.
What is Ripple Cryptocurrency (XRP)?
XRP is a token used on the Ripple network to facilitate money transfers between different currencies. Existing settlement systems usually use US dollars as the common currency for converting between other currencies. This entails currency exchange fees and is time consuming, so wire transfers between accounts in different countries often take up to three days.
If you first transfer the transfer amount to XRP rather than USD, then the exchange fee is eliminated and payment processing is reduced to seconds.
Launched in 2013, XRP aims to complement traditional payments by moving transactions that occur today between databases controlled by financial institutions into a more open infrastructure.
XRP, one of the most ambitious cryptocurrencies to come out after Bitcoin, features a design that has sparked ongoing discussions about how blockchains can be designed and what use cases they should try to solve.
This is because XRP Ledger introduced a new way to manage the blockchain transaction and record system, which one proponent believes makes it more suitable for regulated organizations that must comply with strict money transfer laws.
XRP is a token used to transfer value across the Ripple network.
Unlike Bitcoin, where new coins are created (up to a limited level) as a reward for members offering computing power to support the blockchain network, Ripple has created 100 billion XRP coins from the start.
Ripple recently added a new feature through which the company issues 1 billion XRP each month through smart contracts (escrow) to help fund business transactions, incentivize customers and sell them to accredited investors. Any unused tokens will be returned for escrow.
The company, dubbed Ripple, is now serving as chief executive officer of the XRP Ledger funding and development. and plays a huge role in its development and the digital economy.
What is the difference between Ripple and XRP?
Today Ripple is a company, XRP Ledger is software, and XRP is a cryptocurrency. However, this was not always the case.
Both XRP Ledger, the software that enables XRP, and Ripple, the company founded to promote and develop XRP, have undergone a number of rebrands over the years in response to changing market dynamics.
For example, Ripple was founded in September 2012 as OpenCoin. Later in 2013, the startup changed its name to Ripple Labs, and at the end of 2015 settled on Ripple.
Likewise, the XRP Ledger was called the Ripple Open Payment System, the Ripple Network, and the Ripple Consensus Ledger (RCL) before it was renamed XRP Ledger.
XRP, by contrast, has always had the XRP ticker, although these cryptocurrency units were usually called “ripples” or “ripple credits” in the early days of the project.
Who Created XRP?
Unlike other cryptocurrencies, XRP has no famous creator or founder. However, there are a number of people who have participated in the creation of new technologies and related business structures.
These include founders of OpenCoin (now Ripple), technologist Jed McCaleb, who founded Mt Gox, the first successful cryptocurrency exchange, and Stellar, the software that XLM runs on, and Chris Larsen, founder of fintech companies E-LOAN and Prosper. McCaleb is credited with inventing a new technical design for the XRP Ledger.
Ripple's victory over the SEC could positively affect the XRP rate
How many XRP coins are in circulation? What is their price and course?
At the moment, the maximum supply price of XRP is 99,988,188,647 coins XRP, 53,888,571,585 XRP is in circulation.
Today the price of the XRP coin is 0.62127411 USD, with a daily trading volume - 1,429,590,091 USD, market capitalization - 33,479,574,474 USD.