Mar 21, 2018 - 10:44:01 AM UTC
Value and price movement of XRP is different in USD and BTC markets.
Price has moved 2.92% (USD) or -3.50% (BTC) in the last 24h.
Market Cap Rank: 3. of 1000+
Ripple trading volume was 652,484,000 USD in the last 24h with circulating supply of 39,094,094,840 XRP.
Ripple (XRP) Price graph
Ripple (XRP) price in fiat
About Ripple (XRP)
Ripple is the name for both a digital currency (XRP) and an open payment network within which that currency is transferred.
Ripple provides global financial settlement solutions to enable the world to exchange value like it already exchanges information – giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly, instantly and with certainty of settlement. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join the growing, global network of financial institutions and market makers laying the foundation for the Internet of Value.
It was created by San Francisco-based Ripple Labs in 2012. Ripple Labs is a venture capital-backed startup that has develops global payments solutions for financial institutions. In the past five years, Ripple Labs has created a real-time gross settlement system (RTGS), a currency exchange, and a payment network called RippleNet.
Ripple is used in the Ripple payment network to make transitions, pay for transaction fees and is necessary to be kept as a reserve in wallet addresses that uses the network. Ripple transactions take less than four seconds and over 1000 transactions per second can be processed on the network.
The Ripple protocol is designed to route every transaction to the cheapest price available in the market. There is a transaction fee to use the exchange and it must be paid in XRP, the native token of the network. This transaction fee is not collected by anyone; the XRP is destroyed and ceases to exist. Having a cost associated with ledger entries helps prevent ledger flooding attacks. Like Bitcoin, XRP has no counterparty risk and it is a digital asset with verifiable mathematical properties.
By design, 100 billion XRP were created at Ripple’s inception, and per the protocol rules, no more XRP can ever be created.