XRP stands as a pivotal cryptocurrency and the native token of Ripple, a fintech innovation aimed at revolutionizing global financial transfers and currency exchange. Developed by Ripple Labs, co-founded by Jed McCaleb and Chris Larsen in 2011, XRP was designed to enhance the efficiency, speed, and security of cross-border transactions. Unlike many cryptocurrencies, XRP was pre-mined, boasting a total supply of 100 billion tokens, a feature that distinguishes it from the likes of Bitcoin in terms of its creation and distribution mechanism. The live Ripple to EUR conversion is ā¬ 1.05.
The inception of Ripple, initially known as Ripplepay, dates back to 2004 by Ryan Fugger, which predates Bitcoin. However, it was the re-envisioning by McCaleb, Schwartz, and Britto in 2011 that led to the development of the XRP Ledger, laying the foundation for what XRP is today. Ripple underwent several rebrandings, finally adopting the Ripple name in 2015, which has since become synonymous with fast and efficient global payment solutions.
While often interchanged in casual discourse, XRP and Ripple are distinct entities. XRP is the digital asset that operates on the XRP Ledgerāa decentralized, open-source blockchain platformāwhereas Ripple is the technology company that leverages XRP to facilitate fast and low-cost international transactions. XRP's utility in Ripple's ecosystem underscores its role in providing liquidity and enabling real-time settlement across borders.
XRP's unique distribution model saw 80 billion tokens allocated to Ripple, with 55 billion of these tokens placed in escrow to manage supply predictably. The remaining tokens were distributed among co-founders and the development team, with provisions for monthly releases to control circulation. As of the last update, approximately 53% of XRP tokens are in circulation, highlighting a controlled approach to supply management.
XRP has faced scrutiny and legal challenges, notably from the U.S. Securities and Exchange Commission (SEC) and the Financial Crimes Enforcement Network (FinCEN), concerning its classification as a security and compliance with anti-money laundering regulations. Despite these challenges, including a significant lawsuit filed by the SEC in December 2020, XRP has remained a resilient asset in the cryptocurrency market, demonstrating significant price volatility but maintaining a strong market capitalization.
XRP distinguishes itself from Bitcoin through faster transaction times, lower costs, and a more energy-efficient consensus mechanism. Unlike Bitcoin's proof-of-work system, XRP uses a consensus protocol involving trusted validators, allowing for rapid and secure transaction validation. This efficiency has positioned XRP as a scalable solution capable of handling a large volume of transactions per second, far exceeding Bitcoin's capacity.
The XRP Ledger's consensus mechanism ensures secure and efficient transaction validation, making it a robust platform for financial transactions. Its scalability is evidenced by its ability to process up to 1,500 transactions per second. Moreover, XRP's low energy consumption, compared to the intensive energy demands of Bitcoin mining, marks it as an environmentally friendly digital asset.
The current price of 1 XRP in EUR is ā¬ 1.05.
The fastest, most convenient way to purchase Ripple is to purchase it on ICONOMI. We check Ripple live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Ripple by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Ripple is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Ripple, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the ātickerā filter to find out which public Crypto Strategies have Ripple in their structure.
Here you can read and comment on all posts made by Strategists about Ripple XRP. See all Ripple price predictions in real time and make the best use of their crypto knowledge.
Is this the dawn of a new crypto eraāor the calm before the storm?
Hereās whatās driving the action:
ā”ļø Trumpās pro-crypto policies ignite investor confidence.
ā”ļø ETFs simplify Bitcoin ($BTC) access, drawing institutional dollars.
ā”ļø Altcoins like $XRP, Solana ($SOL), and Dogecoin ($DOGE) follow suit with strong gains.
Read all the details on our latest Weekly Wrap šHERE
$XRP to the moon?
Now up 40% over the past 7 days and back up to 2nd largest holding in our portfolio...ššš
XRP's sudden price surge is being linked to SEC Chair Gary Gensler's statement suggesting that he may be leaving the SEC.
It's not even #Altseason yet, and it may take the $BTC dominance testing it's 2021 highs around 75% before the babies have the real time to shine.
One of our biggest portfolio asset $XRP is doing the most today!
Currently up over 17% in the past 24 hours.
Now we only wonder, will it finally breakout of its painful long range and melt faces? With Trump in the presidency, will the SEC woes finally come to a quicker end?
Whatever the answers, WAGMI! Send it! š š
Crypto Snapshot: Latest News and TrendsĀ Ā
By SYGNAL
š Market News:
š Regulatory News:
š Adoption and Usage:
š¼ Important Business Deals:
š£ļø Crypto Influencers:
š Other Interesting Information:
Solana Leading the Way!
Solana recorded a massive 11% gain last week, handily outperforming Ethereum and $XRP, thanks to a breakout above the key level of $164. SOLās rally has been driven by increased trading volume and a renewed interest in its network. This upward move signals a strong bullish trend, with $195 now in sight as the next key target. Solanaās consistent performance has set it apart as a leading altcoin, especially as it benefits from new network activity.Ā
Trading Tip: Use $166 as your anchorāif it holds, Solana has a good shot at $195. This surge in volume shows solid backing from buyers, making $SOL one to watch in this cycle.Ā
