Ripple vs the United States Securities and Exchange Commission case may just get extended as the latter requested the Court to extend the expert rebuttal
Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.
Ripple was originally founded by a single company, Ripple Labs, and continues to be backed by it, rather than the larger network of developers that continue bitcoins development. It also doesnt have a fluctuating amount of its currency in existence. Where bitcoin has a continually growing pool with an eventual maximum, and Ethereum theoretically has no limit, Ripple was created with all of its 100 billion XRP tokens right out of the gate. That number is maintained with no mining and most of the tokens are owned and held by Ripple Labs itself around 60 billion at the latest count.
Even at the recently reduced value of around half a dollar per XRP, that means Ripple Labs is currently sitting on around $20 billion worth of the cryptocurrency (note: Ripples price crashed hard recently, and may be worth far less than $60 billion by time you read this). It holds 55 billion XRP in an escrow account, which allows it to sell up to a billion per month if it so chooses in order to fund new projects and acquisitions. Selling such an amount would likely have a drastic effect on the cryptocurrencys value, and isnt something Ripple Labs plans to do anytime soon.
In actuality, Ripple Labs is looking to leverage the technology behind XRP to allow for faster banking transactions around the world. While Bitcoin and other cryptocurrencies are built on the idea of separating financial transactions from the financial organizations of traditional currencies, Ripple is almost the opposite in every sense.
XRP by Ripple price can be found on this page alongside the market capitalization and additional stats.
Ripple (XRP) News
In a recent report by the eToro trading platform, XRP emerged as the most popular cryptocurrency in Q3 2021. Ripple has partnered with Digital Pound
This satellite stock has a better one-year performance than Ripple’s Bitcoin Cash, Litecoin and XRP – Globalstar (GSAT)
Globalstar is a telecommunications company that derives revenue from the provision of mobile satellite services, which are typically used by customers where existing terrestrial wireline and
Ripple, the financial technology company best known for the cryptocurrency XRP, will oversee the development of the digital British pound in an effort to launch
Key Support level: $1 Key Resistance level: $1.2 The XRP price action is caught between support and resistance or $1 and $1.2. The pressure is
XRP traded 1.31% higher at $1.13 over 24 hours at press time. What’s Moving? The cryptocurrency associated with Ripple Inc has appreciated 6.35% over a