$0.52
1H
-0.39%$0.0020
24H
2.10%$0.0107
7D
1.23%$0.0063
30D
-1.54%$0.0081
XRP was released in 2012 as a native cryptocurrency for RippleNet – a global payment network that scores hundreds of financial institutions. The purpose behind creating XRP was to build “the Internet of value” and enable cheap and more scalable transactions. XRP can be sent directly without needing a central intermediary, making it a convenient instrument in bridging two different currencies quickly and efficiently. Besides, XRP transactions rely on a consensus protocol in order to validate account balances and transactions on the system.
XRP runs on XRP Ledger, maintained by various independent participants of a global “XRP Community”. Every XRP transaction requires an agreement from the independent validator nodes. This agreement is called consensus and serves as the final and irreversible settlement. The ledger reaches a consensus on all transactions every 3 to 5 seconds.
The total supply makes up 100 billion XRP tokens.
For reasons best known to Ripple and CEO Garlinghouse, the deal to acquire Fortress Trust is now off despite enthusiasm shown weeks ago.
Ripple’s expansion plans come months after its partial victory in its ongoing legal battle with the US SEC.
The recent prediction by Wells Fargo analyst Shannon Thorpe that Ripple XRP could skyrocket to as high as $500 in the next four to seven months has ignited a flurry of discussions and debates in the cryptocurrency community.
Top voices in the crypto industry have continued to criticize the US government and its approach toward regulation.
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