$1.10
1H
0.98%$0.0107
24H
1.43%$0.0155
7D
1.08%$0.0118
30D
17.4%$0.1627
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.
The Federal Reserve Chair, Jerome Powell, recently stated that his institution had no intention of banning cryptocurrencies. While this is a positive sign for the regulatory future of cryptocurrencies, we are still in a hazy area.
RippleNet, which is a network of banks and payment providers that partnered with Ripple to allow users to access funds fast, is one of the reasons why the token has exploded recently in Australia.
Bitcoin price appears to take temporary respite after a five-month rally. However, analysts still remain bullish for the near future.
The BitPay integration will boost sales for Wix merchants while offering broader crypto payment options to customers. BitPay will facilitate payments in 12 different cryptocurrencies.
With so many promising and fully regulated platforms offering state-of-the-art trading features coupled with security, low fees, and additional yield opportunities, make sure to choose your pick wisely to leverage the ongoing #Uptober market trend.
