Ripple token or XRP is an independent digital asset, native to the Ripple Consensus Ledger. Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native currency (XRP).
Released in 2012, Ripple purports to enable “secure, instant and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.
The BTC chart shows a “golden cross” occurrence which demonstrates that the Bitcoin price can shoot over 150% from the existing levels in the next six months.
It is expected that Ripple’s XRP, the top cryptocurrency by many adoption rankings, could gain two-thirds of its current price as we are getting closer to the beginning of 2021.
In the interview with CNN, Ripple CEO Brad Garlinghouse answered a number of questions on the issues that are widely discussed in the crypto community. He also said that his words about IPO in 2020 were misquoted.
The bears seem to be taking control of the crypto markets as Bitcoin and altcoins, including Ethereum and XRP, are losing heavily to wipe out all the last week’s gains. But technical indicators suggest good days ahead of this market correction.
Ripple-backed MoneyGram has announced that the new service called FastSend, that was created to allow customers to send money directly to the phone numbers of recipients, will be based on Visa and not on RippleNet or XRP.
Binance is extending partnership with Simplex to provide more fiat payment gateways and eliminate traction. The exchange seems to be aiming at global fiat to crypto payments dominance.
Ripple’s XRP prices experience a crash on the BitMEX derivatives exchange and but quickly recovered. BitMEX CEO Arthur Hayes has been in the recent times quoted disapproving XRP openly in the social media.
Ripple CEO Brad Garlinghouse has recently given an interview to CNN’s Julia Chatterley. It is expected that viewers can watch his interview on “First Move” on February 17.
After a brutal -50% performance in 2019, XRP price has bounced back to start off the new year. Since the $0.17 bottom established in December 2019, the price of the third-largest cryptocurrency has rallied by 75% to over $0.30.
Ripple’s XRP Ledger fundamental changes have been proposed. The community believes it should be possible to delete XRPL accounts within the Ledger.