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.
Cred unofficially indicated that it filed for bankruptcy protection “to maximize the value of its platform for its creditors”.
Ledger customers are now facing a significant increase in phishing attempts after a major leak of email and private information affected them in early 2020.
The driver of the crypto market known as uncertainty backed another popular altcoin’s growth. While the dollar index is falling drastically, global major commodities and fiat and cryptocurrencies traded against the US Dollar were able to close in green for the past week.
Ripple CTO said that the update would make it easier to find validators. Schwartz explained that performance is not the only criterion in the choosing process.
XRP has dropped approximately 17% while Bitcoin has rallied over 48% in the past twelve months.
In Q3 2020, MoneyGram continued to receive huge “market development fees” from its investors. Its major partner Ripple handed over $9.3 million over the period.
Ripple’s strong partner and Japanese financial giant SBI Holdings wants them to relocate to Japan as the blockchain startup faces major regulatory hurdles in the U.S.
In its latest update, Flare Finance announced that it will be launching six DeFi products as an all-in-one solution for investing. Thus, it will bring the higher utility of FLR tokens and XRP to the DeFi markets.
Bitcoin price has performed rather well during the pandemic in comparison to the Dow Jones that was down 0.80% year to date.
Ripple’s third annual report dubbed ‘Blockchain in Payments’ has shown encouraging growth of XRP digital asset adoption and the entire blockchain industry.
Ken’s idea to receive his salary on XRP over Japanese Yen will give him some added market advantage over time.
About 47.6% of the Ripple community members who participated in the poll said that they are ‘Extremely Likely’ to recommend the XRP coin to their family and friends.
According to Schwartz, project founders are not bound to have complete faith in their abilities and ideas. He indicated that by not having complete faith, they can make better decisions.
RippleNet customers using the on-demand liquidity (ODL) feature can ask for a Line-of-Credit by purchasing XRP from Ripple on a credit basis. This helps to instantly source capital required by businesses to grow their businesses at scale.
Ripple is considering leaving the U.S. and opting for Asia or Europe instead because of the unfavorable regulatory climate caused by U.S. regulators.