What is Ripple?
XRP is the native cryptocurrency of the XRP Ledger (XRPL), an open-source, distributed ledger protocol designed to enable fast, efficient, and cost-effective cross-border payments. It was launched in 2012 by Ripple Labs and aims to provide financial institutions with a reliable and scalable network for transactions.
Whitepaper: https://www.lcx.com/xrp-mica-white-paper/
How does XRP work?
XRP functions as a bridge currency within the XRP Ledger, enabling transactions between different fiat currencies and cryptocurrencies. The network uses a consensus protocol that allows validators to reach agreement on the validity of transactions within seconds. This enables fast and secure transfers without the need for mining.
The Token
Ticker: XRP
Category: Cryptocurrency
Blockchain: XRP Ledger
Protocol: Ripple Protocol Consensus Algorithm (RPCA)
Year of launch: 2012
The Technology Behind XRP
The XRP Ledger uses the Ripple Protocol Consensus Algorithm (RPCA), which validates transactions through a network of independent validators that reach consensus in 3 to 5 seconds. This setup enables fast transaction processing with low fees, making it attractive to financial institutions aiming to optimize cross-border payments.
The XRP Ecosystem
The XRP ecosystem includes various products and services designed to enhance payment efficiency:
- RippleNet: A global network of financial institutions using Ripple's technology for fast and reliable cross-border payments.
- On-Demand Liquidity (ODL): A service that uses XRP to provide instant liquidity for international transactions, reducing the need for pre-funded nostro accounts.
Who Founded XRP?
XRP and the XRP Ledger were co-developed by engineers David Schwartz, Jed McCaleb, and Arthur Britto. Shortly after the launch of the XRPL, McCaleb, Britto, and Chris Larsen founded a company called OpenCoin in September 2012, which was later renamed Ripple Labs.
Price at this moment
24h ago
€1.95
The value of ripple 24 hours ago
24h highest price
€2.02
The highest value of ripple the last 24 hours
24h lowest price
€1.85
The lowest value of ripple the last 24 hours
24h difference
-€0.06122535
The value in which ripple has dropped or increased the last 24 hours
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
For more information about this crypto asset, please refer to the official source: https://www.lcx.com/xrp-mica-white-paper/
Before trading, please also read the general risk warning about investing in cryptoassets:
Cryptocurrencies, including XRP, are volatile and carry risks. The value of XRP can fluctuate significantly, and investments may lead to financial loss. Always do your own research and only invest money you are prepared to lose.
The BTC Direct disclaimer van be found here: https://btcdirect.eu/de-at/disclaimer