XRP is the coin of the Ripple protocol. The coin was one of the fastest rising coins of 2017.
Follow the real-time ripple price
You can follow the ripple price every hour of the day, 365 days a year. In the live ripple graph above you can check out the current ripple rate. Adjusting the range is also possible, for example you can check out last month’s price movements. By clicking ‘All’, you will see the entire history of the ripple price.
The price that’s shown in the graph above is determined by taking the average of several international exchanges.
History of Ripple
Ripple is an American company that was founded in 2012 under the name Opencoin. In 2015 that name was changed to Ripple. The company developed the Ripple Transaction Protocol which enables banks to carry out (international) transactions with great speed.
The current payment system has many intermediaries. Transferring money from one bank to another is time and money consuming. If you want to transfer money to a family member abroad it’s very likely that the money will be handled by multiple banks before your family member receives the funds. For these kinds of cases, ripple was developed.
When two banks are both using the Ripple protocol an international (or national) transaction will be just a matter of seconds.
Ripple (XRP) price history
A purchase of 100 dollars worth of XRP on January 1st 2017 would have shown a return on those same coins for 36,000 dollars just a year later! Some more facts on the XRP price:
- 2012: XRP is established and enters the market at 1 cent (USD).
- September 2013: one XRP is worth 0.014 dollars, the highest since its launch.
- January 1st, 2017: XRP is off to a turbulent start with a price of 0.006 dollars.
- April 2nd, 2017: the XRP market cap passes 1 billion dollars.
- December 2017: the price of XRP exceeds 1 dollar.
- January 4th, 2017: XRP breaks its all-time high and is worth 3.65 dollars.
- May 2018: Ashton Kutcher donates 4 million dollars worth of XRP to Ellen Degeneres’ wildlife fund.
Will the ripple price stabilise?
It’s hard to tell whether or not the ripple price will stabilise, especially since ripple is very different from other coins like bitcoin. Ripple can’t be earned by mining it. The Ripple Foundation issues a maximum of 1 billion XRP every month. Unused coins are retrieved from the market.
How does this work exactly? The Ripple network was developed to make international payments faster and cheaper. For example: Imagine you want to transfer funds to Brazil- that money will be debited from your own bank account, transferred to a different bank (and perhaps even more banks) until it reaches a local Brazilian bank. This process takes up a lot of money and time.
When banks use the Ripple network, your own bank could simply buy XRP and transfer them directly to the local Brazilian bank. This process is almost instant and costs a lot less. The more banks use the Ripple network, the more demand for XRP, and this consequently drives up the price.
What can you expect from the ripple price?
We are often asked about our expectations for the price, unfortunately we don’t know what the future will bring. We simply can’t give any advice about this matter.
Having said that, we do have an idea about external factors that can influence the price. News reports and the sentiment of the community largely influence the prices in the crypto world. It has happened repeatedly in the past that the price increases when Ripple announces a big new collaboration. Other than that, the price often moves along with bitcoin’s price and the rest of the crypto market.
Only invest an amount that you can afford to lose
Last but not least, we always recommend investing an amount of money that you can afford to lose. In our opinion, investing in in cryptocurrencies or blockchain assets is one of the more interesting investments you can make, but equally it can be risky due to its volatile behaviour.