Ripple (XRP)

0.00007807 BTC
$ 0.59 USD
-10.41 %

Ripple News

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About Ripple
Ripple Price
What is Ripple?
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Ripple Price

$ 0.59 USD
0.00007807 BTC
24hr Volume
$ 478,812,000.00 USD
Market Cap
$ 23,228,337,046.00 USD
1 Hour Change
-2.01 %
24 Hour Change
-10.41 %
7 Day Change
-27.07 %

What is Ripple?

As of January 2018, Ripple is the third largest cryptocurrency (by market cap) after Bitcoin and Ethereum. Ripple acts as a cryptocurrency (Ripple XRP) as well as a payment network (RippleNet). Ripple as a payment network is designed to make it easy to convert almost all kinds of currency to other currencies in a matter of seconds. At present, Ripple has focused on working with banks and other financial institutions to remove the need for conventional payment systems, which historically take much longer to process.

Ripple is cash flow positive and holds a huge store of XRP that it releases periodically into the market. Ripple supports three liquidity arrangements between banks and financial institutions. These liquidity arrangements include:
  • A Bank to Bank flat currency relationship, whereby one bank that is holding a liquidity position with another bank uses that liquidity position to enable payments between the two banks.

  • Third-party liquidity arrangement whereby the two banks/financial institutions authorize a different third-party institution to supply the FX fluidity to deliver payments.

  • Settlement of payments through digital assets (XRP) is the latest and most efficient way. This only takes 4 seconds. It is a fast, low-friction bridge asset for making transactions between financial institutions.

Ripple Centralization

Ripple is largely controlled by a single company, San-Francisco based, Ripple. It is connected to legitimate banks and companies such as UBS, Santander (SANPRA) and Bank of America (BAC). Ripple was launched in 2012, and it has a max supply of 100 billion XRP, with 55 billion held in escrow by the parent company.

Ripple Proof of Correctness

Ripple uses a “proof of correctness” to maintain accuracy and agreement across the network. The Ripple Protocol Consensus Algorithm (RPCA), is used by all nodes to determine the correctness of a transaction. Once consensus is reached, the present ledger is considered “closed” and marked as the last-ledger closed. If the agreement algorithm is successful, and there is no split in the network, then the last-closed ledger depicted by all the nodes is identical.

Mining Ripple

Although Ripple is regarded as a cryptocurrency, it cannot be mined. Other cryptocurrencies are mined using specific software that miners purchase and install on their PCs. On the other hand, Ripple is a regular pre-mined digital currency owned by an enterprise. Supposedly, there is no mining device known for mining Ripple in the market. To invest in Ripple XRP, you need to purchase tokens from the available partnered exchange platforms.

Ripple Roadmap 2018

Ripple (XRP) is expected to grow in value in 2018 because banks and payment providers like xRapid are still in the nascent stages of adoption. Ripple has yet to find wide-spread applications and the new growth phase is likely to begin in 2018, resulting in greater institutional demand for XRP this year.

Ripple vs SWIFT

Since XRP could theoretically replace SWIFT as a system of payment due to its lower transaction fees and higher speed, SWIFT figures are often used to estimate the Ripple market opportunity size. SWIFT handles approximately $5 trillion per day. Thus, there should be around 100 billion XRP to support $5 trillion worth of transactions. And since XRP is a more effective bridge currency, this could place one coin at around $50 USD. This example, though a little extreme; shows why some people are betting on Ripple as an investment.

Ripple News 2017

Ripple recorded up to $11 billion dollars’ worth of transactions in the 2nd quarter of the year 2017. XRP was also listed on 25 new exchanges in 2017. XRP finished the second quarter of 2017 priced at $0.263, which translates to a 1,159% increase from the first quarter of 2017. From that time to date, the amount is 3,977% higher. Ripple is now listed on over 30 exchanges.

On the 12th – 13th of December 2017 alone, XRP leapt by 84% from $0.27 to $0.51.

Ripple News January 2018

More than 100 institutions have partnered with Ripple. The price of XRP has been fluctuating around $1.60, somewhat due to uncertainty around the supply of XRP. The Ripple Company owns more than 60% of all existing XRP coins. Investors fear that the company could flood the market and the asset would depreciate instantaneously. Brad Garlinghouse addressed the issue, citing $55 billion XRP in escrow as an indicator of price stability.

In early 2018 Ripple briefly surpassed Ethereum in market cap.

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