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Ripple is a catch-all term for the cryptocurrency platform, the transactional protocol for which is basically XRP, in the same way as Ethereum is the name for the platform that supports Ether exchanges. Like the other cryptocurrencies, Ripple is based on the concept of a distributed ledger network, which calls for several participants to take part in transaction validation rather than a single centralized authority. This allows transactions all around the world, and transfer fees are much lower than with bitcoin and other cryptocurrencies. Unlike other cryptocurrencies, XRP transactions are extremely fast and don't need to wait for a usual confirmation.
Ripple was developed and is still supported by a single firm, Ripple Labs, instead of the wider network of developers that contribute to bitcoin's development.
It also doesn't have a variable amount of its currency in circulation. Whereas bitcoin has a constantly expanding pool with an ultimate maximum and Ethereum potentially has no limit, Ripple was founded with all 100 billion XRP tokens immediately. That amount is maintained without mining, and the majority of the tokens — over 60 billion at the last count — are owned and kept by Ripple Labs.
Regardless of the XRP price that has already dropped to below half a dollar, Ripple Labs is still holding over $16 billion worth of the cryptocurrency. Ripple Labs is seeking to use the XRP technology to speed up financial transactions globally. While Bitcoin and other cryptocurrencies are created on the concept of isolating financial transactions from the financial organizations of traditional currencies, Ripple is nearly the polar opposite in every way. This page contains the XRP by Ripple price, as well as the market capitalization and other statistics.
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