It is one of the largest digital currencies in the world.
XRP is currently the fourth largest cryptocurrency project by market capitalization, with a total market value of $26.73 billion. The price of one XRP unit is low due to the large number of tokens in circulation (over 45 billion), and many investors hold some of its tokens in their investment wallets. The relatively low price of the token, compared to the other top 10 projects in this field, is extremely attractive.
Who are the founders of Ripple?
The first version of the protocol was created in 2004. At this stage (long before Bitcoin was created), the project had little in common with cryptocurrencies as we know them today.
The real history of Ripple begins in 2013, when Jed McCaleb, the creator of the eDonkey network, invited a large number of world-class investors to invest in the creation of Ripple Labs.
Chris Larsen and Jed McCaleb founded Ripple Labs. Larsen, a businessman and privacy activist, is one of the wealthiest entrepreneurs in the cryptocurrency world. McCaleb, a well-known entrepreneur and programmer, co-founded several major cryptocurrency projects, including Ripple, Stellar, and eDonkey, as well as the largest cryptocurrency exchange in the world at the time, Mt. Gox.
What makes XRP unique?
XRP was originally designed to make its transactions much faster and cheaper than other cryptocurrencies, making it more suitable for everyday payments. However, it is rarely used in this way, as its developers have shifted their focus to the institutional use of XRP.
Its ability to exchange for any currency or value (like gold) with a low, standardized fee is a significant advantage offered by XRP.
What gives XRP value?
XRP derives its value from various factors, but mainly from Ripple's ability to work with institutions and its ability to exchange quickly and cost-effectively for any currency or asset.
How many XRP tokens are in circulation?
Currently, XRP has 45.404 billion tokens in circulation, while its total supply is 100 billion XRP tokens.
Nevertheless, Ripple Labs initially owned 55 billion XRP$XRP
