About
XRP is the asset of the XRP Ledger (XRPL) blockchain. Across the cryptocurrency industry, participants sometimes refer to the currency XRP as Ripple, or may see $XRP and Ripple (the company) as the same thing. According to Ripple, XRP and its underlying blockchain XRPL are separate from the technology company - which is focused on improving the payments landscape worldwide. However, Ripple uses XRP and XRPL in some of its solutions.
XRP is a borderless currency that runs on the open-source blockchain XRP Ledger. The asset was built as a solution to improve payments worldwide. Companies or platforms can incorporate the asset into their processes or use the currency alone, while individuals can also send and receive XRP.
Ripple uses XRP as part of its On-Demand Liquidity (ODL) solution (a component of its RippleNet ecosystem) to connect different assets. This essentially enables entities to conduct cross-border transactions, with each party involved receiving their native currency.
The Cointelegraph Price Index $XRP shows the live price of XRP today, as well as its price history and other data.
Origins of XRP
Bitcoin (BTC) emerged in 2009 as a method of transferring value unlike anything seen before - a web-based asset without borders that does not require intermediaries. Two years later, in 2011, Jed McCaleb, Arthur Britto, and David Schwartz - a trio of builders - embarked on a path toward the formation of a separate payment-focused digital asset that would expand upon the concepts seen in Bitcoin.
The XRP Ledger and its native asset XRP were launched in 2012. Ripple emerged later, although its name changed several times before becoming known as Ripple.
XRP Network
XRP transactions are processed faster than Bitcoin transactions, with blocks - or ledgers, as they are called on the XRPL - being confirmed in three to five seconds, compared to Bitcoin's 10 minutes. Stakeholders can also build on the XRPL blockchain. XRP transactions typically cost a small fraction of 1 XRP, which generally results in a value of less than a cent. Transaction fees are burned, slightly decreasing the amount of XRP in circulation.
The XRP Ledger is operated by validators through a system called the XRP Ledger Consensus Protocol. This format differs from other consensus mechanisms, such as the proof-of-work (PoW) seen in Bitcoin. Essentially, validators work together to produce blocks - or ledgers, as per the XRPL - with a superior agreement of over 80% required among participants for continuous progress on the XRPL network.
What to know when trading XRP
XRP has a tumultuous price history. Its value constantly changes, similar to most crypto assets. In the past, the asset has traded below $0.10, above $3, and everything in between. Compared to Bitcoin, XRP has a large coin supply and different tokenomics, which gives the two assets different values per coin.
XRP is a well-known asset in the cryptocurrency industry, boasting significant market capitalization. The $XRP is listed on various digital asset exchanges, including Bitfinex, Kraken, Bitstamp, Binance, and FTX.
