#Xrp🔥🔥 #xrprealstory #XRPGoal
is a cryptocurrency developed by Ripple Labs, a technology company founded in 2012 by Chris Larsen and Jed McCaleb. The XRP Ledger (XRPL) was created by three engineers - David Schwartz, Jed McCaleb, and Arthur Britto - who aimed to build a more sustainable and efficient digital asset than Bitcoin. Here are some key points about XRP ¹ ²:
- *Origins*: The XRPL was launched in June 2012, and 80 billion $XRP tokens were gifted to the company that would become Ripple Labs.
- *Purpose*: XRP is designed for fast and low-cost transactions, making it suitable for cross-border payments and liquidity management.
- *Controversies*: Ripple Labs has faced regulatory challenges, including a lawsuit from the US Securities and Exchange Commission (SEC) in 2020, alleging that XRP was an unregistered security. However, in July 2023, the court ruled that XRP sold on public exchanges is not a security.
- *Adoption*: $XRP has been adopted by various financial institutions and companies for its payment solutions, including MoneyGram and Santander.
- *Recent Developments*: Ripple Labs acquired Metaco, a crypto custody firm, in May 2023, and received a license from the Monetary Authority of Singapore to offer regulated digital payment token products and services.
As of May 11, 2023, XRP's market performance is as follows ³:
- *Current Price*: $2.39
- *Market Cap*: $140.13 billion
- *Percent Change*: -0.74% in the last 24 hours
There's also been recent speculation about XRP being mentioned in a potential US cryptocurrency reserve, after former President Donald Trump posted about it on Truth Social, but later deleted the post. However, there's no evidence to suggest a ban or restriction on XRP ⁴.