XRP is a cryptocurrency released by Ripple, a payment technology company based in San Francisco.
Founded in 2012, Ripple is today a 500-employee company with offices in nine different locations globally, with more than 300 corporations worldwide on its payment network RippleNet.
XRP is a cryptocurrency designed for global payments. Ripple prefers to call XRP a “digital asset”. XRP is the primary digital asset of XRP Ledger, an open source, permissionless and decentralized blockchain technology that can complete a transaction in 3 to 5 seconds. It can be sent and received without the need for a centralized intermediary. The XRP network is operated by more than 150 validators around the world. XRP Ledger has a structure that does not require energy consumption to verify transactions.
As of today, the average time for a transaction in XRP is 3.79 seconds and the transaction fee is 0.0000156 dollars.
The total supply of XRP is 100 billion. As of July 17, 2021, just over 46 billion of this is in circulation. The rest is locked.
Check out breaking Ripple news and commentary now:
XRP is a cryptocurrency released by Ripple, a payment technology company based in San Francisco.
Founded in 2012, Ripple is today a 500-employee company with offices in nine different locations globally, with more than 300 corporations worldwide on its payment network RippleNet.
XRP is a cryptocurrency designed for global payments. Ripple prefers to call XRP a “digital asset”. XRP is the primary digital asset of XRP Ledger, an open source, permissionless and decentralized blockchain technology that can complete a transaction in 3 to 5 seconds. It can be sent and received without the need for a centralized intermediary. The XRP network is operated by more than 150 validators around the world. XRP Ledger has a structure that does not require energy consumption to verify transactions.
As of today, the average time for a transaction in XRP is 3.79 seconds and the transaction fee is 0.0000156 dollars.
The total supply of XRP is 100 billion. As of July 17, 2021, just over 46 billion of this is in circulation. The rest is locked.
Check out breaking Ripple news and commentary now:
The war between the SEC and Ripple, which started in December 2020, has now been brought to the court of appeals. Following the SEC, Ripple also objected to some decisions in the court process last night. Ripple’s legal counsel said, “Our record is already good. The process will not be as long as before.”
Ripple co-founder Chris Larsen, who recently donated $1 million worth of XRP to the Kamala Harris team, made another new donation. Larsen sent $10 million worth of XRP to the political support organization supporting Harris.
During the discussions on whether the SEC missed the objection period, a last-minute move came from the institution yesterday evening. The SEC stated that the court requested a change regarding the ‘summary judgement’ given last year. It was noteworthy that the petition did not object to the decision that the sale of XRP to small investors was not a security.
Ripple’s highly anticipated stable coin Ripple USD (RLUSD) is now at the end. In the statement made today, it was informed that a partnership was established with 7 stock exchanges and 2 market maker companies. Former executives of FDIC and JPMorgan were also included in RLUSD’s advisory board.
Ripple, which has received positive results in US lawsuits and started to see its way more clearly, announced that it has introduced advanced crypto custody features. The new features also cover real-world assets (RWAs), which are the hot area of the last period.
The SEC’s use of the right of appeal in the Ripple case yesterday evening also mobilised the other side. Stuart Alderoty, Ripple’s legal counsel, stated that they are also considering the possibility of a counter-appeal and made heavy words to the SEC.
Bitwise, which completed the XRP fund registration in the state of Delaware yesterday, applied for an XRP spot ETF to the SEC today.
Ripple, known for its cross-border payment systems, which are widely used especially in the Far East and Middle East regions, has received a licence in principle from the Dubai regulator for payment activities. Ripple also made the official announcement. After the announcement, the XRP price rose above $0.62.
It was claimed that there will be an objection from the SEC in the securities case that resulted in Ripple’s victory last year, albeit partially. A lawyer who left his position at the SEC stated that the institution will appeal the judge’s decision that XRP’s exchange sales are not investment contracts.
Brad Garlinghouse, the famous CEO of Ripple, the company behind XRP, spoke at the South Korean Blockchain Week. Garlinghouse said they will release the company’s stablecoin in a few weeks. The US executive stated that he is ‘more optimistic than ever’ on the basis of the next 5 years for cryptocurrencies.