XRP /XRP

What is XRP(XRP)?

XRP, also known as “Ripple” is a popular blockchain network called XRP Ledger (XRPL) is an open-source and peer-to-peer decentralized platform designed to enhance global financial transactions to facilitate fast and cost-effective cross-border payments. 

XRP Ledger provides a platform for payments, DeFi, and NFTs, appealing to developers and businesses alike. Using Python, Java, or JavaScript, developers may create apps, and manage accounts, with the help of tutorials on the XRP website. In addition to XRP, the XRPL allows remittance and tokenization solutions; its main uses are for payments, DeFi, CBDCs, and stablecoins.

Having XRP as the native coin, the XRP ledger works differently from traditional blockchains; Unlike Bitcoin or Ethereum it does not rely on a mining process to validate transactions. Instead, it utilizes “The Ripple Protocol Consensus Algorithm (RPCA)”  consensus mechanism involving a network of independent validators, allowing 1,500 transactions per second (TPS), with transactions settling in 3 to 5 seconds and lower energy consumption compared to proof-of-work systems like Bitcoin.

Launched In 2012 by David Schwartz, Jed McCaleb, and Arthur Britto, the network is managed by CEO Brad Garlinghouse (Sep 2024). By 2018, the company had experienced 36,000% growth and established a growing network of some major global banks like Spanish Banking group Santander, Kotak Mahindra Bank, Axis Bank, and IndusInd. 

Ripples Labs, Inc., formerly known as “open coin” is an American technology company that developed the Ripple payment protocol and exchange network, was rebranded to Ripple in October 2015.

XRP coin has a total supply of 100B tokens and a circulating supply of 57B as of 2024. The rest 43.64 billion XRP is in an escrow account to ensure a stable supply and ranks as the 7th largest cryptocurrency by market capitalization. 

XRP Price / Ripple Price History :

• The initial launch XRP price in September 2013, was $0.014.Further listed on Bitstamp for $0.5 in Aug 2013.

• XRP recorded an all-time high price of $3.84 on  Jan 1, 2018, and since then the asset has never neared the ATH value.

• XRP/Ripple price's all-time low was $0.002686 on May 22, 2014.

XRP Price Prediction: 

• According to Coinpedia, XRP price prediction in 2025 is expected to vary between a potential low of $0.75 and a high of $1.36, an average value of $1.05.

• In 2026, the XRP coin price ranges between $1.00 to $1.98,  the average cost is projected to be $1.49.

• In 2027, XRP’s price could span from $1.25 to $2.49, with an average of $1.734

• By 2028, the Ripple XRP price would fall between $1.68 and $3.12, the average cost is expected to be about $2.40.

• The average XRP price is estimated at around $3.07, with a potential low of $2.15 and a high of $3.99 by 2029.

• XRP price prediction in 2030 indicates an average price of $3.92. The asset may vary between a potential low of $2.86 and a high of $4.89. 

Where can I buy XRP coins?

XRP Supports 100 Crypto Exchanges to buy or sell, top among them are Kraken, Binance, Coinbase, OKX, Bybit, Upbit, Kraken, Gate.io, HTX, Bitfinex, and BingX.

Wallets that store XRP?

Two types of wallets that support the XRP network, and manage XRP tokens including hardware and software wallets.

• Software Wallets: Trust wallet, Towo labs, Gem wallet, Gate hub.
• Hardware Wallets: Ledger, keystone, D’scent, Trezor

XRP Mining:

XRP cannot be mined, as the transactions in Ripple are handled through a consensus mechanism. When an XRP transaction is broadcasted on the network, the validators maintaining the network decide if it is valid or not through voting. 

When the validators receive transactions, they check with other trusted validators, if 80% or more votes are “valid”, the transaction is updated in the Ripple Ledger. This trusted validator is known as Unique Node List (UNL), having its own UNL. There’s no compensation given to the miners as in Bitcoin.

Ripple, Ripple Network, XRP, and  XRP Ledger.

• Ripple formerly known as Ripple Labs, company to introduce Ripple Network.

• Ripple Network is built on an XRP Ledger used for making payments.

• XRP is the cryptocurrency used on XRP Ledger (XRPL).

• XRP Ledger is an open-source and peer-to-peer decentralized platform.