Ripple Price

Ripple

Ripple is a company that, through blockchain technology, has developed an asset exchange system in the form of IOU (I Owe You) and value (the XRP token).

A fast network

Transactions are faster – nearly 1500 per second according to Ripple’s site – but require much greater trust between the various actors in the system, which calls into question the de facto decentralization characteristic.

The network controlled by Ripple

There is a list of validators called UNL (Unique Node Lists) that recommends by default the nodes to which validators should connect. Of this list, about half of the nodes belong to Ripple.

Resources

🌐  Official website
📃  Whitepaper 

Learn more with our articles

What is Ripple?
Ripple is a company that has developed an asset exchange system in the form of IOU (I Owe You) and value (the XRP token). 

How should I choose my wallet?
The choice of a cryptocurrency wallet depends mainly on the use you will make of it. Some are more suitable to secure your funds as much as possible: physical wallets.

What is Blockchain?
A blockchain is a numerical account book that uses cryptographic methods to structure data into blocks. Each operation within a blockchain is called a transaction.

Ripple Price History

Ripple has been around for years, as has its XRP token. As of 2012, XRP will be listed on crypto marketplaces. Its price is initially set at 0.1 USD.

Until 2014, the price remains low and even fluctuates for several months at around 0.005 USD, before rising to 0.30 USD for the first time.

Until the spring of 2017, XRP will not change much. It is only in April and May 2017 that it really takes off to reach $0.40, before stabilising again around $0.20.

In December 2017, XRP takes advantage of the bubble on cryptocurrencies and experiences one of the most impressive and rapid increases in the ecosystem. Its price rises from $0.20 on December 8 to its historical high of $3.65 on January 5, 2018. In one year, the price of Ripple has increased 360 times!

The year 2018 is marked by the market crash, during which XRP loses value to return to a valuation of 0.25%.

Despite a temporary rise to $0.50 in June 2019, the price of XRP is currently struggling to recover to a level of $1 or more.

How will the price of the Ripple change?

XRP is a highly volatile cryptocurrency, subject to strong market fluctuations. A past analysis of its price shows that the price of XRP can go through long periods of stabilization during which there is little movement in the price, either upwards or downwards. Conversely, it also experiences periods of sudden volatility during which the price can rise by more than 1000% in a few days! It can also lose 90% of its value in a few months, such as in 2018.

It is therefore complicated to anticipate how the price of the Ripple will evolve, or whether it will stabilize in a price zone. In order to restart a major upward cycle in 2020 and in the years that follow, the XRP token will first have to regain the $0.50 level and then the symbolic $1 level. Presumably, the more the Ripple network is used by banks, the greater the demand for XRP, which should push up the price.

But keep in mind that Ripple works differently from other cryptocurrencies such as Bitcoin. Thus, XRP token cannot be obtained by mining. The Ripple company issued 100 billion XRP at the time of the project’s inception. There are currently just over 43 billion XRPs in circulation. Ripple Company regularly sells a maximum of XRP 1 billion per month on the market. This does not really help the appreciation of the unit price of the XRP token.

If Ripple’s price falls below USD 0.15 on a sustained basis, it will be difficult for the token to return to its historical highs at the end of 2017.

History of Ripple

The Ripple network as we know it today was founded in 2012. But the first work on the project dates back to 2004. At that time, the company was actually called OpenCoin. This name was changed to Ripple in 2015. The company developed the Ripple Transaction Protocol (RTXP), based on concepts by Ryan Fugger, which enables banks to carry out international transactions very quickly.

In 2013, the company created its own form of digital currency: XRP. It is this asset that is traded on marketplaces. So calling it Ripple is still a shortcut. Between 2013 and 2015, the company, under the name Ripple Labs, develops projects related to its protocol and forges numerous partnerships, notably with banks such as Bank of America or Fidor Bank.

In 2016, when Brad Garlinghouse became CEO of Ripple, the company continued its development and obtained a virtual currency license from the New York State Department of Financial Services.

In 2017, partnerships with numerous banking and payment institutions continue to provide Ripple’s customers with an instant global payment service.

What is Ripple (XRP)?

Ripple’s approach is based on the fact that today, transferring money from one bank to another takes time and money, and involves many intermediaries. For example, if you send money to someone abroad, the money will be processed by several banks and that person will not receive the funds for several days at best, and often for weeks. Ripple wants to solve this problem and enable secure, instant and almost free global financial transactions, regardless of the amount.

If two banks are both using the Ripple protocol, an international transaction will only take a few seconds. Logically, the same will be true for domestic transactions.

Faster and cheaper international payments, therefore, based on a shared public database, using a consensus process that allows payments, exchanges and remittances to be made, exchanged and sent in a decentralised manner.

Currently, one of the solutions proposed by Ripple to enable very fast international bank payments is called Xrapid. A protocol that puts the XRP token in the center of the board, with the asset serving as the bridge. To understand in detail how Ripple works and how the XRP token is used, read our article dedicated to Ripple.

Discover more cryptocurrencies

All Cryptos
#CoinPriceMarketcapVolume (24h)SupplyChangeLast 24h
18.209,52 151,20 B 15,90 B 18,42 M0,87%
2205,41 22,91 B 5,21 B 111,59 M2,39%
40,157139 7,00 B 1,02 B 44,54 B0,28%
30,889103 8,58 B 14,42 B 9,65 B0,07%
5199,03 3,67 B 1,45 B 18,45 M0,03%
837,06 2,41 B 880,71 M 64,94 M0,61%
60,084287 2,62 B 480,78 M 31,11 B13,59%
140,061978 1,26 B 202,25 M 20,38 B4,91%
132,12 1,52 B 51,33 M 715,95 M1,32%
124,29 1,63 B 291,84 M 381,51 M5,65%
2460,72 574,17 M 245,17 M 9,45 M0,38%