The XRP price is currently $ 0.231357 with a 24-hour trading volume of $ 1.37B across 139 exchanges. The XRP price is down -0.67% in the last 24 hours. The XRP price prediction sentiment is currently bearish. XRP reached its highest price on January 4, 2018, when it was trading at its all-time high of $ 3.92. It has a circulating supply of 43.30B XRP with a total supply of 99.99B XRP. The best exchange for trading XRP is Binance.

XRP is a cryptocurrency that was launched in 2012 by Chris Larsen, Jed McCaleb and Arthur Britto. The maximum supply of XRP is 100 billion coins, which were all created at launch (it is not possible to produce additional XRP). 80% of the total XRP supply was given to fintech firm Opencoin, a company that was later renamed to Ripple in 2015. Ripple still holds more than half of the total XRP supply, although a large portion of the company’s XRP holdings is locked in escrow and can only be accessed periodically.

Key XRP features:

Created in 2012 with a maximum supply of 100 billion coins

Doesn’t use proof-of-work or proof-of-stake, but a unique consensus protocol

Offers very fast and cheap transactions

XRP is the native cryptocurrency of a blockchain called the XRP Ledger. The XRP Ledger is quite unique among cryptocurrencies as it doesn’t use neither proof-of-work nor proof-of-stake to achieve consensus about the state of the ledger. Instead, it uses the XRP Ledger Consensus Protocol, which aims to provide a robust and decentralized network that can process transactions quickly and efficiently. Each operator of an XRP Ledger node can choose which nodes they deem trustworthy.

Due to its speed and low cost, XRP can be used just like any other cryptocurrency for transferring value from wallet to wallet. However, Ripple is actively pushing for XRP to be used in large-scale implementations, particularly when it comes to cross-border transfers, where XRP is being positioned as an asset that could act as a bridge in transactions that involve different fiat currencies. To this end, Ripple has created a service called On-Demand Liquidity (ODL).

Other potential use cases for XRP involve microtransactions related to online content (blogs, music, video) and the gaming industry.

Currencies other than XRP can be issued on the XRP Ledger and the protocol also has a built-in decentralized exchange feature which allows users to create buy and sell orders for different issued currencies on-chain.

For a more in-depth XRP explanation, you can check out our article on the XRP cryptocurrency.

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