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Learn more about XRP
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XRP (XRP) price has increased today.
XRP (XRP) is priced at $0.519 today, with a 24-hour trading volume of $573,149,871.69. It is reflecting a 0.50% increase over the last 24 hours and a 1.31% decline over the past 7 days. With a circulating supply of 55.24 Billion XRP, XRP’s current market cap is at $28,676,600,864.40.
Understanding XRP / XRP Ledger
The XRP Ledger, or XRPL, came out in 2021 and it’s a kind of technology that’s open for anyone to use. It stands out because it has low transaction costs of just $0.0002 each, works fast with transactions settling in 3-5 seconds, and can handle a lot of transactions at once – 1,500 every second, to be exact. Plus, it’s friendly to the environment and doesn’t use a lot of energy.
It also brings some special features to the table like being the first to have a decentralized exchange (DEX) and having the ability to create custom tokens.
It’s shown it can be trusted over the years, closing 70 million ledgers since it started.
Who are the Founders?
In the year 2012, visionaries named David Schwartz, Jed McCaleb, and Arthur Britto collaborated to create the XRP Ledger, introducing XRP as an alternative to the Bitcoin blockchain. Their goal was to establish a faster and more energy-efficient solution.
They partnered with Chris Larsen and founded what is now known as Ripple, an influential company in the cryptocurrency world.
What Sets XRPL Apart from Others?
The XRP Ledger supports a broad spectrum of applications and use cases, primarily focusing on payment solutions. It can process micropayments, participate in decentralized finance (DeFi), and soon engage with non-fungible tokens (NFTs).
To better understand XRP, see our comparison of XLM vs XRP.
Since its launch in 2012, the XRPL has been an invaluable asset to enterprises and developers who work with Python, Java, and JavaScript.
The XRP website provides tutorials covering various coding languages to aid developers, enabling them to create applications, manage accounts, and explore other useful features.
Furthermore, in addition to its native coin, XRP, developers utilize the XRP Ledger to create efficient solutions for various processes, such as remittance and asset tokenization.
Currently, the five main applications of the XRP Ledger are payments, tokenization, DeFi, central bank digital currencies (CBDCs), and stablecoins.
How Much XRP Coins are in Circulation
Initially, the creators of the XRP Ledger gifted 80 billion XRP coins to Ripple.
This allocation was intended to support Ripple in building use cases around the digital asset. It includes the development of its global payments network, RippleNet.
As of September 2023 the circulating supply is 53,245,240,268 XRP.
Securing the XRP Ledger Network
Unlike Bitcoin or Ethereum, the XRP Ledger relies on a Federated Consensus method for validating transactions.
A consensus protocol involving independent servers, known as validators, confirms transactions in this process.
These validators work together to decide the sequence and result of XRP transactions. Every server in the network adheres to the same rules and processes each transaction based on the protocol. The network promptly confirms any transaction that follows the protocol.
Transparency defines the XRP Ledger since it makes all transactions public and available to everyone.
Moreover, anyone can run a validator; the network currently has over 150 validators. Universities, exchanges, businesses, and individuals worldwide operate these validators.
Using the Federated Consensus mechanism, the system processes all verified transactions without depending on a single participant for independent decisions. This approach ensures a resilient system resistant to centralized control.
Where to Buy XRP
You can buy XRP on various centralized finance (CeFi) exchanges worldwide, such as
Most Used
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Binance is a great combination of low fees, deep liquidity and multiple cryptocurrencies and trading pairs. We have tested every aspect of it and it STILL holds its reign as the top exchange in the world. In our view, it is the perfect crypto exchange for both newbies and advanced traders alike.
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Biggest exchange in the world.
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Industry's lowest trading fees.
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Advance trading options like leverage trading.
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600+ crypto options, 150+ for the US.
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Lucrative on-site staking options.
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Hiccups in account verification.
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Less regulated than some competitors.
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The corporate structure is not transparently.
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Coinbase is one of the largest crypto exchanges in the world and a widely-used platform for buying, selling, and trading over 200 cryptocurrencies. It offers trading solutions for beginner, advanced, and institutional traders alike. Take a look at what makes it an excellent option for individual traders looking to trade in cryptocurrencies and beyond.
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A wide-selection of coin offerings.
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Most secure online crypto platforms.
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Top-rated mobile app.
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Easy interface and user-friendly.
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Expensive and complex fee structure for beginners
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Higher fees as compared to other cryptocurrency exchanges.
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Slow customer support.
Best in class
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eToro is a popular online trading platform for crypto assets, stocks, and ETFs, featuring low fees and a user-friendly interface. With a free eToro wallet and social features like messaging boards, users can copy experienced traders and access numerous assets. Take a look at what makes this platform perfect for starting your trading journey.
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Provides an attractive, communal atmosphere.
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Offers zero commission on ETFs.
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Extensive selection of educational resources.
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Mobile app with trading features.
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Smooth account opening and bank transfer.
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Limited number of cryptocurrencies.
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Limited customer support.
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No crypto-to-crypto trading pairs.
Coinweb’s Crypto Wiki can provide educational resources for those new to cryptocurrencies and interested in purchasing XRP.
The XRP Ledger is a technology that allows fast, cheap, and energy-efficient transactions. It has low costs ($0.0002 per transaction), settles transactions quickly (3-5 seconds), and can handle lots of transactions (1,500 per second).
David Schwartz, Jed McCaleb, and Arthur Britto made the XRP Ledger and XRP in 2012. They wanted to make a solution that was faster and used less energy than Bitcoin.
The XRP Ledger can be used for many things like payments, tokenizing assets, decentralized finance (DeFi), and soon, non-fungible tokens (NFTs). Developers use it to build various applications and solutions.
The XRP Ledger uses a Federated Consensus method where validators, which are independent servers, work together to agree on the order and result of transactions. Every transaction that follows the rules is confirmed quickly.
You can buy XRP on several global exchanges like Binance, eToro, and Coinbase.
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