What is Ripple

XRP digital currency can be used for payment transfers between individuals, for between banks. A total of 100 billion XRP exists, and the company which owns the network is Ripple Labs Inc, a US-based technology company – originally named Opencoin before 2015. Ripple and its proprietary XRP currency seem themselves as a global payments network.

This has resulted in its developers owning a substantial percentage of them , which is a concern, as it runs counter to the idea of decentralisation which is core to the cryptocurrency philosophy. Like any investment, putting your money into Ripple isn’t risk-free. So here’s what you should know about the risks What is Ripple of investing in XRP. Back in December 2020, the SEC sued Ripple for selling $1.3 billion worth of XRP tokens illegally, claiming that they were actually ‘securities’ not cryptocurrency. Some of the biggest adopters of Ripple include American Express, Santander, and US-based money transfer company MoneyGram.

Ripple’s XRP, a Digital Asset Solution

It will look almost invincible to banks and institutions, and it could lead to further investments. In the eyes of institutional investors, XRP would look immune to regulation and perhaps the safest investment option in the crypto market. Ripple was first conceived in 2004 by Ryan Fugger, a few years before Bitcoin and blockchain technology had been invented.

  • This happens almost instantaneously, facilitating fast confirmations without the need for a central authority.
  • So in this post I try to explain what exactly Ripple is and what makes it different from Bitcoin.
  • Upon success, the sender receives a confirmation notification.
  • Like many and most cryptocurrencies, Ripple is completely open-source and decentralised.
  • The SEC lawsuit has had a huge impact on XRP trading, especially in the US.
  • Every month, the Ripple Foundation releases a maximum of 1 billion XRP into the market.

According to data collected by PwC in 2017, over a third (35%) of major UK companies have appointed a digital transformation leader, emphasizing https://www.tokenexus.com/ its increasing importance. We’ll be exploring some of the top Ripple forecasts to see how much the crypto might be worth between 2023 and 2025.

✅ XRP is recovering from SEC case

The coin is also anticipated to end with an average price of $0.67. Improvements to crypto regulation could give more traditional investors the confidence they needed to start investing in Ripple in. Overall, if this happens, we would expect more demand for XRP from institutional investors.

Who owns Ripple Protocol?

The original authors of the Ripple payment protocol were Arthur Britto, David Schwartz and Ryan Fugger. The developers are Ripple Labs Inc.