Ripple XRP Review
Ripple was introduced in 2012 but it started getting popular in 2017. It was co-founded by Chris Larsen and Jed McCaleb. Jed is the interesting person here because he also founded the famous Bitcoin Exchange MT Gox in 2010 which was hacked in 2014 and Crypto investors lost around 400 million Dollars in this famous Hack.
If you follow Cryptocurrencies then you have most probably heard a buzz about Ripple and this buzz is well anticipated because Ripple value has been increased by 34000% in 2017. Ripple is different to most crypto currencies in that it is centralised and pre-mined and not open to the public (at the moment) to use as a currency. The Ripple Transaction Protocol (RXTP) which is also known as Ripple Protocol was built with the aim to enable secure, instant and almost free global financial transactions between banks without any third intermediary bank. In simple terms, it is purely designed for banks and financial institutions to safely, quickly and cheaply transfer funds between each other.
XRP token is the native Cryptocurrency in the Ripple Network. Ripple has the finite supply of 100,000,000,000 Coins and circulating supply is 39,094,802,192 Coins. All Ripple supply is pre-mined and 55 Billion XRPs are held in escrow in order to provide additional predictability to XRP supply.
Ripple trading was started in August 2013 with the starting price of 0.004318$ and Ripple didn’t show any extraordinary rise in its value between 2014 -2016. Ripple got the spotlight when its value was increased by 34000% in 2017 and in January 2018, Ripple was trading at 3.65$. In the first 40 days of 2018, Ripple has lost almost 60% value along with other crypto currencies because of the temporary ban on Cryptocurrency exchanges in the biggest markets of cryptocurrencies: China and South Korea.
- Price $0.496
- Market Cap