In this section, you will find important Ripple price news, actionable trading ideas, and a live XRPUSD chart to help you understand the markets better.
What is Ripple?
Ripple or XRP is a digital currency created in 2012 as a standard of exchange on the Ripple payment protocol. XRP was mainly built for corporations to use as it aims to be a fast, secure and cost-efficient cryptocurrency for sending money around the world using blockchain.
Financial institutions and payment providers can use XRP to reduce their transaction costs and enter new markets. XRP exists within the Ripple Payment and Exchange Network and can be used for transactions between traditional currencies such as USD, EUR, GBP, and other cryptocurrencies through the RippleNet payment network. A major difference between Ripple and the other major cryptocurrencies is that the XRP is not mined. There is a fixed stock of 100 billion XRP controlled by Ripple Labs, the company that created XRP.
XRPUSD is a pair that shows how many US dollars it costs to buy one XRP. The XRP price at the time of writing was $0.399672 with a market capitalization at 17 billion dollars which made it the third-largest cryptocurrency after Bitcoin and Ethereum.