Want to discover more about Ripple (XRP)? Wondering how to kick Token to Eth? Then this article will be especially useful for you. Whether you are a beginner or an experienced cryptocurrency user, you will definitely boost your expertise by exploring Ripple.
Ripple: Brief Info
Ripple is a privately held company that has created RippleNet, a global digital payment platform that brings together such institutions as
- banks;
- payment providers;
- exchanges;
RippleNet is built on top of XRP Ledger, an open-source blockchain technology that completes transactions in seconds. Ledger’s own XRP token is the XRP cryptocurrency, which has been designed to provide fast, cheap, and scalable payments around the world.
XRP has a long history, and it has experienced sharp fluctuations more than once or twice. If you want to understand why this happened, then this guide is for you! Keep reading to find out all about the past XRP price movement and the factors influencing it.
Factors Affecting Ripple Price
The price is influenced by many factors, including:
- news about Ripple;
- project developments;
- stock movements;
- investor sentiment;
- the overall situation in the cryptocurrency market.
XRP has a limited maximum supply of tokens, so its value will not be depreciated by inflation. In addition, to make transactions in the ledger, it is necessary to pay a small amount of XRP, which will be deducted from the total token supply. This increases the scarcity of the asset, however, it is unlikely that it will greatly affect the price. The point is that it will take 70,000 years to destroy all XRP at the current rate. However, this adds a small deflationary effect to the supply.
That is why the XRP price prediction 2025 is a matter of concern. XRP was conceived as a medium of exchange, not a store of value. In other words, the value of XRP is likely to be affected by the increased use of XRP by organizations, especially in the case of using this cryptocurrency for global payments. However, many are still reluctant to use it, as the rate is showing high volatility.
XRP’s user community and social media could also influence the price of XRP if they drive massive retail investment.
XRP Present Value and Market Cap
The current Ripple price is constantly changing, as it is based on the balance between supply and demand on exchanges, which is in constant flux. Considering the volatility of XRP, its real-time price can change a lot in a very short period of time. The market cap equals the price multiplied by the number of tokens in circulation and therefore changes based on the price of that cryptocurrency.
The current Ripple price is 0.567850 EUR. The exchange rate has changed at +0.00312318 EUR in the last 24 hours and XRP has a 24-hour trading volume of EUR 1,589,383,513. Ripple’s current rating on Kriptomat is 6 with a market cap of EUR 26,223,683,334. The volume in circulation is 46,171,815,477 XRP. The maximum volume is 100,000,000,000 XRP.
Final Word
Ripple is the third-largest cryptocurrency in the cryptocurrency industry by market capitalization. Unlike many cryptocurrencies, Ripple does not use the blockchain but instead uses a patented technology developed by them called the Ripple Protocol Consensus Algorithm (RPCA).
At the same time, it can perform much faster transactions with a small fraction of the energy required to operate its network, compared to Bitcoin and Ethereum.
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