XRP has been available in the Wirex app for a while now. But in case you missed it, here’s everything you need to know.
What is XRP?
XRP is a cryptocurrency that runs on the XRP Ledger. It can also be used on the digital payment network, RippleNet, which provides a quick and easy way to send money overseas. In terms of XRP’s supply, there are currently 100 billion tokens in circulation.
XRP is often compared to Bitcoin in how it offers quick, low-cost cross-border transactions. However, unlike Bitcoin, XRP doesn’t use mining to validate transactions, instead relying on a consensus protocol to do so.
The XRP Ledger is maintained by multiple participants of the XRP Community. Each transaction made on the ledger requires an agreement (aka a “consensus”) from independent validator nodes. Much like other blockchains and ledgers, transactions cannot be reversed once they’ve been executed.
Who created XRP?
Chris Larsen and Jed McCaleb co-founded a company called OpenCoin in 2012, which began developing the Ripple protocol and network. The company changed its name to Ripple Labs in 2013, then just Ripple in 2015.
While the project was inspired by Bitcoin, XRP’s creators set about to create a better version. This involved creating a digital asset that was more environmentally friendly and built solely for payments.
What makes XRP unique?
Many major banks use RippleNet. Some see this as a contradiction of crypto’s initial intention: to eliminate them from the payment process altogether.
It’s also been said that RippleNet could provide a cheaper, more secure and more efficient alternative to SWIFT, a payment system currently used by banks all around the world.
FAQs
Can XRP reach $100? Reaching a $100 price point would mean a market capitalisation of roughly $5.2 trillion for XRP, considering the current circulating supply of about 52 billion. This would be more than four times larger than the current value of all cryptocurrencies combined.
Will XRP hit $10,000? ›
It's pretty clear that XRP will never reach a price of $10,000, as the coin's market capitalization would be unrealistically large at that price. The only way 1 XRP could be worth $10,000 would be through a massive coin burn program or a redenomination of XRP.
Will XRP ever reach $20? ›
The Path to A Double-Digit Price
He believes the asset's true value lies between $8 and $20 and predicts it will reach this range by 2026.
Will XRP win the lawsuit? ›
Ripple recently scored an unequivocal victory from a dollars-and-cents standpoint in a class action securities lawsuit, with the judge tossing out most of the case.
Can XRP reach 100 dollars? ›
Yes XRP or Ripple can hit $100. But it rakes time. XRP is a good investment. The current price of XRP is $0.8221.
Can XRP hit $1000 usd? ›
Yes. It can. People will often mention the market cap being too high for this to happen. There are 100 billion XRP not all are in Circulation and at any one time a fraction of that will be available.
How high can XRP go if it replaces Swift? ›
In a recent proposal by Edward Farina, the Head of Social Adoption at #XRPUpdate Healthcare, a hypothetical scenario was presented whereby the price of XRP has the potential to see a significant increase, reaching a value of $10,000.
Will XRP make me a millionaire? ›
Therefore, it seems doubtful that XRP will generate millionaire-making gains by the end of the decade.
What is the max price XRP can hit? ›
Thus, the most realistic Ripple price target before 2030 may be around 2 USD per 1 coin. The price reached this level in 2021 during the last growth period in the crypto market.
Can XRP hit $5? ›
However, a $5 target looks quite plausible in the long run, as the global crypto market matures and RippleNet gains traction in more local markets. Keep an eye on the risks listed earlier, and make your Ripple investment a reasonable size that wouldn't break the bank if something goes terribly wrong.
If the crypto market cap hits $3 trillion and XRP retains its current 1.10% dominance, its price could ascend to $0.589 by 2025. In a more bullish scenario of the crypto market surging to $10 Trillion, the price of XRP could soar to a staggering $1.96, resulting in a potential 4x return for investors by 2030.
Is XRP a dead coin? ›
XRP could not be labeled as a 'Dead crypto asset' because it is still among the top 10 crypto assets with 4.6% of the total market cap.
What happens if XRP loses a lawsuit? ›
However, if Ripple loses all appeals, the SEC is likely to collect the $1.3 billion (the amount that the regulator alleges that Ripple earned from the unregistered securities sale) and offer XRP holders an option to sell their holdings.
Will the XRP case ever end? ›
Experts are predicting a potential end date for the lawsuit at the district court level by July or August 2024.
Does Ripple have a future? ›
Projections suggest the XRP supply might last up to 70,000 years due to this deflationary mechanism, though this depends on future developments. While XRP burning has a deflationary effect, it is likely to have a minimal impact on the price in the short to medium term.
Can XRP reach $35? ›
Can it reach 35k? Yes it can but it will take some time. My reasons for it is that Gold has a market capital of roughly $11T and Silver has a market capital of $1.3T right now. If XRP has the same market capital as Silver, it will be $26.
What is the price prediction of XRP in 2030? ›
XRP price forecasts for 2030
Techopedia also sees potential for growth, estimating XRP could reach a maximum of $9 by 2030, potentially becoming a bridge currency due to its near-zero settlement times and the rise of central bank digital currencies.
Is there a maximum amount of XRP? ›
Unlike Ethereum, which has an infinite supply, XRP has a maximum supply of 100 billion coins.
