Ripple (XRP)

Information about the coin Ripple (Ticker Code: XRP)

Asset Information

Asset Name: Ripple XRP
Trade Ticker: XRP
Logo Icon:
Asset Type: Coin
Subtype: Utility
Total Supply: 100,000,000,000 XRP
Circulation: 41,208,093,050 XRP  
Market Cap: $9,482,673,608 USD
Premine: Yes, 100%
Proof Type: Not mineable
Categories: Cryptocurrency
Social Contacts: Twitter   Reddit   Facebook   YouTube  
7 Day Sparkline:
Average Price:

altilly XRP (Ripple) Balance SheetWhat is this?  

Last Updated: 2019-12-08 15:31:06 UTC
Customer Funds on Deposit 13146.09210700 XRP
Customer Funds Pending Deposit 0.00000000 XRP
Customer Funds Pending Withdrawals 0.00000000 XRP
Total Liabilities 13146.09210700 XRP
In Deposit Wallets 20.09998800 XRP
In Transit Dep-->WD Wallet 18133.30636500 XRP
In Withdrawal Wallets 13152.62886500 XRP
In Safe Storage (0.00%) 0.00000000 XRP
Total Assets 31306.03521800 XRP
Balance 18159.94311100 XRP (238.139%)

Liabilities Est. USD Value $3,025.14
Assets Est. USD Value $7,204.04
Balance Est. USD Value $4178.90 (238.139%)

Ripple (XRP) is trading in 7 markets at altilly.

Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.

Ripple was originally founded by a single company, Ripple Labs, and continues to be backed by it, rather than the larger network of developers that continue bitcoin's development. It also doesn't have a fluctuating amount of its currency in existence. Where bitcoin has a continually growing pool with an eventual maximum, and Ethereum theoretically has no limit, Ripple was created with all of its 100 billion XRP tokens right out of the gate. That number is maintained with no mining and most of the tokens are owned and held by Ripple Labs itself - around 60 billion at the latest count.

Even at the recently reduced value of around half a dollar per XRP, that means Ripple Labs is currently sitting on around $20 billion worth of the cryptocurrency (note: Ripple's price crashed hard recently, and may be worth far less than $60 billion by time you read this). It holds 55 billion XRP in an escrow account, which allows it to sell up to a billion per month if it so chooses in order to fund new projects and acquisitions. Selling such an amount would likely have a drastic effect on the cryptocurrency's value, and isn't something Ripple Labs plans to do anytime soon.

In actuality, Ripple Labs is looking to leverage the technology behind XRP to allow for faster banking transactions around the world. While bitcoin and other cryptocurrencies are built on the idea of separating financial transactions from the financial organizations of traditional currencies, Ripple is almost the opposite in every sense.