Ripple (XRP) Price

The page helps you understand the concept of Ripple, advantageous of Ripple protocol and types of Ripple XRP. It also covers other aspects related to Ripple such as Ripple Wallet, Ripple Mining, Ripple XRP Price Trend, Ripple news and development.

In a world where cryptocurrencies are becoming increasingly popular, Ripple XRP has solidified its position as one of the leading cryptocurrencies in terms of market capitalisation. Even though XRP is considered to be a cryptocurrency, it is inherently different from other players out there like Bitcoin and Ethereum. To assume that Ripple XRP is the next Bitcoin will be a disastrous mistake.

Simply put, Ripple is a back-end infrastructure that supports real-time payment protocol for anything of value. This can be pretty much anything, ranging from fiat money, cryptocurrencies, and commodities, to any other unit that has a value like frequent flier miles and mobile internet data. You can think of Ripple as a technology services provider that facilitates currency exchange in real time, swiftly and efficiently.

What is Ripple?

To truly understand the beauty of Ripple and how it is already changing the way financial transactions across the world are performed, it is important to understand the concept of liquidity in international transactions.

Liquidity in a transaction is essentially the ease with which an exchange in a particular instrument or security can be performed, or the ease with which an asset can be converted into cash for withdrawal. By default, cash is the most liquid asset while real estate is the least liquid asset, mainly because it can take a long time to sell.

For domestic transactions like a sale through debit card or cheque deposits, liquidity is high since the exchanges are taking place in a single currency. However, when we consider the same for international transactions, we will notice that it is not as simple as its domestic counterpart. They face many hurdles and delays owing to currencies and country-specific regulations. There is also a variance in time and price that could very well affect the pricing on both sides of the exchange. Furthermore, international payments may take anywhere from one-five days to settle and are usually quite expensive.

That's why, financial institutions need to pre-fund their Nostro accounts (accounts that the bank holds in foreign currency in another bank). These accounts with balances in local currencies improve liquidity and help make international transactions seamless. However, this means that at this very moment, an astounding amount is sitting dormant in these Nostro accounts across the world - capital that could be utilised more productively. Owing to the cost and complexity of maintaining these accounts, only a handful of banks can effortlessly process global transactions, while the rest have to rely on these big financial entities for processing international transactions, all of which is done for a fee.

Which is why when you want to send money from India to your nana in America, not only will it take a couple of working days, but you will have also have to pay a significant amount as the transfer fee.

This is where Ripple comes in.

Ripple protocol has been designed to perform every transaction through the cheapest price available in the market. It essentially serves as a neutral entity to facilitate transactions for financial institutions. It is based on a cryptographic, publicly shared ledger that stores all the necessary information and is powered by a network of peer-to-peer servers and its content are decided by consensus.

Instead of relying on Nostro accounts, banks and other financial institutions simply need to incorporate Ripple protocol into their own systems and watch the magic happen.

Ripple protocol provides the much-needed liquidity for a seamless transaction through an international network of financial brokers, market makers, hedge funds, or pretty much any entity that can offer their cash positions. This is just like having a global marketplace for cash. As a result, businesses need not keep funded accounts in the countries they send payments to. This also ensures that international payments do not take the conventional SWIFT trail, which is rather time-consuming, expensive and difficult to scale. In many ways, Ripple is quite similar to the age-old hawala system, except its highly digitalised and cryptographically secured.

As for Ripple XRP, it is a digital asset native to the Ripple consensus ledger and serves as an efficient way to bridge the gap between the numerous currencies that are in use worldwide. For instance, assume that you, a resident of India, want to send money to your friend in Argentina. For this to happen successfully, Indian Rupees (INR) will have to be first converted into US Dollars (the most common currency) which will then be converted into Argentine Peso.

The above process is not only time consuming, but also quite expensive owing to the fees at every step of the exchange. Ripple protocol aims to solve this problem by introducing XRP as the common currency for all international money transfers. In short, it aims to become a global settlement network for all currency exchanges at low cost and higher efficiency.

It is important to remember that Ripple XRP has been built for enterprise use as it offers banks and payment providers on-demand liquidity which, in turn, significantly lowers costs while enabling real-time cross-border payments. XRP is like a vehicle that banks use to move funds, only it is much cheaper than using the USD.

Advantages of Ripple Protocol

  1. Through Ripple XRP, payments can be settled in a maximum of 4 seconds in a stark contrast to other means like Bitcoin and traditional systems, which can take up to more than an hour and 3-5 working days respectively. Additionally, the transaction fee with XRP is comparatively lesser over other cryptocurrencies. The standard transaction fee when using Ripple is 0.0001 XRP, while the same in case of Bitcoin can be anywhere between $0.30 - $30.
  2. XRP is scalable. Presently, it handles up to 1,500 transactions per second, 24x7. This is an astounding improvement over Ethereum, which can handle up to 15 transactions per second and is well in line with Visa's ability to handle numerous transactions.
  3. Ripple XRP, by improving liquidity, also makes cross-border payments in real-time cheaper and faster. This is particularly true for emerging markets, where currency exchange costs run high. This has actually enabled Ripple to enter emerging markets in countries such as India, China, and Brazil.

How many Ripple XRP are out there?

At the time of creation, the Ripple Company created 100 billion XRP initially with no provision for making any more. Of these 100 billion, 55 billion XRP have been kept into a cryptographically-secured escrow account with the provision to release 1 billion of them at the start of every month, from months 0 to 54 - roughly for a period of five years. Whatever XRP is unused at the end of each month will be added back to the queue into a new escrow account. This account will release the leftover XRP only after the previous accounts in the queue have been cleared.

As of now, roughly 38 billion Ripple XRP are in circulation. Another interesting thing about XRP is that a small amount of it is destroyed with each transaction and this amount is mentioned for every transaction.

Worldwide acceptance of Ripple

The technology behind Ripple has proven to be such a huge hit that financial institutions all around the world have already started implementing the Ripple protocol into their own systems, though the scale of its operation varies. Depending on the type of application - payment processing by banks for their customers, sourcing on-demand liquidity, and sending payments by businesses - Ripple has designed respective platforms for the aforementioned applications. Owing to its low cost and high speed, the following institutions are already a part of Ripple blockchain network:

Mitsubishi UFJ Financial Group, Santander Group, Standard Chartered, Credit Agricole, MoneyGram, Axis Bank, American Express, Yes Bank, UniCredit, IndusInd Bank, BBVA, Currencies Direct, et cetera.

Where to buy Ripple cryptocurrency?

After Bitcoin and Ethereum, Ripple is one of the most popular cryptocurrencies out there. Therefore, it comes as no surprise to see it listed on some of the most prominent cryptocurrency exchanges in the world - Bitstamp, Kraken, Bitso, Binance, Gatehub, et cetera.

Ripple Wallet

When it comes to wallets, Ripple XRP holders have plenty of options to choose from. However, the important thing to remember here is that regardless of the wallet you choose, you need to have a minimum balance of 20 XRP tokens. Without these 20 XRP tokens, you cannot get a wallet address.

Some of the most popular wallets are Gatehub, Exarpy, CoinPayments, Rippex, Toast, Ledger Nano S, et cetera. You can also look at paper wallets to eliminate any risks pertaining to hacking and malicious virus.

Ripple Mining

If you have any ambitious plans of mining ripple, you should know that it is absolutely impossible. The maximum supply of 100 billion XRP tokens are already out there.

Ripple XRP Price Trend

Just like every other prominent cryptocurrency like Bitcoin and Ether, Ripple XRP too witnessed a dramatic increase in price in the second half of 2017. However, unlike its other two counterparts wherein they have to be mined, XRP does not require any kind of mining in order to be generated. As stated earlier, 100 billion XRP have been created and that is all there ever will be, at least for the time being.

Date

Open

High

Low

Close

Volume

Market Cap

Nov 12, 2018

0.507833

0.525536

0.500816

0.517165

605,042,000

20,792,881,924

Nov 11, 2018

0.506895

0.508318

0.496930

0.505913

292,675,000

20,340,489,540

Nov 10, 2018

0.500300

0.511176

0.499791

0.506698

328,038,000

20,372,050,864

Nov 09, 2018

0.492847

0.515509

0.492847

0.500668

509,865,000

20,129,611,646

Nov 08, 2018

0.536640

0.539282

0.491286

0.493508

686,221,000

19,841,740,204

Nov 07, 2018

0.549319

0.549319

0.524965

0.535707

631,230,000

21,538,372,467

Nov 06, 2018

0.497102

0.560547

0.497102

0.549080

1,333,160,000

21,639,288,294

Nov 05, 2018

0.461444

0.497412

0.460769

0.497412

556,519,000

19,998,705,113

Nov 04, 2018

0.455225

0.470722

0.449935

0.462691

429,629,000

18,602,729,463

Nov 03, 2018

0.458899

0.459135

0.454453

0.455667

275,311,000

18,320,325,933

Nov 02, 2018

0.456506

0.461451

0.455729

0.458685

401,300,000

18,441,666,174

Nov 01, 2018

0.448620

0.456303

0.446069

0.455722

346,501,000

18,494,536,425

Oct 31, 2018

0.445268

0.450401

0.438760

0.448382

367,008,000

18,092,481,285

Oct 30, 2018

0.441968

0.448306

0.440880

0.444759

245,858,000

17,769,546,760

Oct 29, 2018

0.461598

0.462128

0.437057

0.441514

341,648,000

18,558,791,184

Oct 28, 2018

0.457169

0.463931

0.455456

0.462406

280,005,000

18,380,731,242

Oct 27, 2018

0.459176

0.460376

0.455284

0.456348

211,006,000

18,461,412,032

Oct 26, 2018

0.456961

0.460288

0.453618

0.459288

235,514,000

18,372,344,917

Oct 25, 2018

0.455780

0.462766

0.452681

0.458052

273,380,000

18,230,128,937

Oct 24, 2018

0.461505

0.467070

0.454497

0.457237

295,115,000

18,459,092,599

Oct 23, 2018

0.453070

0.471596

0.439644

0.462058

445,238,000

18,121,722,845

Oct 22, 2018

0.456089

0.458188

0.450583

0.453109

249,302,000

18,242,475,905

Oct 21, 2018

0.458863

0.463629

0.455411

0.456694

262,867,000

18,353,416,238

Oct 20, 2018

0.453936

0.461899

0.451070

0.459151

277,061,000

18,156,365,400

Oct 19, 2018

0.457344

0.460625

0.450369

0.454178

303,401,000

18,292,697,001

Oct 18, 2018

0.467653

0.474622

0.447294

0.457725

476,876,000

18,705,009,203

Oct 17, 2018

0.469701

0.478521

0.460343

0.468197

526,538,000

18,786,911,870

Oct 16, 2018

0.448066

0.470990

0.445319

0.470253

605,102,000

17,921,587,053

Oct 15, 2018

0.401654

0.472133

0.396701

0.447316

1,041,470,000

16,065,199,320

Oct 14, 2018

0.418573

0.424992

0.401460

0.403286

289,195,000

16,741,923,546

Oct 13, 2018

0.416294

0.425624

0.414515

0.418878

373,875,000

16,650,777,937

Oct 12, 2018

0.379313

0.439544

0.378914

0.419115

820,154,000

15,171,606,884

Oct 11, 2018

0.461497

0.461497

0.381614

0.383130

791,202,000

18,458,793,401

Oct 10, 2018

0.479151

0.479151

0.459042

0.462387

412,207,000

19,135,108,955

Oct 09, 2018

0.490604

0.491133

0.471116

0.479857

416,867,000

19,592,477,417

Oct 08, 2018

0.484018

0.496593

0.479386

0.489751

540,832,000

19,329,458,625

Oct 07, 2018

0.490268

0.490268

0.469887

0.482039

548,645,000

19,579,049,942

Oct 06, 2018

0.519354

0.520882

0.470532

0.488082

672,167,000

20,740,595,570

Oct 05, 2018

0.527530

0.530432

0.510320

0.519026

589,636,000

21,067,120,536

Oct 04, 2018

0.528892

0.547161

0.526250

0.526606

621,615,000

21,121,535,016

Oct 03, 2018

0.517220

0.536097

0.512269

0.528162

789,229,000

20,655,379,543

Oct 02, 2018

0.577145

0.577145

0.518287

0.520837

743,705,000

23,048,516,946

Oct 01, 2018

0.583511

0.602337

0.537349

0.576461

1,412,800,000

23,265,129,410

Sep 30, 2018

0.568045

0.618702

0.564195

0.581572

1,329,720,000

22,648,482,209

Sep 29, 2018

0.539412

0.587431

0.529954

0.571228

1,034,370,000

21,506,830,064

Sep 28, 2018

0.543030

0.548805

0.522197

0.539112

718,255,000

21,651,113,979

Sep 27, 2018

0.516478

0.550922

0.513967

0.541381

824,083,000

20,592,429,897

Sep 26, 2018

0.520288

0.566711

0.491498

0.516308

1,821,610,000

20,744,361,360

Sep 25, 2018

0.487622

0.546061

0.441519

0.526941

1,639,680,000

19,441,931,263

Sep 24, 2018

0.570614

0.580377

0.489646

0.494712

1,034,380,000

22,715,618,493

Sep 23, 2018

0.575220

0.595025

0.559651

0.570689

1,043,970,000

22,898,988,896

Sep 22, 2018

0.565468

0.609112

0.495737

0.570798

2,411,430,000

22,510,774,201

Sep 21, 2018

0.452836

0.769380

0.429052

0.561462

4,101,490,000

18,026,983,451

Sep 20, 2018

0.326441

0.477467

0.322347

0.449918

1,291,360,000

12,995,296,506

Sep 19, 2018

0.320324

0.334734

0.313853

0.326053

489,609,000

12,751,815,823

Sep 18, 2018

0.271452

0.332653

0.271010

0.321860

600,216,000

10,806,270,795

Sep 17, 2018

0.281545

0.283361

0.268184

0.272251

246,489,000

11,208,027,091

Sep 16, 2018

0.281723

0.281846

0.276549

0.281166

197,009,000

11,215,132,456

Sep 15, 2018

0.277006

0.283564

0.276765

0.282008

205,361,000

11,027,367,618

Sep 14, 2018

0.281184

0.284941

0.273855

0.277159

269,029,000

11,166,631,222

Sep 13, 2018

0.270783

0.284655

0.267846

0.280583

311,799,000

10,753,576,244

Sep 12, 2018

0.263166

0.272626

0.255756

0.270087

298,449,000

10,451,083,575

Sep 11, 2018

0.270167

0.274917

0.255917

0.263710

200,330,000

10,729,099,551

Sep 10, 2018

0.280237

0.282113

0.263820

0.270321

204,958,000

11,111,435,989

Sep 09, 2018

0.278661

0.291261

0.274478

0.278680

168,991,000

11,048,955,365

Sep 08, 2018

0.291119

0.296207

0.273789

0.279333

169,208,000

11,542,912,112

Sep 07, 2018

0.301431

0.305307

0.287287

0.291435

213,961,000

11,951,803,040

Sep 06, 2018

0.283500

0.305327

0.276112

0.302710

329,763,000

11,240,798,945

Sep 05, 2018

0.331465

0.334100

0.283601

0.283601

344,488,000

13,142,626,421

Sep 04, 2018

0.335184

0.340320

0.330305

0.331652

241,419,000

13,290,111,416

Sep 03, 2018

0.343137

0.343684

0.334542

0.335961

201,147,000

13,605,424,981

Sep 02, 2018

0.347323

0.349541

0.338393

0.342523

240,907,000

13,771,423,148

Sep 01, 2018

0.335313

0.352657

0.334467

0.347721

257,267,000

13,295,224,488

Aug 31, 2018

0.335474

0.338988

0.328373

0.335332

219,139,000

13,301,609,033

Aug 30, 2018

0.344546

0.346640

0.325641

0.335444

263,925,000

13,661,315,450

Aug 29, 2018

0.350833

0.353745

0.341238

0.344803

275,908,000

13,899,357,389

Aug 28, 2018

0.337527

0.356798

0.334971

0.351837

329,550,000

13,372,216,711

Aug 27, 2018

0.323643

0.337781

0.323066

0.336903

227,284,000

12,791,844,745

Aug 26, 2018

0.328162

0.328327

0.320571

0.323776

168,718,000

12,970,457,794

Aug 25, 2018

0.327650

0.331530

0.324468

0.328230

167,363,000

12,950,216,379

Aug 24, 2018

0.327390

0.328584

0.318217

0.327606

244,571,000

12,939,944,898

Aug 23, 2018

0.319573

0.328813

0.319176

0.327709

217,578,000

12,630,954,713

Aug 22, 2018

0.334434

0.350122

0.316613

0.319803

286,845,000

13,167,469,147

Aug 21, 2018

0.318219

0.338100

0.316983

0.335177

248,735,000

12,529,064,599

Aug 20, 2018

0.344451

0.351689

0.317692

0.319283

311,144,000

13,561,851,038

Aug 19, 2018

0.327363

0.353079

0.321945

0.343978

327,300,000

12,889,055,633

Aug 18, 2018

0.363027

0.369954

0.317115

0.327100

434,332,000

14,293,247,833

Aug 17, 2018

0.292808

0.373619

0.292766

0.366676

497,206,000

11,528,558,090

Aug 16, 2018

0.282034

0.300958

0.278203

0.292436

238,219,000

11,104,340,439

Aug 15, 2018

0.276797

0.301744

0.276797

0.282005

332,432,000

10,898,166,615

Aug 14, 2018

0.278738

0.279615

0.253983

0.274272

276,768,000

10,974,569,489

Aug 13, 2018

0.297572

0.310680

0.276544

0.277466

235,117,000

11,694,547,623

Aug 12, 2018

0.300604

0.309376

0.297057

0.297870

178,827,000

11,813,701,285

Aug 11, 2018

0.321122

0.321210

0.291582

0.301262

284,423,000

12,620,041,078

Aug 10, 2018

0.346167

0.347973

0.316909

0.320426

249,264,000

13,604,325,471

Aug 09, 2018

0.333771

0.359654

0.332608

0.346771

325,775,000

13,117,166,262

Aug 08, 2018

0.380875

0.380875

0.326996

0.331944

360,857,000

14,968,341,740

Aug 07, 2018

0.413776

0.415917

0.379526

0.381006

244,448,000

16,261,364,052

Aug 06, 2018

0.433886

0.435794

0.406680

0.414081

242,075,000

17,051,681,452

Aug 05, 2018

0.428580

0.434594

0.427522

0.433638

186,848,000

16,843,146,733

Aug 04, 2018

0.441039

0.443058

0.427125

0.428507

185,678,000

17,332,793,629

Aug 03, 2018

0.430397

0.443633

0.426481

0.440571

278,870,000

16,921,348,859

Aug 02, 2018

0.447016

0.447645

0.429939

0.430254

204,898,000

17,574,734,907

Aug 01, 2018

0.435562

0.459134

0.427168

0.445852

323,200,000

17,124,399,552

Jul 31, 2018

0.445892

0.446124

0.427753

0.435225

228,767,000

17,530,533,747

Jul 30, 2018

0.453469

0.454549

0.436964

0.446107

247,714,000

17,828,443,993

Jul 29, 2018

0.456606

0.457140

0.450249

0.453306

191,966,000

17,951,776,768

Jul 28, 2018

0.454599

0.456170

0.449695

0.453667

157,346,000

17,872,869,376

Jul 27, 2018

0.449623

0.459486

0.445224

0.453635

203,720,992

17,677,234,176

Jul 26, 2018

0.459447

0.466983

0.446849

0.449920

199,587,000

18,063,500,000

Jul 25, 2018

0.455842

0.465526

0.450719

0.459829

255,872,000

17,921,700,000

Jul 24, 2018

0.445559

0.466819

0.438565

0.457623

319,956,000

17,517,500,000

Jul 23, 2018

0.449121

0.461783

0.444498

0.445276

194,542,000

17,657,500,000

Jul 22, 2018

0.455002

0.460989

0.449140

0.449311

158,906,000

17,888,700,000

Jul 21, 2018

0.446219

0.458755

0.438318

0.455410

180,339,000

17,543,400,000

Jul 20, 2018

0.476485

0.476485

0.436483

0.446994

295,403,000

18,733,300,000

Jul 19, 2018

0.487577

0.491237

0.471724

0.476433

293,942,000

19,143,500,000

Jul 18, 2018

0.505118

0.519560

0.477234

0.486389

367,989,000

19,832,200,000

Jul 17, 2018

0.481301

0.516604

0.470048

0.505587

347,700,000

18,897,100,000

Jul 16, 2018

0.446413

0.483401

0.444505

0.483401

269,283,000

17,527,300,000

Jul 15, 2018

0.439095

0.448987

0.437194

0.445894

152,903,000

17,239,900,000

Jul 14, 2018

0.438561

0.441646

0.433895

0.439271

134,841,000

17,219,000,000

Jul 13, 2018

0.436514

0.444508

0.434805

0.438741

179,403,000

17,138,600,000

Jul 12, 2018

0.449882

0.449972

0.428033

0.435364

182,139,000

17,663,500,000

Jul 11, 2018

0.445127

0.452545

0.443574

0.450233

183,887,000

17,476,800,000

Jul 10, 2018

0.473855

0.474336

0.443261

0.445042

230,418,000

18,604,700,000

Jul 09, 2018

0.477291

0.480774

0.472653

0.474270

206,345,000

18,739,600,000

Jul 08, 2018

0.492319

0.494895

0.475966

0.477749

226,644,000

19,329,600,000

Jul 07, 2018

0.478617

0.492477

0.467716

0.492477

214,979,000

18,791,700,000

Jul 06, 2018

0.480579

0.481473

0.462414

0.479151

245,003,000

18,868,700,000

Jul 05, 2018

0.490422

0.497402

0.472966

0.481625

279,999,000

19,255,000,000

Jul 04, 2018

0.485584

0.503604

0.475774

0.490043

313,829,000

19,065,000,000

Jul 03, 2018

0.486259

0.515696

0.480843

0.485223

410,226,000

19,091,500,000

Jul 02, 2018

0.461606

0.488924

0.453839

0.486122

335,919,000

18,123,600,000

Jul 01, 2018

0.465944

0.466280

0.450816

0.461358

267,225,000

18,293,900,000

Jun 30, 2018

0.454112

0.480147

0.454112

0.466245

345,529,000

17,829,400,000

Jun 29, 2018

0.448354

0.458340

0.427302

0.453080

309,778,000

17,603,300,000

Jun 28, 2018

0.470330

0.471683

0.445750

0.448458

220,566,000

18,466,100,000

Jun 27, 2018

0.455551

0.472758

0.451960

0.470370

215,618,000

17,885,900,000

Jun 26, 2018

0.482381

0.482872

0.456001

0.456001

179,426,000

18,939,300,000

Jun 25, 2018

0.477106

0.491110

0.475560

0.481753

231,729,000

18,724,200,000

Jun 24, 2018

0.491773

0.493725

0.450048

0.477380

369,520,000

19,299,800,000

Jun 21, 2018

0.539228

0.547007

0.530697

0.534775

194,312,000

21,162,200,000

Jun 20, 2018

0.549738

0.550554

0.525859

0.539286

256,920,000

21,574,600,000

Jun 19, 2018

0.538614

0.558059

0.534595

0.549621

255,400,000

21,138,100,000

Jun 18, 2018

0.528820

0.547794

0.511833

0.537495

276,527,000

20,753,700,000

Jun 17, 2018

0.535536

0.538881

0.525215

0.528216

166,028,000

21,017,300,000

Jun 16, 2018

0.537106

0.539293

0.523588

0.534784

202,682,000

21,078,900,000

Jun 15, 2018

0.560062

0.560062

0.534301

0.537707

241,685,000

21,979,800,000

Jun 14, 2018

0.535435

0.570590

0.526614

0.561306

379,825,000

21,012,800,000

Jun 13, 2018

0.562845

0.564642

0.517036

0.534663

359,865,000

22,088,500,000

Jun 12, 2018

0.602136

0.602139

0.556653

0.562933

309,544,000

23,630,400,000

Jun 11, 2018

0.586198

0.604066

0.568721

0.604066

336,547,000

23,004,900,000

Jun 10, 2018

0.659514

0.659514

0.561237

0.588126

492,555,000

25,882,200,000

Jun 09, 2018

0.674778

0.678893

0.659755

0.659755

175,990,000

26,481,200,000

Jun 08, 2018

0.677586

0.679668

0.660804

0.674343

221,887,000

26,591,400,000

Jun 07, 2018

0.675313

0.688223

0.673146

0.678128

244,568,000

26,500,300,000

Jun 06, 2018

0.677901

0.681668

0.660059

0.674797

273,966,000

26,601,900,000

Jun 05, 2018

0.661898

0.683840

0.641428

0.677015

386,328,000

25,973,900,000

Jun 04, 2018

0.692466

0.703623

0.644603

0.661425

558,131,000

27,173,400,000

Jun 03, 2018

0.643412

0.673594

0.640891

0.671205

327,804,000

25,248,500,000

Jun 02, 2018

0.623462

0.648982

0.619477

0.643451

315,206,000

24,465,600,000

Jun 01, 2018

0.612893

0.624824

0.609069

0.623364

263,088,000

24,019,200,000

May 31, 2018

0.603452

0.621636

0.596089

0.612622

283,328,000

23,649,300,000

May 30, 2018

0.603769

0.627679

0.590058

0.605817

320,605,000

23,661,700,000

May 29, 2018

0.556084

0.610749

0.551635

0.601241

380,744,000

21,792,900,000

May 28, 2018

0.608368

0.609781

0.552299

0.552299

327,903,000

23,841,900,000

May 27, 2018

0.612040

0.612884

0.603328

0.607881

186,963,000

23,985,800,000

May 26, 2018

0.610118

0.626494

0.603800

0.612708

213,242,000

23,910,500,000

May 25, 2018

0.632924

0.636208

0.603334

0.611001

289,816,000

24,804,300,000

May 24, 2018

0.599207

0.640258

0.589272

0.631997

440,533,000

23,482,900,000

Another fact to consider here is that a significant chunk of it is held by the Ripple Company, which means that they can technically flood the market with massive amounts of their XRP to keep the price under control.

Nonetheless, the spike in price that took the world by surprise was driven primarily by the growing popularity of cryptocurrencies. As the price of Bitcoin surged in late 2017, so did the price of other cryptocurrencies like Ether and Ripple.

Until April 2017, 1 Ripple XRP was valued to be at around $0.05. In May, the price went up to $0.31 and it stayed on this wavelength till the end of the year, when the cryptocurrency recorded a five-fold increase. On December 31, 2017, 1 XRP was equivalent to $2.28 and by the end of the first week of January 2018, the same was valued at $3.40. The price increased tenfold in a matter of months, thus giving much better returns than the traditional investments out there. However, just like other cryptocurrencies out there, the rally did not last for long and the price came down soon after achieving record highs. At the time of writing this article, 1 XRP is equivalent to $0.55.

Since Ripple is essentially a technology services provider, the ideal thing would be to have the company listed on stock exchanges like NASDAQ and NYSE, and then benefit from the company's growth. The company is already profitable, which is partly owing to its XRP sale. As more and more banks become a part of the Ripple network to solve their cross-border payment problems, we can expect the Ripple Company to become more profitable.

Risks associated with investing in Ripple

Ripple XRP is definitely different compared to the other players out there. Its blockchain technology is being adopted by some of the leading financial institutions across the world and it serves as one of the few legitimate competitors to the existing financial system. It is already changing the way we move money around the world and in the coming years, we may very well be in for a massive overhaul of international transaction systems. However, for this to happen, a lot of things have to go right for the Ripple Company.

Coming to the Ripple XRP tokens, unless you run a financial institution, there are not that many practical uses of owning XRP. This token solely serves as an efficient way for banks to move money around in different currencies. Therefore, for an average man to get some value out of Ripple XRP, the only feasible way would be through cryptocurrency exchanges, although as we have seen, it is highly volatile and precarious.

Therefore, instead of risking your hard-earned money in these volatile cryptocurrencies, it is better to take the safe way and invest in legal, safe instruments such as mutual funds. It does not require a lot of effort and additionally, it generates steady returns in the long run. Furthermore, it is not subjected to legal issues and controversies like Bitcoin and other decentralised virtual currencies out there.

Ripple (XRP) News and Developments

Ripple has been one of the most popular cryptocurrency projects in the world, primarily because of it real-world applications. Its technology and protocol has been adopted by several prominent financial institutions in the world. Most recently, payment provider TransferGo has decided to use Ripple's services and infrastructure for real-time transactions.

Ripple has also ramped up its investments in the blockchain space. In June 2018, it launched the University Blockchain Research Initiative Program with 17 premier universities from across the world. The idea behind this program is to promote and support academic research, innovation, projects, and technical developments in the field of blockchain technology, cryptocurrency, and digital payments. It will be donating a total of $50 million to the cause.

The company has also invested in Blockchain Capital for the same purpose. It invested a total of $25 million in XRP to boost businesses and applications built on blockchain technology.

Considering the price of Ripple XRP token, it has been going down ever since the cryptocurrency bubble collapsed in February 2018. After reaching its high above the $3 mark, the price descended back to its previous levels below the $0.8 mark. The price continued to fall gradually and eventually, it went below the half dollar mark.

Disclaimer:

"The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.

A&A Dukaan Financial Service Private Limited ("BankBazaar") does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."

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