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March 26, 2023
1HomeRipple

Ripple

Ripple breaking news

Ripple is a financial system that functions as both a cryptocurrency and a digital payment network. Chris Larsen and Jed McCaleb co-founded and launched it in 2012. Ripple’s primary function is to act as a payment settlement asset exchange and remittance system, comparable to the SWIFT system for international money and security transfers.

The cryptocurrency’s token, XRP, is pre-mined and has the ticker sign XRP. The firm and network are known as Ripple, and the cryptocurrency coin is known as XRP. The objective of XRP is to act as a type of interim settlement layer denomination, acting as an intermediary mechanism of trade between two currencies or networks.

Ripple is a peer-to-peer decentralized open-source network that enables the smooth movement of money in any form, including dollars, yen, euros, and cryptocurrencies such as Litecoin and bitcoin. It’s a worldwide payments network with central banks and financial institutions as clients. Its products employ XRP to allow for fast conversion between multiple currencies.

History

Ryan Fugger, a Web developer in Vancouver, B.C., Canada, was the first to integrate Ripple currency in 2004. In 2005, Fugger started developing Ripplepay as a financial solution that would allow members of an online community to make safe payments over a worldwide network. In May 2011, developers launched a new digital currency system based on this protocol, complete with its cryptocurrency, XRP.

Jed McCaleb developed a new method as a result of this in 2011. He created it to replace Bitcoin’s dependency on centralized exchanges, use less power, and process transactions considerably faster than Bitcoin.

RTXP was founded in 2012 with the mission of providing “safe, fast, and almost free worldwide money operations of any amount without chargebacks.” People could make payments using fiat cash, cryptocurrency, commodities, or other units such as bonus miles or mobile minutes.

Bitcoin legalization and its ripple effects worldwide

El Salvador is becoming the first country to recognize Bitcoin as a legal currency alternative to the US dollar. Since COVID-19 sparked the spread of fiat digital currencies, this should come as no surprise.

Venezuela is rated third on Chainalysis’ Global Crypto Adoption Index, which studies blockchain transactions. Venezuela is already adopting cryptocurrency to alleviate its economic woes, but Paraguay, Panama, Mexico, and Brazil may follow suit. El Salvador is not going to be an outlier.

Latin American governments and politicians are exploring alternative currencies as reserve currencies in addition to the US dollar to offer liquidity and risk mitigation. When COVID-19 went into effect, the dollars in countries’ reserves began to lose value, and the quest for a new currency to hedge against inflation began.

According to international commercial law, all treaties where El Salvador is a party recognize Bitcoin as legal money. Therefore, other signatories to these treaties and banks and financial organizations will be forced to adopt this currency.

We cannot underestimate the importance of public education regarding new cryptocurrencies. People who live under authoritarian governments that use financial systems to impose control advocate for its acceptance since decentralized cryptocurrencies imply governments can’t confiscate the assets of political opponents if they disagree with the political agenda.

Ripple

What Should Scare Holders this Halloween? 

October 20, 2022 John 0

It’s the time of the year for campfire stories, horror movies, and Halloween costumes. However, very real frights could be in store for some cryptocurrencies, as the shifting sands of the blockchain market can be […]

Ripple

Largest cryptocurrencies fall as Ripple declines

October 20, 2022 John 0

All of the largest cryptocurrencies were down during morning trading on Wednesday, with Ripple XRPUSD, -1.17% seeing the biggest change, falling 3.37% to 45 cents. Cardano ADAUSD, -1.69% shed 2.83% to 35 cents, and Uniswap […]

Ripple

Helius Raises $3.1M to Make Solana App Building ‘Faster and Cheaper’

October 19, 2022 John 0

In brief Helius, a Solana infrastructure startup, raised a $3.1 million seed round. The development platform was co-founded by former Coinbase and Amazon engineers. Solana infrastructure startup Helius today announced that it raised a $3.1 […]

Ripple

Will Ripple Beat SEC in Court? How Both Outcomes Impact XRP Price

October 19, 2022 John 0

Ripple (XRP) has little to no volatility or gains to offer HODLers and investors as its battle with the SEC continues, despite being the sixth-largest crypto by market capitalization. XRP price and XRP HODLers’ bags […]

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REAL TIME UPDATE

Name Price
bitcoin
Bitcoin (BTC)
$31,351.00
ethereum
Ethereum (ETH)
$1,938.40
cardano
Cardano (ADA)
$0.62
ripple
XRP (XRP)
$0.409542
litecoin
Litecoin (LTC)
$67.15
bitcoin-cash
Bitcoin Cash (BCH)
$192.50
monero
Monero (XMR)
$193.96
iota
IOTA (MIOTA)
$0.341175
dash
Dash (DASH)
$61.18
nem
NEM (XEM)
$0.051781

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  • bitcoinBitcoin(BTC)$31,351.002.01%
  • ethereumEthereum(ETH)$1,938.401.63%
  • cardanoCardano(ADA)$0.6214.64%
  • rippleXRP(XRP)$0.4095421.90%
  • litecoinLitecoin(LTC)$67.150.30%
  • bitcoin-cashBitcoin Cash(BCH)$192.501.94%
  • moneroMonero(XMR)$193.96-0.59%
  • iotaIOTA(MIOTA)$0.3411750.75%
  • dashDash(DASH)$61.18-0.08%
  • nemNEM(XEM)$0.0517811.62%