What is XRP
XRP is the crypto-asset of the company Ripple Labs, built to allow banks and financial institutions to use blockchain technology in international transactions, making cross-country money movements faster and cheaper.
Its network is able to validate around 1,500 transactions per second and XRP can be exchanged with other crypto-assets, fiat currencies or securities at minimal fees. It is also one of the longest-standing crypto-assets: it has existed since 2013.
How it began and how it works
The project was created in 2013 by Chris Larsen and Jed McCaleb, with the aim of overcoming some of Bitcoin’s limitations through a faster protocol with near-zero fees. The network does not use mining but its own mechanism, the Ripple Consensus, in which payments are verified by a set of validators (historically including research institutions).
On the regulatory side, in 2023 Ripple obtained a favourable outcome in its case with the SEC in the United States, where XRP was not classified as a “security” for the purposes of US law. This is a legal framing specific to that context: in the European Union, XRP remains a crypto-asset under the MiCAR Regulation.
The utility of the XRP token
Within the network, XRP is used to settle transactions and to pay the small required fees. In the model promoted by Ripple it can act as a “bridge” asset to facilitate the exchange between different currencies without having to maintain pre-funded accounts in each of them. Holding XRP does not entitle the holder to any guaranteed return.
Price trends and what to consider
Like all crypto-assets, XRP has shown a highly volatile price trend, historically sensitive also to the regulatory and judicial developments concerning Ripple. Its quotations can be influenced by the general trend of the crypto market and by the adoption of the network in payments.
Past performance is not a guarantee of future results.
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