When was Ripple issued? Learn about the origin of Ripple in one article
- WBOYOriginal
- 2024-08-06 16:50:01260browse
Ripple was born in June 2012 and was created by Jed McCaleb and Chris Larsen to provide faster and cheaper cross-border payment services through its distributed ledger technology platform. As the native token of the platform, Ripple plays the following roles: transaction fee payment, bridge currency during transactions, and participation in the consensus mechanism.
Birthday of Ripple: June 2012
Ripple (XRP) was founded on June 30, 2012 by Jed McCaleb and Chris Larsen.
The origin of Ripple
Ripple was born out of dissatisfaction with the inefficiency and high cost of the traditional international remittance system. The founders aim to create a faster, cheaper and more transparent cross-border payments network.
XRP is built on the Ripple Network, a distributed ledger technology (DLT) platform designed to facilitate fast, low-cost transactions between financial institutions. As the native token of the platform, Ripple plays the following roles:
- Transaction Fees: XRP is used to pay transaction fees on the network.
- Liquidity: XRP acts as a bridge currency during transactions to facilitate conversion between different currencies.
- Consensus: Network participants use XRP to participate in the consensus mechanism and verify the validity of transactions.
Since its launch, Ripple has become one of the top digital assets in the cryptocurrency market by market capitalization. It is recognized for its fast transaction speeds, low transaction fees, and partnerships with financial institutions.
XRP Price Update
As of 16:00 on August 5, 2024, the price of XRP is $0.47. Its trading volume was $2.99 billion in the past 24 hours and the price fell by 13.36%.
Price Volatility Factors
The recent decline in XRP price may be due to regulatory uncertainty and an overall cryptocurrency market downturn. The ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple Labs has also weighed on the currency.
Future Price Movement
XRP’s future price movement is difficult to predict, but some analysts believe the currency may face further downward pressure in the near term. However, if regulatory uncertainty is resolved or the cryptocurrency market improves, XRP’s price could also rise.
Investor Action Recommendations
Investors should pay close attention to recent developments in XRP, including regulatory developments and overall market conditions. Given the current uncertainty, prudent investment is advised.
Short-term trend forecast
In the short term, the price of XRP is likely to fluctuate around current levels, with limited upside and downside.
Indicator
- Current price: 0.47 USD
- 24 hour trading volume: 2.99 billion USD
- 24 hour price change: -13.36%
- Circulation volume: 559.9 billion XRP
- Maximum supply: 1,000 billion XRP
- Total supply: 559.9 billion
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