Obtaining XRP
XRP can be purchased online via various cryptoasset trading and sales sites, such as Coinbase. At the top of the cryptocurrency league table, XRP has established itself as a must-have token. Thanks to its near-instantaneous transactions and simplified payment, it has won over many investors. Take a few minutes to discover the key features of this particularly attractive digital currency.
XRP euro rate chart
The current XRP rate
Like all digital currencies, the XRP rate fluctuates daily. However, the general trend is upwards. On 24 February 2021, it will be worth €0.3938 ($0.48).
Historical XRP rate
The XRP was listed on the stock exchange in 2012, with a price set at $0.10. In the years that followed, it changed only slightly. Its value rose in 2014 to reach $0.30. After stabilising until the beginning of 2017, its price increased by $0.10 before returning to $0.20. XRP broke its own record in December of the same year, with a value of $3.25. However, the price fell sharply in 2018 (by $0.25), before finally finding a break-even point at around $0.50 until today.
XRP stock market: what determines the price of XRP?
The price of XRP depends on market fluctuations. It is determined by supply and demand: the more XRP is in demand, the more expensive it will be, and vice versa. Furthermore, as it is not possible to mine XRP, the number of tokens in circulation is limited.
What factors affect the value of XRP?
The press and public opinion have a major influence on the price of XRP. Positive or negative media coverage of a token can affect its reputation and consequently its demand, and therefore its price.
The holding of a large proportion of XRP by a few investors can alter its price.
Specific events such as announcements, technological developments, the arrival of new competing cryptocurrencies or government regulations and decisions can cause its value to fluctuate.
Forecasts and the future of XRP
The price of digital currencies fluctuates constantly, and XRP is no exception. However, some general trends are emerging. For 2021, Wallet Investor estimates a variation in its price of between $0.20 and $0.60. Trading Beasts is less ambitious, putting the range at between $0.20 and $0.31. In 2022, the calculations all seem to converge around $0.50 for an XRP.
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XRP definition: what is it?
XRP, originally called Ripple after its issuer, is a cryptocurrency created in 2004. It can be used to exchange currencies and precious metals. By doing away with confirmation periods, this cybercurrency speeds up transactions considerably, and at a lower cost.
XRP features explained
As you will have gathered, the major advantages of XRP transactions are speed (5 seconds at most) and ease of execution. Whether digital or fiat currency, users can exchange anything with XRP. With a global network, it is widely used by banks and private individuals. Finally, XRP is based on an iterative process as the main means of sending funds. Mining is impossible, as the number of XRP on the market is fixed and controlled by Ripple.
How does XRP work?
XRP operates in a very different way to other cryptocurrencies. The Ripple blockchain does not require miners to validate transaction blocks after calculation. All XRP are already created (pre-mined), but are not systematically in circulation (around 60% of them are blocked) and transactions are guaranteed using a voting technique.
Obtaining XRP
The XRP blockchain explained
Ripple has created a blockchain specific to its digital currency. This constitutes a veritable transaction confirmation network based on decentralised servers and a public database. All transaction details are recorded on this blockchain, whose history is not controlled by financial institutions. This guarantees genuine transparency of information, which is accessible directly on the Internet.
What is XRP used for?
XRP simplifies financial transactions, especially between different types of assets and currencies. Payments are ultra-fast and can be made online.
Why use XRP?
Choosing XRP means freeing yourself from the increasingly uncompetitive infrastructure of the financial system. It is an inexpensive and very fast alternative to traditional SWIFT, for example. In this respect, XRP competes with other cryptocurrencies such as Bitcoin.
XRP Opinion: Is it too late to invest?
Ranked among the world’s most popular cryptoassets, XRP has become a virtual currency of choice. Some even believe that its value can only inflate, especially with the current uncertainty surrounding Covid-19.
Frequently asked questions :
Can XRP be trusted?
XRP allows you to free yourself from financial institutions while retaining them as a trusted third party.
How much is an XRP worth?
One XRP is worth $0.4694 (rate on 24/02/2021).
What can I buy with XRP?
This cryptographic currency can be used to buy all types of financial assets, various currencies and even precious metals.
Where can I store my XRP?
They can be stored in a dedicated Ripple wallet, whether online, desktop or physical.
What happens if I lose my XRP?
If you lose access to your Ripple wallet, you lose your XRP.
How can I protect my XRP?
It is essential to secure your Ripple wallet, for example by using physical wallets. You should also use a complex password and recovery key. We recommend that you do not save your codes on your computer.
How many XRPs are in circulation around the world?
There are currently just over 43 billion XRP in circulation, out of the 100 billion in existence.
Other cryptocurrencies in 2021
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