Buying XRP is possible on the Internet, via various crypto asset trading or selling sites, such as Coinbase. At the top of the cryptocurrency rankings, XRP has established itself as a must-have token. Thanks to its near-instantaneous transactions and simplified payment, it has won over many investors. Find out in a few minutes the key features of this particularly attractive digital currency.
XRP dollar price chart
Current XRP price
Like any digital currency, the XRP price fluctuates daily. The general trend, however, is upward. On February 24, 2021, it was worth $0.48.
XRP price history
XRP went public in 2012, with a price set at $0.10. In the years that follow, it moves only slightly. Its value increased in 2014 to reach $0.30. After stabilizing until early 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, it fell sharply in 2018 ($0.25) and finally reached an average value of $0.50 until today.
XRP stock exchange: what sets 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, since it is not possible to mine XRP, the number of tokens in circulation is limited.
What factors influence XRP’s value?
- The press and public opinion greatly influence the price of XRP. Thus, favorable or negative media coverage for the token can change its reputation and consequently change its demand, and therefore its price.
- The ownership of a large portion of XRP by a few investors may alter its price.
- Specific events such as announcements, technological developments, the arrival of new competing cryptocurrencies or government regulations and decisions cause its value to vary.
XRP forecasts and future
The price of digital currencies is constantly changing and XRP is no exception. However, general trends are emerging. For 2021, Wallet Investor estimates a price change between $0.20 and $0.60. Trading Beasts is less ambitious, putting that range at $0.20 to $0.31. In 2022, the estimates all seem to converge around $0.50 for one XRP.
XRP: what is it?
XRP, originally called Ripple, after its issuing company, is a cryptocurrency created in 2004. It allows the exchange of currencies as well as precious metals. By doing away with confirmation periods, this cybercurrency considerably speeds up transactions, and at a lower cost.
XRP features explained
As you can see, the major advantages of trading with XRP are the quickness (5 seconds at most) and ease of execution. Whether it’s digital or fiat currency, users can exchange anything with XRP. With a global network, it is widely used by banks and individuals. Finally, XRP is based on an iterative process, i.e. repetitive, as the main way to send funds. Mining is impossible, as the number of XRP on the market is fixed and controlled by Ripple.
How does XRP work?
The operating mode of XRP is quite different from other cryptocurrencies. Indeed, the Ripple blockchain does not require miners to confirm transaction blocks after calculations. All XRP are already created (pre-mined), but are not systematically in circulation (about 60% of them are blocked) and transactions are guaranteed thanks to a voting technique.
The XRP blockchain explained
Ripple has created a blockchain specific to its digital currency. This blockchain constitutes a real transaction confirmation network based on decentralized servers and a public database. All transaction details are recorded on this blockchain, whose history is not controlled by financial institutions. This guarantees a real transparency of information, accessible directly on the Internet.
What is the purpose of XRP?
XRP makes it possible to simplify 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 financial system’s infrastructure, which is less and less competitive. It is a cheap and very fast alternative to the traditional SWIFT for example. In this, XRP competes with other cryptocurrencies such as Bitcoin.
Our opinion on XRP: is it too late to invest?
Ranked among the most popular cryptoassets in the world, 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.
Can we trust XRP?
XRP allows you to be free from financial institutions while keeping them as a trusted third party.
How much is one XRP?
One XRP is worth $0.4694 (rate as of 2/24/2021).
What can I buy with XRP?
This cryptocurrency can be used to purchase 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 it is online, desktop or physical.
What happens if I lose my XRP?
If you lose your access to your Ripple wallet, you lose your XRP.
How to protect my XRP?
It is essential to secure your Ripple wallet, for example by using physical wallets. A complex password and recovery key are also recommended. It is recommended not to save your codes on your computer.
How many XRPs are in circulation worlwide?
There are currently just over 43 billion XRP in circulation, out of the 100 billion that exist.