What is XRP (XRP)?

This article is about Ripple – the company that created the Ripple Consensus Ledger, and XRP as a digital asset. Ripple is the sixth-biggest digital currency in terms of market capitalisation. If you’re wondering what XRP is, and where it fits into the increasingly fragmented crypto landscape, you’ve come to the right place.

Does ripple own XRP?

Ripple owns more than half of the supply of XRP, and most of it is in escrow, as mentioned above. Every now and again, the company releases some of these tokens, a move that can suppress its value and that has angered some investors. Aside from that, what affects the Ripple price?

What is the XRP Ledger?

He then enlisted developers David Schwartz and Arthur Britto to help bring it to life, and they began creating the XRP Ledger (XRPL). Their idea was to create a digital asset that was more sustainable than bitcoin, specifically set up to process payments. According to Ripple’s own account of its history, the XRPL first launched in June 2012.

What happened to XRP?

Like other digital assets, XRP hit an all-time high in early 2018 – reaching $3.84 on 4 January of that year. Ever since then, the value of the XRP crypto has continued to fall. On 22 August 2022, for example, it was fluctuating around $0.34. The steady decline in value can in part be attributed to Ripple’s actions.