XRP Price In India

XRP Price Live Data

XRP is the native cryptocurrency on the XRP ledger, which is a blockchain originally developed in 2011 by developers David Schwartz, Arthur Britto and Jed McCaleb.

XRP officially launched in 2012, but the founding team soon formed a new company called “OpenCoin” and later changed its name to Ripple Labs Inc. It was shortened to just Ripple in 2015.

It may be noted that XRP and Ripple are fundamentally linked, but they operate as two distinct entities. While Ripple is a fintech company that builds global payment solutions, XRP is an independent digital asset that can be used for microtransactions, remittance and online payments.

The original founders of Ripple pre-mined one hundred billion XRP tokens in 2012 and Ripple retained 80 billion tokens to fund future operations and development.

Meanwhile, the founders divided the remaining XRP between them. XRP works differently from Bitcoin and other mined cryptocurrencies – new XRP tokens enter into circulation whenever Ripple decides to sell coins from its pre-mined stash on the secondary market.

The company had transferred 55 billion of its 80 billion XRP tokens into an escrow account in 2017 and it could sell a maximum of one billion tokens a month on the secondary market. This move was implemented to improve the transparency and predictability of XRP being sold by Ripple.

It is worth mentioning that Ripple developed the XRP ledger to facilitate cross-border payments between banks around the world. The ledger is a network of peer-to-peer servers that powers XRP operations. XRP is one of the most popular cryptocurrency tokens in the virtual coin market.