Ripple is an open source payment network. The coin associated with Ripple is XRP. Developed in 2012 by Ripple Labs, Ripple enables peer-to-peer transactions. What is unique about Ripple is that it does not operate on a blockchain, but on a proprietary technology developed in-house called Ripple Protocol Consensus Algorithm (RPCA). This means the XRP coins do not need to be mined or staked, saving energy costs and keeping transaction costs low.
Ripple was launched in 2012 by Ripple Labs to enable a decentralized and fast payment system for banks.
Ripple can process and validate a transaction within 5 seconds, thanks to a network of servers.
Ripple mainly targets banks and other companies offering payment options. Ripple works with MoneyGram, American Express, Santander and Interbank, among others.
The perfect time to buy?
Ripple statistics from the last 24 hours
Why buy XRP at Anycoin Direct?
With more than 14,000 reviews on TrustPilot (average score of 9.0) and official registration with The Dutch Central Bank (DNB), Anycoin Direct has been one of the most trusted crypto services in Europe since 2013.
If you have any questions you can always contact one of our knowledgeable colleagues via chat, phone or mail.
Anycoin was founded in 2013 and is registered at the central bank of The Netherlands and the Austrian Finance Authority.
You can pay with all of the most commonly used payment methods in Europe.
The first transaction on Ripple's network took place in July 2013. The value at that time for an XRP coin was $0.005 per XRP. From then on, investors became interested in the project and the XRP price began to rise rapidly. In just two months, the price managed to double to $0.01 per XRP.
The coin linked to Ripple is XRP. This coin was launched along with the network in 2012. This makes Ripple one of the oldest cryptocurrencies. At the end of the bull run in January 2018, Ripple managed to reach its all-time high of 3.95 euros per XRP coin. Since then, the price has never been able to reach a new all-time high. Indeed, in the 2021 bull run, Ripple, 'only' reached a price of over 1.37 euros per XRP coin.
Ripple's price has suffered considerably in recent years. The lawsuit against the SEC is a major reason for this. In late 2020, the SEC, sued Ripple. According to the SEC, Ripple would not be a cryptocurrency at all, but a security. Ripple would therefore fall under US securities laws, meaning the issuance of XRP coins was unlawful.
Should Ripple win the lawsuit, this could trigger a bullish price movement for XRP. If Ripple loses the lawsuit, this could be bad for the entire crypto market.
Banks currently use the SWIFT network to allow international transactions to communicate with each other. SWIFT was developed in 1974 and is still used to enable international trade. Ripple wants to become a better version of SWIFT and wants to persuade businesses to start using XRP for international transactions. How? By making transactions with XRP cheaper, faster and more efficient.