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The XRP price surge also comes as investors bet on the future of Ripple products. Fox Business reported that the company’s long-awaited stablecoin, RLUSD , is poised for regulatory approval in ...
Aside from broader market-related tailwinds, there are other token-specific factors driving today's positive price action with XRP. On Saturday, XRP saw its open interest surge to a record high ...
The open-source project was originally called "Ripple", the unique consensus ledger was called the Ripple Consensus Ledger, the transaction protocol was called the Ripple Transaction Protocol or RTXP and the digital asset (known as "ripples") using XRP as the three-letter currency code to follow the naming convention of BTC for Bitcoin.
This coin has been extremely volatile in the past several years.
The firm funds accepted startups with up to US$50,000 (equivalent to $64,352 in 2023) in XRP, Ripple's native currency, in exchange for a 3% to 6% stake in diluted common stock. Mentorship and support is provided by CrossCoin and Ripple Labs, Inc. [19] Ripple also developed early partnerships with companies such as ZipZap. [20] [21]
Garlinghouse joined Ripple as COO in April 2015, reporting to then CEO and co-founder Chris Larsen. He was promoted to CEO in December 2016. [8] In December 2019, Garlinghouse announced that Ripple had raised a $200M series C funding round from Tetragon, SBI Ventures and Route 66 Ventures. [9]
A judge imposed a small-than-expected $125 million fine on Ripple, the company that operates XRP. But the SEC wasn't happy with that ruling, and the agency recently filed a notice of appeal .
Since the creation of bitcoin in 2009, the number of new cryptocurrencies has expanded rapidly. [1] The UK's Financial Conduct Authority estimated there were over 20,000 different cryptocurrencies by the start of 2023, although many of these were no longer traded and would never grow to a significant size. [2]