XRP Reaches 24 Hour Trading Volume of $911.01 Million (XRP)

XRP (XRP) traded 1.2% lower against the US dollar during the one day period ending at 14:00 PM E.T. on February 1st. One XRP coin can currently be purchased for about $0.40 or 0.00001742 BTC on major cryptocurrency exchanges. During the last week, XRP has traded 1.3% lower against the US dollar. XRP has a market cap of $20.39 billion and approximately $911.01 million worth of XRP was traded on exchanges in the last day.

Here is how similar cryptocurrencies have performed during the last day:

  • KILT Protocol (KILT) traded down 1.8% against the dollar and now trades at $0.65 or 0.00002826 BTC.
  • Aidi Finance (BSC) (AIDI) traded down 2.5% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Zoo Token (ZOOT) traded 1% lower against the dollar and now trades at $0.0598 or 0.00000259 BTC.
  • CareCoin (CARES) traded 1% lower against the dollar and now trades at $0.0742 or 0.00000322 BTC.
  • OmniaVerse (OMNIA) traded 83.6% higher against the dollar and now trades at $0.0034 or 0.00000015 BTC.
  • Kitty Inu (KITTY) traded 1% lower against the dollar and now trades at $91.91 or 0.00398094 BTC.
  • Lunar (LNR) traded down 2.8% against the dollar and now trades at $0.0272 or 0.00000118 BTC.
  • Hokkaidu Inu (HOKK) traded down 4.7% against the dollar and now trades at $0.0005 or 0.00000002 BTC.
  • QANplatform (QANX) traded 1% lower against the dollar and now trades at $6,451.05 or 0.27942347 BTC.
  • 2G Carbon Coin (2GCC) traded 0.1% higher against the dollar and now trades at $135.46 or 0.00586737 BTC.

XRP Profile

XRP uses the hashing algorithm. It launched on January 1st, 2013. XRP’s total supply is 99,989,140,193 coins and its circulating supply is 50,803,611,248 coins. The official message board for XRP is www.xrpchat.com. XRP’s official Twitter account is @ripple and its Facebook page is accessible here. The official website for XRP is xrpl.org. The Reddit community for XRP is https://reddit.com/r/ripple and the currency’s Github account can be viewed here.

According to CryptoCompare, “What is XRP?XRP is the native token of the XRP Ledger and positions itself as a “fast and green” digital asset that was built “to be the most practical cryptocurrency for applications across the financial services space.” It offers fast transaction settlements, can handle thousands of transactions per second, and relies on hundreds of validators on its network.The cryptocurrency aims to complement traditional payment methods, and allows regulated entities to follow strict money transmission laws. While more open blockchains like that of Bitcoin (BTC) allow anyone to contribute to the network and validate transactions, the XRP Ledger relies on approved validators.All 100 billion XRP were distributed when the cryptocurrency was created, with some of the tokens going to its creators, and other being sent out through gifts and giveaways. A large percentage of XRP’s supply is held in escrow.Who created XRP?Several individuals were involved in creating the technology behind XRP and the businesses that helped it grow to become one of the largest cryptocurrencies by market capitalization.Mt. Gox founder Jed McCaleb, Arthur Britto, and Chris Larsen are often credited for creating XRP. These three individuals have notable careers and were also the co-founders of OpenCoin, a fintech firm that rebranded to Ripple.Other notable individuals involved included Stefan Thomas, a Bitcoin Core contributor and former Ripple CTO, David Schwarz, co-author of the Ripple white paper, along with Arthur Britto.Ripple is one of the largest XRP Ledger players and is directly associated with the cryptocurrency. It plays a critical role in developing the XRP Ledger and its ecosystem.What is Ripple’s relation to XRP?Ripple is a for-profit company founded in 2012 under the name OpenCoin. OpenCoin rebranded to Ripple Labs in 2013, before settling on Ripple in 2015. The company’s involvement with XRP is “focused on building technology to help unleash new utility for XRP and global payments.”Ripple promotes and uses the XRP token through its RippleNet product, which the company says offers connections to financial institutions worldwide and makes moving money “faster, cheaper and more reliable.”RippleNet uses XRP to source liquidity for cross-border transactions. Its use eliminates the need to pre-fund accounts and is used by financial giants, including Santander, Bank of America, SBI Remit, Banco Rendimento, and others.Blockchain data provided by: Blockchair (Block/Ledgers Number only), Ripple Data API (Total Supply only)”

XRP Coin Trading

It is usually not possible to purchase alternative cryptocurrencies such as XRP directly using US dollars. Investors seeking to acquire XRP should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase XRP using one of the aforementioned exchanges.

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