XRP is a cryptocurrency developed by Ripple Labs to facilitate fast and cheap transactions globally. It uses a distributed ledger called XRP Ledger, which does not rely on traditional mining, making transactions fast and energy efficient. XRP is primarily designed to facilitate cross-border payments, offering a scalable and cost-effective solution for banks and financial institutions.
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The price of XRP falls 7 per cent on the eve of the launch of the first US spot ETF managed by Canary Capital, as traders weigh hype, deleveraging and the risk of the classic 'sell the news'.
XRP remained around $2.32 while Ripple announced a partnership with Mastercard, WebBank and Gemini to launch an XRP Ledger-based RLUSD stablecoin payment system for credit cards.
Ripple is rumoured to be planning a $1 billion XRP buyback via a new treasury vehicle. Here is what is known, what is just speculation and what it could mean for the markets.
Ripple is expanding in Europe by targeting the MiCA licence to offer regulated crypto payments and build trust between institutions and customers.
After Trump's inauguration, the US SEC will initiate a reform of the cryptocurrency market.
Whale purchases and ETF advances: what else has affected Ripple Labs' cryptocurrency rate?
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