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The XRP (CRYPTO: XRP) cryptocurrency is skyrocketing these days. After trading sideways or down for more than three years, the crypto formerly known as Ripple sprung to life in November.
The Ripple company is technically independent of the XRP cryptocurrency, but that independence is not absolute -- and many investors still use Ripple as a catch-all name for XRP, RippleNet, and ...
An even more fundamental issue is this: XRP doesn't need to be adopted for banks to use RippleNet. Although some specific functions require XRP to be used, the majority of RippleNet's features can ...
The XRP Ledger peer-to-peer overlay network is characterized by a small-world network topology, featuring a tightly clustered structure and short paths between nodes. [12] Information systems expert Mary Lacity notes that this platform "uses much less electricity than Bitcoin—about as much electricity as it costs to run an email server".
RippleNet charges 0.00001 XRP per transaction today, even for very large money transfers. That works out to about 50 millionths of a dollar per transfer, or 5 thousandths of a cent. Each ...
The defendants agreed to turn over all data involving XRP transactions. [30] In July 2023, the district court ruled on the SEC lawsuit, finding that the XRP token sold by Ripple Labs was not a security. However, if sold in institutional sales, or used as a fundraiser, such actions could be classified as a security in those circumstances.
It does not need XRP to function. RippleNet is a blockchain geared toward banking institutions that can be used to settle transactions like remittance payments, in addition to exchanging currencies.
That's why the bulk of XRP's year-to-date gain occurred after the election on Nov. 5. But the token is trading at $2.21 as of this writing, which is still well below its record high of $3.40 from ...