XRP Price Today

The current real-time XRP price is $0.54 . XRP price has grew by 0.68% in the last day and increased by 22.64% in the last seven days. It’s important to note that the current XRP market capitalization is $29,929,620,280. The maximum supply is 100,000,000,000.00 XRP coins, with a circulating supply of 55,805,339,473.00. XRP is ranked #7 in terms of market cap.

XRP In A Nutshell

XRP is a transactional cryptocurrency that offers users low fees, speedy settlement times, and excellent scalability. The project was developed between 2011 and 2012 by David Schwartz, Jed McCaleb, and Arthur Britto.

XRP is a popular investment due to its intrinsic value and extreme volatility. Outside of its use as an investment, It facilitates efficient transactions on a blockchain.

The founders of XRP have formed partnerships, including with high-profile businesses like MoneyGram, Western Union, JP Morgan, and the Royal Bank of Scotland. 

How XRP Works Explained

To understand how XRP works, you need to understand its function within the XRP Ledger (XRPL). The XRP token is used to power all transactions on the network, and a small amount of XRP is required to broadcast any transaction. Due to its low transactional costs, consistent uptime, and scalability, XRP some investors expect it to be used for cross-border payments.

To achieve its efficiency, the XRP team developed a new and unique consensus mechanism for validating transactions on the network. The Ripple Protocol Consensus Algorithm (RPCA) utilizes subnetworks for communications instead of requiring all participants to communicate simultaneously, improving efficiency compared to Proof of Work (PoW) networks.

On average, the amount of time an XRP transaction takes to confirm is 3 to 5 seconds, making it far faster than PoW networks like Bitcoin and even Proof-of-Stake (PoS) cryptocurrencies like Ethereum. Additionally, transactions on the XRPL are very cheap, costing around 0.00001 XRP or a fraction of a cent. 

XRP In Circulation

When XRP first launched, the maximum supply was 100 billion tokens. However, the co-founders gave Ripple Labs 80 billion to develop the XRPL and create use cases for the token. Currently, there are around 55,805,339,473.00 XRP tokens in circulation. 

Historical Prices of XRP 

When XRP first launched, it struggled to build momentum and find a place in the cryptocurrency market. There were fewer investors, and the majority of people interested in cryptocurrency were buying Bitcoin, not then-unknown projects like XRP. From 2013 to 2016, XRP hovered around $0.005, but the team continually built new partnerships. 

In 2017, XRP exploded in value due to a market-wide bull run that caused many assets to go parabolic. Despite starting the year at around half a cent, XRP finished 2017 45,650% higher, at a value of $2.199, causing many early investors to sell XRP. 

Moving ahead, 2018 was even more varied for XRP. First, the asset reached a new all-time high (ATH), hitting $3.3008. However, its momentum was short-lived, with XRP falling significantly following its ATH, staying between $0.14 and $0.56 until 2021. 

Despite a large bull run, XRP was unable to make a new ATH in 2021. That said, the asset still hit $1.7942, which represents substantial growth. However, it slowly fell and plateaued around $0.60. 

XRP has struggled to find its footing in 2024 and has hovered roughly between  $0.39 and $0.68 for the majority of the year, except for a few short-lived surges to around $0.75. However, the conclusion of the SEC Ripple lawsuit is expected by July 25th, which could lead to massive volatility for the asset. 

XRP and Ripple Labs

Many people need clarification regarding the connection between XRP and Ripple Labs. David Schwartz, Jed McCaleb, and Arthur Britto created XRP, with the token launching in 2012. Later, Chris Larsen joined the project and co-founded Ripple Labs. The founders of the cryptocurrency gifted 80 billion XRP to Ripple Labs so they could develop the XRP ledger and use cases for the project. 

Where Can I Buy XRP?

XRP was subject to regulatory action from the SEC, which resulted in the asset being delisted on notable US-based exchanges like Coinbase. However, XRP has settled its lawsuit and is widely available again. You can buy XRP from most spot exchanges, including Bybit, Binance, and Crypto.com.