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The Ripple (XRP) project has been around longer than Bitcoin. In 2004, the first precursor to the Ripple protocol, “Ripplepay”, was developed. The Ripple network as we know it today and its cryptocurrency XRP were not introduced until 2012, i.e. after Bitcoin. In contrast to Bitcoin, XRP is not a decentralised cryptocurrency and is supported by more and more traditional financial service providers.
XRP is issued by the company Ripple, instead of being produced by a mining process. This is why Ripple uses less computing and processing power, while allowing higher transaction speeds but is not really decentralised. Ripple’s goal with XRP is not to become an independent alternative to traditional currencies, but rather a global processing network in close cooperation with banks and payments service providers. In the long term, Ripple aims to enable the simultaneous and fastest possible processing of numerous transactions worldwide.
As the largest and most user-friendly trading platform for digital assets in Europe, Bitpanda offers an easy and secure way to start investing to both new and experienced users who want to buy XRP. The XRP wallet service innovative chart solutions for tracking XRP price development allow a quick introduction to trading XRP/EUR on Bitpanda Pro.
Depending on future liquidity from newly formed partnerships in the Ripple network, the general expectation is that Ripple will continue to grow, not least due to the relatively stable XRP share price and sustained high market capitalisation. In addition to its portfolio, XRP is an interesting alternative to traditional cryptocurrencies such as Bitcoin and Ethereum.
Unlike Bitcoin, which is run by a decentralised peer-to-peer network and controlled by no single entity, the cryptocurrency XRP was created and is run by a single company. While Bitcoin and other cryptocurrencies are positioning themselves as independent alternatives to traditional currencies, the goal of Ripple is pretty much the exact opposite: Ripple wants to act as a global settlement network and hence, works closely together with banks and financial institutions. The goal of XRP is to act as a flexible middle-man currency to allow the exchange of any unit of value, from fiat currencies such as the US dollar or euro, and cryptocurrencies like Bitcoin to commodities or frequent flier miles.
You can see the current XRP price on Bitpanda and buy XRP there
Ripple’s Open-Source Protocol is already used by banks and other institutions
The cryptocurrency XRP is issued and developed by the company Ripple
No mining process to mint new units of XRP
Pre-mined amount of 100 billion units of XRP
Easy and convenient trading platform for new and experienced users
Secure, safe and free wallet service included
Fast and reliable, available 24 hours a day, 7 days a week
Over 30 digital assets, including Bitcoin, Ethereum, Ripple and more
European company, founded in 2014 in Vienna, Austria
Multiple fiat currencies, including euro, Swiss franc, British pound and US dollar