Introduction
XRP is a digital asset designed for fast, low-cost transactions, making it ideal for remittances, payment settlements, and exchanges. Unlike Bitcoin, which functions as a decentralized currency, XRP focuses on facilitating seamless cross-border payments with near-instant confirmation times.
Who Owns the XRP Ledger?
The XRP Ledger (XRPL) was developed in 2011–2012 by Jed McCaleb, Arthur Britto, and David Schwartz. In 2012, McCaleb and Britto—along with Chris Larsen—founded Ripple Labs (originally OpenCoin Inc.), donating 80 billion XRP to the company to support the ledger’s development.
Key Facts About the XRP Ledger:
- Decentralized & Public: The XRPL is not privately owned; it operates as an open blockchain.
- Governance: Changes require approval from 80% of the network.
- Ripple’s Role: While Ripple contributes to the ecosystem, it holds no exclusive control.
Who Created the XRP Ledger?
The XRPL was built by three engineers aiming to improve Bitcoin’s limitations:
- David Schwartz: Ripple’s CTO and a leading blockchain architect.
- Jed McCaleb: Co-founder of Ripple and later Stellar (XLM).
- Arthur Britto: Co-founder of PolySign and key designer of the XRP Ledger.
👉 Discover how XRP compares to other payment cryptocurrencies
Who Is Arthur Britto?
Britto co-founded Ripple and designed the XRP Ledger’s core infrastructure. He now leads PolySign, a blockchain-focused cybersecurity firm.
Who Wrote XRP?
| Detail | Description |
|----------------------|--------------------------------------------------|
| Original Authors | Arthur Britto, David Schwartz, Ryan Fugger |
| Repository | GitHub |
| Primary Use Case | Real-time settlements, forex, remittances |
Who Owns the Majority of XRP?
- Ripple Labs: Holds a significant portion of XRP in escrow.
- Brad Garlinghouse (Ripple CEO): Owns ~6.3% of Ripple’s equity.
- Jed McCaleb: Retained 250 million XRP after leaving Ripple.
XRP Ownership Statistics:
- Retail Investors: 78.7% bought XRP at $0.10–$0.50 per token.
- Institutional Holders: Banks and payment providers use XRP for liquidity.
Current XRP Market Data
How Much Is XRP Worth Today?
As of 2024, XRP trades at $0.40–$0.50, with a circulating supply of 47.74 billion tokens (max supply: 100 billion).
👉 Track real-time XRP price trends
XRP vs. Competitors
Is Stellar (XLM) Better Than XRP?
- XRP: Optimized for institutional/bank transactions.
- XLM: Targets unbanked individuals and micropayments.
- Lawsuit Impact: Ripple’s SEC case may influence XRP’s adoption, potentially benefiting XLM.
Investment Potential
Will XRP Rise in 2024?
Analysts predict XRP could reach $1.50–$2.00 by 2025, driven by:
- Regulatory Clarity: Resolution of Ripple’s legal challenges.
- Adoption: Partnerships with financial institutions.
FAQs
1. Is XRP a good investment in 2024?
Yes, if Ripple secures favorable regulatory outcomes. Its utility in payments adds long-term value.
2. What companies use XRP?
Major partners include Santander, MoneyGram, and SBI Remit.
3. Can XRP replace SWIFT?
XRP offers faster, cheaper transactions but complements rather than replaces SWIFT.
4. How many XRP are left?
52.26 billion XRP remain (out of 100 billion), with Ripple releasing them gradually.
5. What’s the difference between XRP and Bitcoin?
- Speed: XRP confirms in seconds; Bitcoin takes minutes.
- Purpose: XRP is for payments; Bitcoin is a store of value.
Conclusion
XRP’s name reflects its role in Ripple’s payment ecosystem, emphasizing speed and efficiency. With ongoing developments in blockchain finance, XRP remains a pivotal asset for global transactions.