Ripple Project Overview

XRP is a native on-chain cryptocurrency launched by Ripple Labs in 2012, running on the open-source XRP Ledger blockchain platform. It adopts the Ripple Consensus Algorithm, and the network composed of independent validators reaches consensus within 3 to 5 seconds, significantly improving transaction confirmation speed. This mechanism enables XRPL to provide faster and lower-cost cross-border payment solutions for banks and financial institutions, optimizing the efficiency of global fund transfers.

XRP once saw a strong surge on January 1, 2018, with the price soaring nearly 56% within a trading day. Its market value temporarily surpassed that of Ethereum, jumping to become the world’s second largest cryptocurrency by market capitalization, reflecting the market’s high recognition of XRP’s potential in cross-border payments and financial settlement.

In addition, XRP was fully pre-mined at the time of release, with a total fixed supply of 100 billion. Ripple Labs regularly sells its XRP holdings to enhance market liquidity, aiming to build a decentralized Internet financial trading system that covers all currency types.

XRP Token symbol (Image source: https://www.fxempire.com/forecasts/article)

Related Links:

• Official website entrance:https://ripple.com/
• White Paper:https://xrpl.org/docs
• Github:https://github.com/XRPLF/
• X (Twitter):https://x.com/Ripple
• Telegram:https://t.me/Ripple
• Xrpscan:https://xrpscan.com/
• Trading Entrance:https://www.gate.io/en/trade/XRP_USDT

Ripple core team

Brad Garlinghouse

Ripple CEO, also a board member. Prior to joining Ripple, he served as CEO of the file collaboration service Hightail, President of AOL Consumer Applications, and held multiple executive positions at Yahoo.

David Schwartz

Currently the Chief Technology Officer at Ripple, one of the original architects of the XRP Ledger, often referred to as ‘JoelKatz’ and highly respected in the cryptocurrency community. Previously, he was the Chief Technology Officer at WebMaster Incorporated, a software developer in Santa Clara, and also developed encrypted cloud storage and enterprise messaging systems for organizations such as CNN and the National Security Agency (NSA).

Monica Long

The current president of Ripple, joined Ripple in 2013, formerly served as general manager, senior vice president of marketing and design, and was one of the company’s earliest marketing and communication leaders. She is currently mainly responsible for Ripple Payments and RippleX. She has deep experience in the field of financial technology, was named one of the most influential business women in the San Francisco Bay Area in 2020, and holds a bachelor’s degree from the University of California, Berkeley.

How does XRP empower enterprises?

Compared to traditional cross-border payment processes, the Ripple network greatly reduces settlement time, improves fund turnover efficiency, and is extremely suitable for providing efficient payment solutions for small businesses, enabling them to receive customer remittances within seconds, regardless of the payer’s location worldwide.

Traditional credit card payment fees are relatively high, with large enterprises often enjoying more favorable rates, while small businesses struggle to receive the same treatment. As Ripple’s low-cost payment solutions gain traction, credit card companies may face pressure to reduce transaction fees, further lowering payment costs for small and medium-sized enterprises. Additionally, Ripple’s transaction fees are extremely low, and funds from consumer credit card payments can be settled into a business bank account in approximately three days. This significantly enhances fund availability, which is especially crucial for small businesses that rely heavily on efficient cash flow.

For small businesses with a high proportion of overseas operations, the Ripple solution is particularly attractive. Through the Ripple network, businesses can complete international payments within 5 days, with an average fee of only 7%, much lower than traditional cross-border payment methods. In addition, Ripple transactions are confirmed in just 3 to 5 seconds, with extremely low foreign exchange costs, and even zero-cost exchanges, further reducing the payment costs for businesses.

XRP’s core function is to serve as a bridge currency for cross-border payments (Image source:https://www.panewslab.com/en/articledetails/r72ohce2.html)

$XRP related news

On March 2nd local time, former U.S. President Donald Trump announced on his social platform Truth Social that he plans to include five digital assets including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) in the new U.S. cryptocurrency strategic reserves. Upon the release of this news, the market quickly reacted, driving up the prices of related crypto assets.

Affected by the positive news, the prices of cryptocurrencies mentioned by Trump collectively rose, with the total market value of the overall crypto market soaring by about 10%, adding more than $300 billion in market value, and XRP’s daily increase reached 34%. In recent years, Ripple has deeply laid out in areas such as cross-border payments and central bank digital currency cooperation. The market generally believes that XRP may play an important role in the future U.S. government’s encrypted asset strategy.

According to a previous report by Reuters, Trump signed an executive order in January this year aimed at establishing a comprehensive framework for digital asset regulation and exploring the possibility of creating a national-level cryptocurrency reserve, which once sparked market speculation about whether digital assets such as XRP would be selected.

US President Trump confirms XRP as a strategic reserve for encryption (Image source:Truth Details | Truth Social）

$XRP Market Performance

Over the past week, due to the downturn in the cryptocurrency market, the price of XRP has shown an overall trend of oscillating decline, with a cumulative decline of over 19%.

On March 3, the price of XRP once reached a high point of $2.70, and then quickly retraced, falling below $2.40 in a short period of time; on March 8, the price was under pressure again, dropping below $2.30, and touched around $2.10 on March 9, with market sentiment leaning towards caution.

As of March 9 (UTC+0) when this article was written, the latest price of XRP is $2.17, with a total market capitalization of $217.55 billion and 6.259 million holding addresses. If there are no further positive news in the market, XRP may continue to maintain a low-level volatility in the short term. If it can stabilize above the support level of $2.10, there may be a certain rebound; otherwise, it may test lower support levels.

During 03/03 - 03/09, the trend of XRP (Chart Source:https://coinmarketcap.com/dexscan/bsc）

Conclusion

As one of the world’s leading digital payment assets, XRP has shown strong growth potential in cross-border payments, financial settlements, and CBDC (Central Bank Digital Currency) cooperation in recent years. Despite recent market pressure, XRP still has unique technical advantages and practical application scenarios. In the future, the attention from the Trump administration to XRP may further boost market sentiment, with long-term prospects to play a greater role in the financial technology and blockchain payment fields. Investors need to closely monitor market dynamics, combine on-chain data and policy trends, and make more rational investment decisions.