XRP (CURRENCY:XRP) traded down 2.9% against the U.S. dollar during the 24-hour period ending at 0:00 AM E.T. on May 4th. One XRP coin can currently be bought for $1.42 or 0.00002591 BTC on exchanges. XRP has a market cap of $64.60 billion and approximately $12.07 billion worth of XRP was traded on exchanges in the last 24 hours. Over the last seven days, XRP has traded up 1.7% against the U.S. dollar.
Here is how similar cryptocurrencies have performed over the last 24 hours:
- Tether (USDT) traded up 0% against the dollar and now trades at $1.00 or 0.00001821 BTC.
- Polkadot (DOT) traded 0.7% higher against the dollar and now trades at $36.02 or 0.00065600 BTC.
- Filecoin (FIL) traded 4.4% lower against the dollar and now trades at $146.98 or 0.00267686 BTC.
- Klaytn (KLAY) traded 0.4% higher against the dollar and now trades at $2.33 or 0.00004237 BTC.
- Wrapped BNB (WBNB) traded down 2.7% against the dollar and now trades at $634.15 or 0.01154963 BTC.
- THORChain (RUNE) traded up 2.7% against the dollar and now trades at $17.79 or 0.00032403 BTC.
- Kusama (KSM) traded 1.7% lower against the dollar and now trades at $397.49 or 0.00723942 BTC.
- Bitcoin BEP2 (BTCB) traded down 1.2% against the dollar and now trades at $55,017.02 or 1.00201111 BTC.
- KnoxFS (old) (KFX) traded up 4.3% against the dollar and now trades at $19.25 or 0.00049793 BTC.
- Fei Protocol (FEI) traded 0.1% higher against the dollar and now trades at $0.98 or 0.00001777 BTC.
According to CryptoCompare, “The Ledger and ConsensusThe Ripple protocol is, at its core, a shared public database. This database includes a ledger, which serves to track accounts and the balances associated with them. The ledger is a distributed database — a perfect, shared record of accounts, balances, and transactions in the Ripple protocol. It is continually and automatically updated by the Ripple Transaction Protocol (RTXP) so that an identical ledger exists on thousands of servers around the world. At any time, anybody can review the ledger and see a record of all activity on the Ripple protocol. When changes are made to the ledger, computers connected to the Ripple protocol will mutually agree to the changes via a process called consensus. The Ripple protocol reaches consensus globally within seconds of a change being made. The consensus finding process is the engineering breakthrough that allows for fast, secure, and decentralized transaction settlement on the Ripple protocol. The World’s First Distributed ExchangeNo one owns or controls the Ripple protocol. It runs on computers around the world, all working together to continually maintain a perfect, shared record of accounts, balances, and transactions. Distributed networks offer many efficiencies over centralized networks. Because the network is “self-clearing”, it eliminates the need for a centralized network operator (and gets rid of the associated layer of fees). Because there is no single point of failure, distributed networks are more reliable. They also tend to be more secure, due to their open source nature. “
Buying and Selling XRP
It is usually not possible to buy alternative cryptocurrencies such as XRP directly using U.S. dollars. Investors seeking to trade XRP should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy XRP using one of the aforementioned exchanges.
Receive News & Updates for XRP Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for XRP and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.