Sentences with phrase «own xrp»

«We want smart people, and smart entrepreneurs, who can solve a problem using XRP,» says Cory Johnson, chief market strategist at Ripple.

Thomas added that Ripple's own digital currency, known as XRP, is less vulnerable to forks or unpredictable changes because, unlike bitcoin, it relies on voting measures that favor users more than miners.

«We want smart people and smart entrepreneurs, who can solve a problem using XRP,» Cory Johnson, chief market strategist at Ripple, told CNBC in an interview Wednesday.

The point of XRP, similar to bitcoin, is that it enables financial institutions to transfer money across the country or around the world quickly and cheaply.

Since Ripple controls 61 % of the world's supply of XRP coins — 61 billion out of 100 billion in total — the gains placed Larsen's personal position in the cryptocurrency as well as his share of the XRP owned by his company at a dizzying total of $ 59.8 billion.

«I don't know what the best use of XRP is going to be, and I hope it's something we can't even think of.»

Even if Ripple quadrupled the amount they invested Wednesday, by Johnson's estimates it would take them 150 years to give away $ 200 million of XRP a year.

Chris Larsen, the cofounder, executive chairman, and former CEO of the cryptocurrency company Ripple, became the world's fifth wealthiest person as the price of Ripple's XRP cryptocurrency soared past the $ 3 mark this week.

XRP's price has rocketed more than 1,400 % since early December.

Larsen's wealth swelled to extravagant proportions when the price of Ripple's XRP token hit an unprecedented high of $ 3.84 per coin Thursday, per data from the industry tracker CoinMarketCap.

The Blockchain Capital contribution was made in XRP, not U.S. dollars.

And even if Larsen could easily convert the vast majority of his XRP coins into a traditional currency, like U.S. dollars, the influx of so many tokens into the market provoked by such a sell - off would no doubt greatly depress the value.

Larsen personally holds 5.19 billion XRP crypto coins as well as a 17 % stake in the company he cofounded, Forbes reported Tuesday, citing sources close to Ripple.

Ripple wants to use its bitcoin - like XRP digital token to revolutionize the cross border money transfer industry, erasing scenes like this one where migrant workers from India change money at a stall in Malaysia.

(Bitcoin is a competitor to XRP.)

Ersek's comments, cited below, come a month after Ripple announced a tie - up with Western Union's rival Moneygram, which is also testing XRP in money transfers.

On Tuesday, Garlinghouse also told a Goldman Sachs technology gathering that Ripple and XRP are a cheaper and faster solution to money transfer than bitcoin or the legacy SWIFT system.

XRP, a digital offering by Ripple that is used for cross-border payments, is fairly difficult to buy, as it's not offered on most major exchanges.

While many banks are using Ripple's blockchain software (known as XCurrent) to keep track of their transfers, only a handful are also using a product (known as XRapid) that integrates XRP.

We're excited about our work towards a pilot implementation of xRapid, which uses XRP in payment flows,» said a Ripple spokesperson.

The adoption by banks of XRP is critical to the growth of Ripple — which has described it as a «strategic weapon «-- and to the value of the currency, which currently has a market cap of about $ 42 billion, and has swung wildly since it shot up to nearly $ 4 in early January (it is now worth around $ 1.07).

While dozens of hedge funds have sprung up this year to invest in the white - hot digital currency market, this one, known as Arrington XRP Capital, is the first to be denominated in a crypto - currency rather than dollars or euros.

The news, which Arrington announced at an investor conference in New York, is significant because investors will buy shares of the fund and receive distributions in XRP.

But the company will benefit from the fund's decision to use XRP, in part because it controls large reserves of the currency (which may get a price boost from Arrington's announcement) and because the move may burnish Ripple's reputation as a money transfer platform.

For other cryptocurrency such as XRP, trading in the Korean won commands a premium to U.S. dollars.

Arrington says he chose to denominate the fund in XRP, which is the third or fourth most valuable crypto - currency, in part because he likes the financial infrastructure that Ripple has build up around it (you can read all about Ripple and XRP here).

The option contract represents nearly 10 % of the approximately 55 billion XRP (out of a total supply of 100 billion) currently controlled by Ripple.

Network participants use a digital coin called XRP for transactions.

TechCrunch founder Mike Arrington also announced at the end of November that he is launching a $ 100 million «cryptofund» that will be denominated in XRP.

The start - up owns 61 percent of the 100 billion XRP in existence.

Ripple's XRP token traded at about $ 0.69 during Asia afternoon trade on Friday.

MoneyGram, based in Dallas, Texas, will use the XRP cryptocurrency to speed up and reduce the cost of transferring money through Ripple's payment network xRapid.

XRP is the name of the coin participants can use for transactions.

MoneyGram, based in Dallas, Texas, will use XRP to speed up and reduce the cost of transferring money through Ripple's payment network xRapid.

Ripple, or XRP, surged 89 percent Thursday to 89 cents, giving it a market value of $ 31.6 billion, according to CoinMarketCap.

Banks are less keen to use the firm's digital currency XRP, but earlier this year two money transfer firms, MoneyGram and Western Union, announced projects involving the cryptocurrency.

XRP was seen surging on the news, and flew almost 15 percent higher to $ 2.22 at 9:55 a.m. ET, according to Coinmarketcap data.

XRP declined significantly after that rally but Ripple said its price has not been reflected accurately, claiming that industry website Coinmarketcap's decision to remove Korean cryptocurrency exchanges from its platform has affected prices.

XRP is the name of the digital token that financial institutions on the network can use to transact quickly.

XRP, which has a market cap above $ 21 billion, is listed on more than 60 exchanges but is not yet available on popular U.S. exchange Coinbase.

It does not currently offer ripple, or XRP.

Ripple's XRP, which is also known as ripple, surged 65 percent to $ 1.64 a coin, according to data from CoinMarketCap.

One hundred billion XRPs were created at Ripple's inception, and no more can ever be created, which is similar to how Bitcoin was created.

However, it did create its own crypto - currency to facilitate transactions, called XRP.

Wall Street can trade XRP with other currencies and provide liquidity across currencies.

The composition of the asset class changes dramatically, with bitcoin comprising less than half of the total market cap as assets including ether, xrp, and dash skyrocket in price.

Starting from the top, Ethereum declined more than 6 % to $ 1,067, Ripple XRP fell 9 % to $ 1.42 and Cardano ADA declined 12 % to 61 cents (all figures according to CoinMarketCap.com).

Ripple believes in supporting the XRP Ledger and Interledger Protocol and will continue to look for opportunities to support entrepreneurs, companies and funds that share this vision.

The lawsuit comes as the value of cryptocurrencies such as XRP and bitcoin continues to rise.

Meanwhile, bitcoin rose 0.9 % to $ 9,415, Ethereum gained 0.8 % to $ 688 and Ripple XRP was up 0.9 % at $ 0.874 (all figures according to CoinMarketCap).