XRP Price

Ripple is an open source and decentralized platform that allows for the seamless transfer of money in any form via distributed ledger technology (DLT). The network was created by three engineers: Arthur Britto, Jed McCaleb, and David Schwartz in 2012.

Ripple’s main process is a payment settlement asset exchange and remittance system, similar to the Society for Worldwide Interbank Financial Telecommunications (SWIFT), which is used by banks and financial middlemen to facilitate payments and settlements globally.

Ripple is the name of the company and the network, while XRP is the native cryptocurrency of the Ripple ecosystem.

XRP price trends over time

XRP started selling in August 2013 at $0.01 and did not experience much volatility throughout the year, it finished the year at $0.03. The cryptocurrency did not gather much momentum in 2014 and finished the year at $0.02. The Year 2015 was not quite eventful for XRP, as it hovered around $0.02 and ended the year selling at $0.01. The coin maintained almost the same price throughout 2016, ending the same way it ended in 2015, at $0.01.

XRP witnessed some bullish momentum in 2017, as its network, Ripple, onboarded multiple financial institutions into its blockchain platform. The XRP token crossed the $2 price area for the first time in 2017 and ended the year at around $2.28, 

Th price of XRP dipped a bit in 2018, starting the year at $1.14, it decrease continued throughout the year, before closing at $0.36. The covid-19 pandemic affected not only major economies and industries but also the value of virtual currencies. XRP opened 2020 at $0.24 and ended the year at $0.21.

The 2021 massive bull run affected the price of XRP positively, as the token, in April 2021, traded at around $1.4 and experienced negative volatility throughout the year before closing at $0.84.

The 2022 war in Ukraine and its effect on the global economy has also taken its toll on XRP. Coupled with Ripple’s lingering lawsuit with the U.S. SEC, as per the latest XRP news, the coin remained under pressure. The price of XRP is currently selling at $0.373592.