CryptoSensei (@Crypt0Senseii), a well-known figure in the cryptocurrency community, recently posted a tweet describing an in-depth guide to XRP. The tweet states: “The only $XRP guide you will ever need! Make sure to bookmark.” The post includes an informational image detailing XRP’s fundamentals, history, and utility. XRP’s Background and Development The guide provides a timeline of XRP’s development, beginning in 2004 when Ripple’s Ryan Fugger conceptualized the idea of a decentralized digital payment system. Jed McCaleb , David Schwartz, and Arthur Britto created the XRP Ledger (XRPL) in 2012. This marked the beginning of what is now known as Ripple Labs. XRP distribution began in 2013, with a total supply of 100 billion tokens pre-mined. The guide also highlights key events, such as XRP’s all-time high of $3.84 in 2017 and the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple in 2020. The legal battle led to significant price fluctuations. By 2023, Ripple secured a partial legal victory , with a court ruling that XRP was not a security in secondary market sales. The guide concludes with a 2024 update on XRP’s expanding utility in cross-border payments, central bank digital currencies (CBDCs), and enterprise adoption. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 How to Acquire and Store XRP The guide provides a brief overview of how to obtain XRP. It advises users to secure a wallet, purchase XRP on a cryptocurrency exchange, and finally store it in their wallet rather than keeping it on exchanges. This approach aligns with general best practices in cryptocurrency security, ensuring users maintain full control over their holdings. XRP’s Purpose and Functionality According to the guide, XRP aims to solve the problem of slow and costly international money transfers, which rely heavily on traditional banking systems. The guide states that XRP enables “near-instant, low-cost global transactions without intermediaries” and is used by financial institutions to improve liquidity efficiency. The XRP Ledger is a decentralized and open-source blockchain, designed to facilitate fast transactions at minimal cost. The guide highlights XRP’s quick settlement times of three to five seconds, its low transaction fees, and its adoption by over 300 banks and financial institutions. It also notes that, unlike Bitcoin, XRP is not mined, making it more energy-efficient. Key Features and Utility XRP is described as having a fixed supply of 100 billion tokens , with a small portion burned in each transaction, reducing the total supply over time. The guide emphasizes its use in cross-border payments, institutional finance, and decentralized applications built on the XRP Ledger. Additionally, it mentions that some investors view XRP as a hedge against traditional financial systems. Security and Adoption The guide affirms that XRP is a secure digital asset, as the XRP Ledger is decentralized and highly scalable. Its expanding adoption among financial institutions and enterprises further strengthens its position in the digital payments space. CryptoSensei’s post presents a structured and comprehensive overview of XRP, summarizing its history, functionality, and potential use cases. The guide is useful for those interested in understanding XRP’s role in the evolving cryptocurrency ecosystem. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post XRP 101: The Only XRP Guide You Will Ever Need appeared first on Times Tabloid .
