Bitstamp Helps Differentiate Ripple and XRP with Simple Graphic Outline
During the last year, the XRP community has been working in order to differentiate XRP and Ripple. This differentiation is related to the fact that Ripple wants to avoid XRP being considered security. Before the company take this decision to separate itself from the digital asset XRP, the crypto community used Ripple as a synonym of XRP and vice-versa.
Bitstamp, one of the most popular crypto exchanges in the market has released an infographic related to this issue. Is Ripple the same as XRP?
The first thing that Bitstamp mentions is that Ripple is a technological company that created RippleNet, which is a global network for transferring value used by several companies and firms all over the world. Indeed, Ripple announced that there are 200 different firms working with RippleNet.
The backbone of the RippleNet is the XRP leger with its cryptocurrency. XRP is an asset that can be traded and used to transfer funds all over the world. At the moment, XRP is the second largest digital currency in the market with a price of $0.31 and a market cap of around $13 billion.
There will only be 100 billion XRP issued, never more. Indeed, there will be less due to the fact that a small amount of XRP is burned every time a transaction of XRP is processed by market participants.
Bitstamp wrote about this differentiation:
“Ripple is the company, XRP is the currency. Not everyone in the XRP community is connected to Ripple.”
— Bitstamp (@Bitstamp) January 25, 2019
At the time of writing, BitStamp is the 49th largest digital asset in the market with a trading volume in the last 24 hours of $34.01 billion.
The exchange is also offering a Ripple Gateway in which they offer XRP/USD and XRP/BTC trading pairs. This Ripple gateway has a trading volume of just $50,000 in the last 24 hours.