XRP price today

The Ripple price (XRP) is one of the most searched prices in Iran's crypto market. It is a cryptocurrency designed from the start to move money quickly and cheaply between financial institutions, and for years it was caught up in one of the most important legal cases in the crypto world. On this page you can see the live XRP to Tether price and its candlestick chart, and further down you will learn about the difference between Ripple and XRP, how the network works, its supply, the factors that affect its price, and the vital point of the "destination tag" when transferring.

Ripple or XRP: the difference between the two names

In everyday language Iranians call this cryptocurrency "Ripple", but it is more accurate to separate the two:

• XRP: The native digital currency of the "XRP Ledger" (XRP Ledger or XRPL), a public, open-source blockchain.
• Ripple: The name of an American company that builds international payment products for banks and financial institutions and has held a large share of XRP.

The XRP Ledger was launched in 2012. David Schwartz, Jed McCaleb and Arthur Britto were its main designers, and the company that was later named Ripple was formed with the involvement of Chris Larsen. Jed McCaleb, who had already been active in the crypto industry, left the company a few years later.

How does the XRP Ledger work?

XRP is not mined. Instead of proof of work or proof of stake, the network uses its own "consensus protocol": a set of validator servers agree on the order and validity of transactions, and each user or institution chooses its own list of trusted validators. The result of this design is transaction confirmation in a few seconds and very low energy consumption.

The fee for each transaction on the XRP Ledger is tiny, and it is not paid to anyone but burned; its purpose is to prevent spam and heavy attacks on the network. The XRP Ledger also has a built-in decentralized exchange and allows the issuance of tokens and stablecoins. The smallest unit of XRP is called a "drop", and each XRP equals one million drops.

XRP supply and the role of Ripple the company

All XRP, i.e. 100 billion units, was created when the network launched, and no new XRP is produced; the small amount burned as fees reduces the total supply very slowly. A large share of XRP was given to Ripple. In 2017 the company locked a large amount of its XRP in "escrow" contracts on the ledger, part of which is released each month, with the unused portion locked up again.

Critics see Ripple's large share of the supply and its periodic sales as a weakness in XRP's decentralization; supporters, on the other hand, point to the transparency of the escrow contracts and their public record on the ledger.

The Ripple case and the US SEC

In December 2020 the US Securities and Exchange Commission (SEC) sued Ripple and two of its executives, claiming that the sale of XRP had been an unregistered securities offering. After the lawsuit, several American exchanges halted XRP trading and its price fell sharply. In July 2023 the court ruled an important part of the case in Ripple's favor, stating that sales of XRP on exchanges to ordinary users were not in themselves securities offerings, although it found direct sales to institutions to be subject to the law. This case is a clear example of how much legal news can move the price of a cryptocurrency.

What factors change the price of XRP?

1. Legal and regulatory news

Because of the history of the SEC case, XRP is especially sensitive to the decisions of US regulators and the US government's overall policy on cryptocurrencies.

2. Partnerships and adoption in the payments industry

Announcements of Ripple's partnerships with banks and payment companies usually attract the market's attention. However, a partnership with Ripple does not always mean direct use of XRP, and this distinction matters when reading the news. Competition is not lacking either: stablecoins on low-cost networks such as Tron and Solana are also used to move money quickly between countries, and this competition is part of the debate about the future use of XRP.

3. Overall market trend

Like other altcoins such as Cardano , XRP is affected by the direction of Bitcoin and global liquidity. Follow US macroeconomic data and interest rate decisions in the economic calendar and on the interest rates page.

4. Escrow releases and company sales

The monthly escrow release is a known schedule in advance, but Ripple's sales reports and its share of the circulating supply are part of the long-term analysis of participants in this market.

Transferring XRP: don't forget the destination tag

The most important point when transferring XRP is the "destination tag" (Destination Tag). Exchanges usually have one shared XRP address for all users and identify each user's deposit by a unique number called a tag. If you don't enter the tag, or enter it incorrectly, when sending XRP to an exchange, the funds reach the exchange's address but are not credited to your account, and tracing them may take a long time or may not be possible at all.

• XRP Ledger addresses start with the letter "r".
• Every account on the XRP Ledger must hold a "minimum reserve balance" (Reserve) to stay active, which cannot be withdrawn; its amount has changed in the past and should be checked before creating a new wallet.
• Some exchanges also offer token versions of XRP on other networks; the source and destination networks must be exactly the same.

Security and access for Iranian users

On Iranian exchanges, XRP is usually traded against the Toman and Tether , and its Toman price is roughly the dollar price of XRP multiplied by the Toman rate of Tether. Because of sanctions rules, foreign exchanges usually restrict or block the accounts of users identified as residing in Iran, and funds may be inaccessible for a while. Domestic exchanges also differ in XRP withdrawal fees, liquidity and security; see the crypto exchange comparison on Teagle.

Don't trust messages announcing an "XRP airdrop" or "doubling the XRP you send"; messages like these have been circulating for years using the name of Ripple and its executives. Follow warnings about high-risk platforms in risk warnings and the prices of other cryptocurrencies in the crypto section .

The information on this page is for information only and is not a recommendation to buy or sell. Prices are obtained from the stated sources and may differ slightly from the rate at the exchange you use.