The sixth-largest cryptocurrency by market value, XRP, is celebrating 11 years of continuous operation. Despite having started development in 2011, the XRP Ledger initially went live in June 2012.
The XRP Ledger (XRPL) was created in 2011 by three developers, David Schwartz, Jed McCaleb, and Arthur Britto. They were so intrigued by Bitcoin that they set out to create a better version that addressed its flaws and produced a digital asset that was more durable and made especially for payments.
Code written by Arthur Britto on June 2, 2012, generated 100 billion XRP coins (then known as “XNS”). That day is recognised as the cryptocurrency’s legal birthday, said David Schwartz, the chief technology officer of Ripple. The XRPL founders gave the business 80 billion XRP as a gift. Since then, Ripple has put the majority in escrow.
However, only December 2012 can be found as the beginning of the XRP Ledger’s history.
At this time, the XRP Ledger has created more over 80 million ledgers, having an index of 80,190,143.
Here’s how price reacted
Over the course of its 11-year history, the price of XRP has fluctuated. During the 2017 bull market, it increased by almost 32,000%, reaching a record high of $3.84 on January 4, 2018.
Shortly after the Ripple-SEC lawsuit was filed in December 2020, the price of XRP plunged precipitously to lows of $0.16.
The XRP price is now rising as anticipation grows for the outcome of the Ripple-SEC litigation. Since May 24, XRP has had seven of nine days in the black.
The price of XRP was $0.515 at the time of writing, up 1.72% over the previous 24 hours and 11% over the previous week.
