Ripple Price - XRP/AUD : $0.91115

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Order book XRP / AUD

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XRP: AUD 0.90929
Aud
Aud
Xrp
Xrp
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XRP: AUD 0.90751
Xrp
Xrp
Aud
Aud
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What is XRP (Ripple)?

XRP is a cryptocurrency and the native digital asset of the XRP Ledger. It is widely known as a token of exchange used for international transfers. Unlike most cryptocurrencies, XRP currency is pre-mined. Upon launch, 100 billion XRP tokens were initially created and distributed to the public periodically. Ripple Labs owns a large portion of XRP tokens, which gives the company a controlling interest in the network. This is done to nurture the project’s growth and ensure that the cryptocurrency is successful over time. The remaining tokens are held in reserve and released regularly into the market through sales.

XRP or Ripple?

XRP is often referred to as Ripple. The connection between the two makes it easy for people to mistake using them interchangeably. However, XRP and Ripple are entirely separate. To put it simply, XRP is a decentralised cryptocurrency, whereas Ripple is a for-profit company that develops software for fast global financial settlements. Ripple utilises XRP and XRP Ledger to facilitate fast and cost-efficient cross-border payments.

Ripple doesn’t own XRP or XRPL. The company is merely a contributor to the network, with the same rights as other contributors. XRP and XRPL are developed and maintained by an independent entity called the XRP Ledger Foundation.

Frequently asked questions

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How we treat client assets

No commingling of customer funds: we keep client assets completely separate from our own.

1:1 reserves

We maintain a full 1:1 reserve of all client fiat and crypto assets.

We hold the vast majority of crypto assets in secure offline cold storage, protected in underground vaults with maximum security.

Audited

Our books are balanced and we carry no debt on our balance sheet. We engage external auditors to undertake an annual audit of our financial statements in accordance with Australian Accounting Standards. This includes verification of all fiat and crypto balances held in custody on behalf of clients.

Segregated funds

We do not commingle customer funds. We maintain complete segregation of all client assets to ensure that when you need to make a withdrawal you can.

We keep your assets safe. That is our promise.

Sole custodian

Independent Reserve is a sole custodian of all crypto assets held on our platform. Custody is managed in Australia and we do not use any third party custodians.

We adhere to industry best practices and never lend, trade or reinvest your assets.