XRP explained: What is it and how it works

Published: 23 April 2021
on channel: Luno
17,520
300

XRP is a cryptocurrency that’s been around since 2012, and it certainly seems to have a lot going for it. It’s used by a number of major banks and payment companies, including Standard Chartered, Deloitte and the Royal Bank of Canada.

But it’s not been without controversy. It’s been in trouble with regulators who believe it to be a security – something its creators deny.

Despite all of this, it’s broadly maintained its popularity. We uncover why and chart its most interesting use cases.

0:00 What is XRP?
0:19 XRP news
0:30 XRP Ripple
1:16 How XRP works
1:26 How many XRP are there?

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Cryptocurrency is a high risk investment that's not regulated in the UK. The value of cryptocurrency can fluctuate and you may lose your capital without recourse to financial regulators. Fees apply when you buy or sell cryptocurrency and Capital Gains Tax may be payable on profits when you sell.


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