All Ripple coins had been mined at the time of launch and they are owned by their parent company Ripple Labs. The company is now looking to collaborate with more companies from the finance and banking industry as it looks to sell some of its $30 billion worth XRP coins.
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Ripple’s CEO, Brad Garlinghouse, said that Bitcoin will not be able to keep controlling the prices of cryptocurrencies. The prices of virtual currencies tend to follow Bitcoin’s trend. It is difficult to see Bitcoin falling or skyrocketing and other currency behaving independently from it.
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Ripple has unveiled the latest xRapid pilot results that show incredible results for financial institutions. The companies that used the services developed by Ripple were able to save between 40-70% and payments took between 2 to 3 minutes (compared to 2 to 3 days before).
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