Name : Ripple (XRP)
XRP Price : $2.234 -4.28%
Consensus Mechanism : XRP Ledger Consensus Protocol
Volume: 29,151,667,539
Market Cap: 127,926,288,381
Shariah Judgement
As of now, the projects provided by Ripple appear to be in accordance with Shariah principles.
Shariah Status : Yes
Last Screening: Q3 2023
Legitimacy:
Project:
Token:
Reward:
Shariah Status:
Yes
Risk Analysis
Shariah
Legitimacy
People
In-Depth Analysis
Shariah Analysis
| Project/Products | Use Case | Status |
|---|---|---|
| Public Blockchain | XRP Ledger is a decentralized and public blockchain that requires approval from at least 80% of the network for any changes impacting transaction processing or consensus. | Passed |
| Efficient Transaction Processing | XRP Ledger's consensus process does not require multiple confirmations for immutability, making it faster and more efficient at processing transactions compared to Bitcoin and other major cryptocurrencies. | Passed |
| Support for Tokenizing Arbitrary Assets | XRP Ledger was specifically designed to support the tokenization of arbitrary assets, providing a versatile platform for creating and managing digital tokens. | Passed |
| Development of a Layered Ecosystem | XRP Ledger fosters a deep and layered ecosystem of software projects that power and enable an "Internet of Value," facilitating seamless value exchange and transactions on the blockchain. | Passed |
| Use Case | Status |
|---|---|
| XRP was created as the native asset of the XRP Ledger to enable faster, greener, and cheaper digital payments compared to traditional methods. | Passed |
| XRP acts as a bridge currency in the decentralized exchange of the XRP Ledger, facilitating the exchange between different currencies when it benefits the users. | Passed |
| All XRP Ledger addresses must hold a minimum amount of XRP as a reserve, which helps offset the costs of maintaining the XRP Ledger. | Passed |
| XRP is used to pay for transaction fees within the network. | Passed |
Additional Information : In summary, XRP token is utilized for fast and cost-effective digital payments, serving as a bridge currency and protecting the network from spam. It also plays a crucial role in maintaining the XRP Ledger through minimum reserves and transaction fees while continually exploring innovative use cases.
| System | Status | Interpretation |
|---|
Additional Information : XRP does not have a traditional reward system or direct economic incentives, as its coin supply is regulated through a smart contract without the need for mining or staking. Validators in the XRP Ledger are not provided with direct incentives
Legitimacy Analysis
| Details | Status | |
|---|---|---|
| Whitepaper | Ripple's legitimacy is reinforced by its well-documented whitepaper, presenting clear information about its projects and achievable goals. | Passed |
| Project | Ripple (XRP) demonstrates legitimacy by actively engaging its community through regular updates on social media. By keeping stakeholders informed about ongoing projects and developments, Ripple showcases transparency and accountability in its operations. | Passed |
Additional Information : Ripple is currently listed as digital assets up for trading on Recognized Market Operators approved by the Securities Commission of Malaysia to operate a Digital Asset Exchange.
People Analysis
| Details | Status | |
|---|---|---|
| Team | Ripple's legitimacy is bolstered by its team's detailed qualifications and reliability in project organization. With comprehensive information about the team members and their expertise, Ripple demonstrates a commitment to transparency and accountability. | Passed |
Trading Signals
Moving Average (Short Term)
Weak
Moving Average (Mid Term)
Strong
Moving Average (Long Term)
Strong
Exponential Moving Average (Short Term)
Strong
Exponential Moving Average (Mid Term)
Strong
Exponential Moving Average (Long Term)
Strong
Bollinger Band
Weak
Williams %R
Neutral
Relative Vigor Index
Strong
Money Flow Index
Neutral
Chaikin Oscillator
Weak
Aroon
Strong
Klinger Oscillator
Weak
Chande Kroll Stop
Weak
Moving Average Convergence/ Divergence
Weak
Relative Strength Index
Weak
Stochastic
Weak
Parabolic SAR
Strong
Average Directional Index
Weak
Ichimoku Cloud
Neutral
Average True Range
Strong
Commodity Channel Index
Weak
On-Balance Volume
Strong
Volume Weighted Average Price
Neutral
Keltner Channel
Neutral
Dochian Channel
Neutral
Choppiness Index
Neutral
Ergodic Oscillator
Strong
Ease of Movement
Weak
Ultimate Oscillator
Neutral
Elder Force Index
Weak
Connors RSI
Neutral
Rate of Change
Weak
Chande Momentum Oscillator
Neutral
Triple Exponential Average
Weak
Know Sure Thing
Weak
Detrended Price Oscillator
Strong
Moving Average Envelope
Strong
Coppock Curve
Weak
Vortex Indicator
Weak
Schaff Trend Cycle
Weak
Elder Impulse System
Weak
Pivot Points
Support 2
1.8209
Support 1
2.0489
Pivot Point
2.1975
Resistance 1
2.4255
Resistance 2
2.5741
Support & Resistances
Support 2
1.7967
Support 1
1.9441
Last Price
2.2769
Resistance 1
2.7138
Overview
XRP is a decentralized and public blockchain that revolutionizes digital payments with faster, greener, and cheaper transactions compared to traditional assets. Utilizing an energy-efficient "consensus" mechanism and carbon offsets, XRP aims to be carbon-neutral. Its flexibility enables tokenization of various assets, while the consensus process's efficiency, devoid of mining or multiple confirmations, makes it faster and more effective than major cryptocurrencies like Bitcoin. Providing an eco-friendly and versatile platform, XRP fosters efficient payments, asset tokenization, and innovative applications.
Whitepaper & Documents
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