Name : Ripple (XRP)

XRP Price : $0.53800 +2.24%

Consensus Mechanism : XRP Ledger Consensus Protocol

Volume: 1,326,534,991

Market Cap: 30,487,014,258

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

1

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

2

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.

3

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)

Weak

Moving Average (Long Term)

Weak

Exponential Moving Average (Short Term)

Weak

Exponential Moving Average (Mid Term)

Weak

Exponential Moving Average (Long Term)

Weak

Bollinger Band

Weak

Williams %R

Neutral

Relative Vigor Index

Strong

Money Flow Index

Neutral

Chaikin Oscillator

Weak

Aroon

Weak

Klinger Oscillator

Weak

Chande Kroll Stop

Weak

Moving Average Convergence/ Divergence

Weak

Relative Strength Index

Weak

Stochastic

Weakest

Parabolic SAR

Weak

Average Directional Index

Ichimoku Cloud

Neutral

Average True Range

Strong

Commodity Channel Index

Neutral

On-Balance Volume

Strong

Volume Weighted Average Price

Neutral

Keltner Channel

Neutral

Dochian Channel

Neutral

Choppiness Index

Strong

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

Weak

Moving Average Envelope

Strong

Coppock Curve

Weak

Vortex Indicator

Weak

Schaff Trend Cycle

Weak

Elder Impulse System

Weak

Pivot Points

Support 2


0.5115
Support 1


0.52074
Pivot Point


0.53199
Resistance 1


0.54123
Resistance 2


0.55248

Support & Resistances

Support 1


0.52195
Last Price


0.52998
Resistance 1


0.64195

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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