XRP refers to the native token of Ripple, that operates on a decentralised digital ledger known as the XRP Ledger. XRP is used primarily to facilitate fast and low-cost international money transfers. XRP enters circulation whenever Ripple chooses to sell coins from its pre-mined keep on the secondary market, in contrast to bitcoin and other mined cryptocurrencies, where fresh coins enter the market in the form of block rewards.
At the time of writing, the XRP Price was $0.5989 with a market cap of $33,524,103,614.
What Is XRP CAD?
The trading pair between XRP (Ripple) and CAD (Canadian Dollar) is denoted as XRP/CAD. In this case, CAD is Canada’s official currency, and XRP is a cryptocurrency used for online payments and transfers.
The symbol XRP/CAD indicates the value of one unit of XRP in Canadian dollars. On cryptocurrency exchanges, this trading pair is frequently utilized to make it easier to purchase and sell XRP using CAD.
Importance Of XRP CAD
The XRP/CAD trading pair is important because:
- Liquidity: It provides a direct way for Canadians to buy or sell XRP using their local currency.
- Market Insight: It helps gauge XRP’s performance in the Canadian market.
- Risk Management: It allows Canadian investors to manage currency risk related to XRP.
- Economic Factors: It reflects how Canadian economic conditions impact XRP’s value.
- Local Adoption: It shows the level of cryptocurrency interest and regulation in Canada.
XRP CAD Conversion
With a decrease of 1.3% from an hour ago and an 8.5% fall from yesterday, XRP price CAD (XRP) is currently worth CA$0.82558. XRP is currently worth 2.2% less than it was seven days ago. The entire amount of XRP that was moved on the previous day was CA$2,924,771,956.
7-Day XRP CAD History
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Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
