Cryptocurrency Q&A
What is XRP backed by?
What is XRP backed by?
Martino
Sun Dec 29 2024
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7 answers
1054
I'm curious about the asset backing XRP. I want to know what gives XRP its value and stability in the cryptocurrency market. Is it backed by any fiat currency, commodity, or other assets? Or is it solely based on market demand and supply?
7 answers
Caterina
Mon Dec 30 2024
To ensure transparency and trustworthiness, audits are conducted regularly.
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FireFlyer
Mon Dec 30 2024
The tokens are supported by an equivalent amount of USD reserves.
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Giulia
Mon Dec 30 2024
These audits are performed by third-party entities.
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CryptoDynastyLord
Mon Dec 30 2024
The backing is done on a 1:1 ratio.
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Michele
Mon Dec 30 2024
They happen every month without fail.
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