March 14, 2021 by admin
picture of XRP coin

Digital Asset for 
Global PaymentsXRP offers financial institutions the fastest, most reliable option for sourcing liquidity on demand.

XRP is a digital asset built for any kind of payment. It is the native digital asset on the XRP Ledger—a permissionless, open-source, and decentralized blockchain technology that can settle transactions in 3-5 seconds from anywhere around the world.

XRP can be sent directly without needing a central intermediary, making it a convenient instrument in bridging two different currencies efficiently and quickly.

Faster, less costly, and more scalable than any other digital asset, XRP and the XRP Ledger are used to power innovative technology across the payments space.

Ripple is focused on building technology to help unleash new utility for XRP and transform global payments. Third parties are also pursuing other XRP-related use cases.

Frequently Asked Questions about XRP and Ripple

What is the difference between XRP and Ripple?

XRP is a native digital asset (cryptocurrency ) of the Ripple platform. Ripple is the company behind the XRP (the cryptocurrency) and aims to connect financial institutions, banks, and payment providers to provide a frictionless experience for sending and receiving money globally.

When was the XRP token released?

Ripple released its XRP token in January 2013. Like traditional cryptocurrencies, it is based on a public chain of cryptographic signatures. The company initially set the supply of XRP at 100 billion of which 80 billion tokens were allocated to the company and 20 billion were given to the three founders. On June 13, 2016, Ripple obtained a virtual currency license from the New York State Department of Financial Services, making it the fourth company with a BitLicense.

What is the background of Ripple?

Software developer Ryan Fugger founded the original Ripple project in 2004. The idea behind the project was a peer-to-peer network of financial relations that would replace banks. Based on the premise that money is simply a bank’s promise of value, Ryan aimed to create a monetary system where the promise of an individual held just as much weight. His concept was launched in 2005 as RipplePay, a financial service allowing users to extend credit lines to friends and family and make secure payments in traditional and online currencies.

What is RippleNet?

RippleNet is what Ripple (the company behind XRP) calls the network of financial institutions using its products. There are three core segments: xCurrent for processing payments, xRapid to source liquidity, and xVia to connect to the network and send payments.

200% improvement in the last 12 months.

What Is XRP?

To begin with, it’s important to understand the difference between XRP, Ripple and RippleNet. XRP is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called XRP Ledger. While RippleNet is run by a company called Ripple, the XRP Ledger is open-source and is not based on blockchain, but rather the previously mentioned distributed ledger database.

The RippleNet payment platform is a real-time gross settlement (RTGS) system that aims to enable instant monetary transactions globally. While XRP is the cryptocurrency native to the XRP Ledger, you can actually use any currency to transact on the platform.

While the idea behind the Ripple payment platform was first voiced in 2004 by Ryan Fugger, it wasn’t until Jed McCaleb and Chris Larson took over the project in 2012 that Ripple began to be built (at the time, it was also called OpenCoin).

Benefits of XRP in Payments

The legitimacy of any type of monetary currency or transaction network rests in its uptake in the market. With more than 39 billion XRP tokens issued worldwide, there are enough coins for as many transactions as you would wish to complete. While there are more than 1500 altcoins in circulation, XRP/Ripple has been adopted by more than 100 companies around the world and is helping them to move currency around.

This adoption is part of the original development goal; to assist companies and banks, among other financial institutions, to transport monetary value. The ease in acceptance by financial institutions is also adding to its legitimacy and growing importance and value.

  • Fast
    Payments moving across the XRP Ledger settle in 4 seconds.
  • Scalable
    XRP consistently handles 1,500 transactions per second, 24×7, and can scale to handle the same throughput as Visa. (Source: 65,000+ transactions per second, as of July 15, 2019)
  • Distributed
    Run by a decentralized network of 150+ validators globally.
  • Stable
    XRP’s seven-year track record of stable technology and governance makes it ready for institutional and enterprise use.
  • Eco-Friendly
    The XRP Ledger settles XRP transactions instantly without the energy costs associated with proof of work (or mining).

How Does XRP Work?

XRP was created by Ripple to be a fast, less costly, and more scalable alternative to both other digital assets and existing monetary payment platforms like SWIFT.

RippleNet’s ledger is maintained by the global XRP Community, with Ripple the company as an active member. The XRP Ledger processes transactions roughly every 3-5 seconds, or whenever independent validator nodes come to a consensus on both the order and validity of XRP transactions — as opposed to proof-of-work mining like Bitcoin (BTC). Anyone can be a Ripple validator, and the list is currently made up of Ripple along with universities, financial institutions, and others.

How Do You Buy XRP?

You can buy XRP on any exchange that offers this digital currency. For the latest list of exchanges and trading pairs for this cryptocurrency, you can check out the “market pairs tab” on CoinMarketCap. Remember to do your own research before choosing an exchange!

How Do You Store XRP?

You can either store your XRP on an exchange, where the exchange is responsible for the safety of your asset or store your XRP in a cold or hot wallet.


XRP as a cryptocurrency is providing the confidence and stability that businesses require during transactions. Its growing usage over the years guarantees investors and companies value as well as reliability during transactions. XRP is a financial revolution sweeping the world today and will change the way you do your business in the near future.

XRP is the third most valuable cryptocurrency in the market today, estimated at slightly over $20 billion dollars in market cap. It is also one of the fastest-growing currencies and has more than 39 billion dollars of tokens in circulation. Even if XRP was a late entrant into the crypto market, it has captured the attention of many large industry players and the “regular Joe”. In a market that has doubled in value to $237 billion in the last year, it is necessary to watch the good performers and identify why they are the preferred cryptocurrencies.

Cryptocurrencies are designed to serve a particular market or solve a specific trading solution. XRP as crypto offers unique benefits to users and the market, making it a preferred mode of trading as opposed to others in the same league.

Key benefits with XRP:

  • Widespread Usage
  • Fast
  • Scalable
  • Decentralized Remittance System
  • Stable