ripple xrp

What is Ripple (XRP)?

These days, digital currencies have become widely known. Many individuals are surprisingly discovering a many great things about these currencies enough for them to decide using and to invest in these currencies.

When talking about cryptocurrency, Ripple is a technology that performs as a cryptocurrency network for major financial transactions and digital payment, as well.  Ripple was initially released in year 2012, and this was actually co-founded by Jed McCaleb and Chris Larsen. The cryptocurrency coin is categorized and pre-mined as XRP.

Brief History    

Ripple was originally idealized by Ryan Fugger in 2004, the original developer of the very first Ripple prototype RipplePay, a decentralized digital monetary system. In 2005, this system went live and intended to deliver secure, safe, and reliable payment solutions within the global network.

It was in the year 2012 when Ryan Fugger handed over this project to Chris Larsen and Jaleb McCaleb, and they founded the OpenCoin together. OpenCoin is a recognized US-based technology company. From there, Ripple begins to establish a protocol mainly focused on the payment solutions for financial institutions like banks. In year 2013, Ripple was significantly rebranded into Ripple Labs and later on in 2015 was rebranded to Ripple.

What is this Used For?

Ripple is mainly used for the following:

  • Low-Commission Exchange of Currencies

There are numerous currencies that cannot be converted directly into each other. Therefore, banks must utilize a mediator such as the US dollar. In such a case, there will be a double-commission wherein A currency is converted to USD, and the USD will then be converted to currency B. It cannot be denied that Ripple also acts as a mediator, however, this is a lot cheaper than the USD.

  • Quicker International Transactions

The average time of the transaction is around 4 seconds as compared to almost an hour or even more for bitcoin. For the regular banking system, it usually takes few days.

  • Payment Ecosystem

Basically, users issue their own currency for affordable and quick transactions. Taking, for instance, an individual can create currency to purchase and to see action figures or vintage vinyls between collectors.

Benefits of Ripple

The following are some of the many great benefits of Ripple:

  • Ripple was created and designed originally as a daily payment system. Therefore, this is more powerful than bitcoin. Transactions are therefore a lot cheaper or quicker.
  • Ripple may be exchanged with any valuables or currencies such as gold and any currency with unified minimal commissions.
  • Ripple begins as official organization since its major focus is be utilized by banks. It is not, therefore, subject to numerous directives checks such as the other available cryptocurrencies.

Is Ripple Really a Worthy Investment?

There is really no investment, that is 100% safe. Every investment decision comes with risks. Nevertheless, here are the pros and cons of Ripple that can help you decide:


  • As mentioned above, Ripple is a reputable official organization trusted by numerous banks, so it’s not another blockchain from a no-name company.
  • If more banks will use Ripple as a transaction platform, the value of XRP gets higher. If in case all banks decided to begin using this as unified bank currency rather than processing terminated currency exchange, this will pave the way for great fortune especially for Ripple investors who invested at once.
  • Expect no inflation. The tokens are mined initially, and they exist already.


  • The Ripple is ultimately centralized. The entire cryptocurrency concept is circumventing centralized control. As tokens are mined already, developers can decide on how much to be released. It’s, therefore almost the same as investing in banks.
  • Ripple is an open source. This might be a smart feature however, as soon as code becomes accessible, there’s a high chance many individuals will attempt to hack it, and some may succeed in doing so.

Take time to research online and learn more about the benefits of Ripple. You will then be convinced that this is worthy of investment once you have clearly understood the benefits you can get.

If bitcoin is the very first cryptocurrency introduced and known for different uses, Ethereum is widely recognized for smart contract creation. Ripple can also be considered as currency exchange system focusing on solutions for global payments and for financial institutions as well.