What is Ripple (XRP)?

From $0.006519 USD on the 1st of January 2017 to $0.221919 USD on the 7th of December 2017, what makes Ripple (XRP) 🚀+ 3,404%?

From Reddit’s “Explain it to me Like I’m Five”(ELI5) thread on Ripple, thanks to Bitpam.

A network and protocol which serves as a real time gross settlement system, currency exchange, and remittance network.
Ripple is a fintech company working with over 90 banks worldwide (15 of the top 50), the Federal Reserve which is the central banking system of the United States, and has investors like Google and Andreessen Horowitz.
XRP is the native digital asset of the Ripple network and has transaction times of only 4 seconds and costs less than 0.0007 USD.
Ripple is aiming to give rise to an Internet of Value, also known as IOV, where money and value can move around as fast, secure, inexpensive, and globally as possible, building the infrastructure necessary to connect market makers, financial institutions, and other groups and people to create a vast network of liquidity, creating new opportunities for revenue and saving huge amounts of money in the process.

Ripple is both a digital currency (unit of account) and a payment protocol.

Nevertheless it’s important to understand that the total supply of Ripple is 100 billion units even though sites like coinmarketcap only show the current public distribution of tokens.

Famously Vitalik Buterin the founder of Ethereum wrote about the importance of distribution in a 2013 article titled: Introducing Ripple — A Detailed Look at Cryptocurrency’s New Kid on the Block.


This post is intended for those new to the cryptocurrency space, and who are looking for a high-level explanation of Ripple and associated technologies. For readers who are already familiar with the basics and want to know more about Ripple and other cryptocurrencies, we’d recommend the Ripple Solution Overview and the Ripple Protocol Consensus Algorithm Whitepaper or Blockchain at Berkeley to start.

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