What is Ripple?

Ripple (XRP) is a real-time gross settlement system, currency exchange, and remittance network created by Ripple Labs Inc. in 2012. Ripple is built on a decentralized, open-source protocol and ledger that uses a consensus algorithm to validate transactions and maintain the network.

Ripple is designed to enable fast and cheap cross-border payments and remittances, with transactions settled in just a few seconds. The network uses its own cryptocurrency, XRP, as a bridge currency to facilitate transactions between different currencies and financial institutions. This makes it possible for financial institutions to move money across borders quickly and cost-effectively, without the need for intermediaries or correspondent banks.

One of the key features of Ripple is its focus on interoperability and compatibility with existing financial infrastructure. Ripple's technology can be integrated with banks and other financial institutions, allowing them to use the network to improve their payment and settlement systems. Ripple has partnerships with many major banks and financial institutions around the world.

Ripple has faced some controversy in the cryptocurrency community due to its centralized control over the XRP supply and the ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC) regarding the regulatory status of XRP. Despite this, Ripple remains one of the most widely used and well-known blockchain-based payment networks, with a market capitalization that consistently ranks among the top cryptocurrencies.

The article does not constitute financial advice.

Start with crypto today

Sign up on NBX, a trusted Norwegian cryptocurrency exchange and custodian, and kickstart your crypto journey safely.
Crypto 101
Explore the most popular crypto terms and find answers to your questions.

What is MDM, EDR and configuration hardening?


What is Macro Investing?


Who owns the most Bitcoin?


What is an altcoin?


What is spot trading?


What is a smart contract?


What is Chainlink?


What is a Private Key?


What is Dogecoin?


Insights, Trends, Analysis

Unraveling the cryptocurrency industry revolution.

The Remarkable History of Dogecoin: From Meme to Global Crypto Sensation

The history of Dogecoin is a testament to the power of community, humor, and collective enthusiasm within the cryptocurrency space. What started as a playful meme coin has evolved into a global sensation, embraced by a vibrant community that continues to push the boundaries of what a cryptocurrency can achieve.
4 min

Everything You Need To Know About NFTs: A Comprehensive Guide

In recent years, the world of digital assets has undergone a revolutionary change with the emergence of Non-Fungible Tokens (NFTs). These unique tokens have captured the attention of artists, collectors, and investors alike.
10 min

A Decade of Cryptocurrency Exchanges: From Hacks to Innovation

Over the past 10 years, the cryptocurrency market has witnessed remarkable growth, accompanied by notable incidents, evolving trends, and continuous efforts to improve security and user experience. Though, many have taken steps to enhance user fund protection and comply with regulatory requirements.
7 min
Cookie Consent

By clicking “Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.