Ripple was created in 2012 by Chris Larsen and Jed McCaleb in order to address the need in the international business market for a convenient way to transfer funds. Ripple's mission is to create a blockchain that can be used to validate financial transactions. The Ripple blockchain, as well as the whole global financial system, could be recreated as a result of this approach.

Ripple's digital payment protocol is more well-known than the cryptocurrency, XRP. Ripple is a peer-to-peer decentralized open-source network that allows transparent transfer of money in any form. Ripple sells XRP to institutions, however individual investors can trade it through an exchange. It can be purchased with other cryptocurrencies or with Fiat currencies.

XRP is at the forefront of the modern cryptocurrency era. Ripple has introduced modern blockchain technologies to a structural challenge in a way that has the potential to transform the global finance system. For the most part, it has proceeded slowly and methodically and more private investors are now joining the market.

XRP is not yet another cryptocurrency attempting to imitate Bitcoin and Ethereum's success. It has fast processing effectiveness, paying transfers in less than 3.5 seconds. Institutions will use Ripple's underlying technologies to replace existing technology with blockchain-based alternatives. While the Ripple Protocol Consensus Algorithm (RPCA) is not a conventional blockchain, it does use a similar consensus algorithm. This consensus is used by distributed networks to prevent double spending and other types of fraud.

Ripple's infrastructure does not have the decentralized control concept that is at the core of Bitcoin. The standard business structure gives Ripple more credibility with its core users and shows that it has a significant strategic edge over Bitcoin.

XRP is the cryptocurrency that Ripple created to operate on the blockchain. The simple premise is that when using a single unit of currency, transfers can be recorded more easily. Anyone sending money converts their local currency to XRP before sending it. After that, the receiver converts XRP into their own currency. XRP is nothing more than a standard accounting entry. The Ripple network's potential advantages to financial institutions go beyond the opportunity to make profits by keeping the blockchain. In reality, it's just a small part of the overall picture. The ease at which transactions can be settled, the lower cost and the complete certainty of the transfers are the main advantages.