Ripple (XRP) is the third-largest cryptocurrency in the world by market capitalization. It is an open-source, peer-to-peer, decentralized digital asset that enables fast and secure transfers of money across the globe. The Ripple protocol is built on a distributed ledger technology, similar to Bitcoin.

Ripple was created by the Ripple company, an American technology company, in 2012. The Ripple protocol is designed to enable secure, fast and low-cost global financial transactions. It uses a consensus mechanism to ensure that transactions are verified and validated across the network. This consensus mechanism allows for quick and efficient settlement of payments, without the need for a trusted third party.

Ripple enables banks, payment providers, digital asset exchanges and corporates to send money across borders quickly, reliably and at low cost. Ripple also enables near-instant settlement of cross-border payments, allowing businesses to reduce their liquidity costs and manage risk more effectively.

Ripple’s native token is XRP. XRP is used to bridge different currencies and assets across the Ripple Network, allowing for faster, cheaper and more reliable transactions. XRP is also used as a reserve currency to facilitate currency exchange on the Ripple Network.