What is Ripple: The Journey from a Money Transfer Platform to What it is Today!

Published 08 Sep 2021 by Radhika Aggarwal

Table of Content

  1. What is Ripple XRP?
  2. How to Mine Ripple XRP?
  3. The Good About Ripple Cryptocurrency
  4. The Bad About Ripple Cryptocurrency
  5. Fluctuations in Ripple Price in India (XRP to INR)
  6. What is Ripple Cryptocurrency’s future?
  7. Ripple Price Prediction 2021
  8. Ripple Price Prediction 2022 – 2023
  9. Ripple Price Forecast 2024 – 2025
  10. Is Ripple a Good Investment?
  11. Conclusion

Ripple started as RipplePay, a money transfer platform created by developer Ryan Fugger in 2004. Over the years, it transformed into what we know and use today: XRP Ledger was launched in 2012 after Jed McCaleb realized he could expand his vision for decentralized payment systems beyond Bitcoin (BTC). The project has been influenced over the journey of transitions and developments by influential people such as Arthur Britto & David Schwartz; they opted to create their solution outside of BTC following launch back in 2009.

The CEO of Ripple had previously announced his decision to leave the company in 2016. He was replaced by Brad Garlinghouse, who has remained as Ripple’s current CEO until today. McCaleb left Ripple for Stellar after jumping ship on Mt Gox, which later collapsed due to security breaches that led to bankruptcy proceedings back in 2014. XRP is the native asset of the XRP ledger; a blockchain developed initially in 2011 by developers David Schwartz, Arthur Britto, and Jed McCaleb. The protocol officially launched in 2012, and, not long after, the team formed a new company called “OpenCoin,” led by Chris Larsen, who joined as CEO.

Ripple is a decentralized platform that aims to offer cheaper, more efficient, and secure money transfers. It achieves this through blockchain technology which settles transactions in real-time while keeping them transparent across its network.

The XRP is a San Francisco-based company that supports digital currencies. They use the XRP Ledger and its coin, XRP, to help banks process international transactions more efficiently by reducing transaction costs for both parties than other money transfer technologies like Society for Worldwide Interbank Financial Telecommunications (SWIFT) or Western Union.

What is Ripple XRP?

Ripple was created by a team of developers who wanted to provide people with an alternative way to transfer money. With Ripple, you can send and receive payments in almost any currency because it can handle other forms of value, like cars or houses. The XRP Ledger that powers the network has been engineered specifically, so transactions are completed faster than traditional bank transfers take place today - making financial institutions more competitive while providing consumers with lower costs when they need their cash immediately!

Ripple Labs has created a cryptocurrency that is fundamentally different from all other cryptocurrencies. Unlike mainstream cryptos, Ripple’s blockchain operates as an open-source protocol with no need for miners to verify transactions and seek consensus before the transaction can be added onto the ledger; instead of solving complex equations like Bitcoin or Ethereum require, holders merely have to hold XRP to participate in verifying transactions on its network–and it’s worth noting these are some of fastest verifications around!

As new transactions come in, the validators update their ledgers every three to five seconds and make sure they match. If there’s a mismatch, they stop to figure out what went wrong. This allows Ripple’s network of nodes all over the world to validate these transactions as fast and efficiently as possible without slowing down or halting due to an error like other cryptocurrencies do with Bitcoin; giving it that edge against others around the globe who are competing for popularity on cryptocurrency marketplaces worldwide.

How to Mine Ripple XRP?

Mining is what makes the blockchain work. Miners are responsible for verifying transactions and ensuring that no one spends their coins more than once, but mining also produces new Bitcoin (BTC), which helps keep it scarce.

Mining is a decentralized verification system used by most cryptocurrencies to facilitate transactions and provide the mechanism through which new cryptocurrency tokens enter into circulation- typically as rewards bestowed upon miners in exchange for their support of these blockchains. For instance, bitcoin has a total supply limit of 21 million units with steadily increasing production rates due to verifications made on its network. In contrast, other altcoins such as ether have an unlimited hard cap amount capped at 2 ETH per minute or a 6% annual inflation rate.

XRP is the only cryptocurrency that has never been mined for. So the company that created XRP, Ripple Labs Inc., decided to generate 100 billion tokens out of thin air with a simple transaction in their ledger without competition from miners. Even though it might seem unfair at first glance, there are reasons behind why they did this and how most people will think it’s great once you hear them all!

The pre-mining process means that anyone holding onto these coins now truly owns what could potentially become one of the world’s biggest cryptocurrencies just by pure luck!

The Good About Ripple Cryptocurrency

Ripple cryptocurrency offers many advantages because of the way it was designed. For example, it can process transactions much faster than Bitcoin or Ethereum and at a fraction of the costs involved with these other currencies, making Ripple an attractive alternative for investors looking to make quick transfers between exchanges, banks, and payment providers like PayPal.

Ripple is also working with the RippleNet team to provide an infrastructure layer that enables financial institutions worldwide, such as banks and payment providers alike, a more straightforward way of sending money globally. In addition, ripple leverages blockchain technology to be programmed in any language- making its utilization more widespread across industries than other cryptocurrencies limited by their coding languages!

Furthermore, Ripple is already being used by many prominent organizations. Ripple’s current non-profit partners include the Clinton Global Initiative and MIT Media Lab. Ripple also has a commercial relationship with Santander Bank, which invested $25 million into 2015! In July 2021, the cryptocurrency ranked sixth in terms of total market capitalization.

Fast settlement

Transactions are verified by miners in four to five seconds, thanks to their incredible speed. This is as fast or faster than bank wire transfers and much quicker than Bitcoin transactions which typically take minutes or hours depending on the size.

The transaction confirmations process at Ripple can be completed within a few seconds, compared to days for banks with conventional technology that confirms payments made from one account holder’s money but leaves them exposed until they’re credited into another person’s account or even weeks for some cryptocurrencies like bitcoin.

Deficient fees

The cost to complete a transaction on the xrp ledger is just 0.0001 XRP, which would be less than one cent at current rates. So you will save money and time by completing transactions with Ripple!

Versatile exchange network

With the Ripple network, transactions can be done in a variety of currencies. So whether it’s XRP or another cryptocurrency like Bitcoin, users have many different ways to use their funds on this decentralized payment app.

Used by large financial institutions

Ripple transactions can reduce transaction fees by up to 60% and get money into customers’ hands faster. Santander, Axis Bank, Yes Bank are examples of large enterprises that adopted Ripple’s global payments network for their use–demonstrating it already has more extensive institutional market adoption than most other cryptocurrencies!

Start Trade in Cryptocurrency at 0% fee*

The Bad About Ripple Cryptocurrency

Somewhat centralized

One of the reasons that cryptocurrencies became popular is because they were decentralized, taking control away from large banks and governments. However, the Ripple system can be a bit centralized since it defaults to only listing validators on its network, which goes against this philosophy.

Large pre-mined XRP supply

Ripple’s escrow system might be problematic. “Though most of Ripple supply not held in circulation is stored in an escrow, it’s possible large quantities may get introduced at unfortunate times.” In addition, there are no guaranteed safeguards to protect against a sudden influx of XRP being dumped onto the market with little warning.

Recent SEC action against XRP

The SEC filed a lawsuit against Ripple, claiming that the company should have registered it as securities since it can decide when to release XRP. The outcome of this suit could slow down institutional use for this system until resolved, which is causing an increasing number of exchanges to stop listing on their platforms because they are not considered legal in some jurisdictions.

Since 2020’s SEC filing stating that Ripple has been illegally operating without registering its security-based token (XRP), many exchanges have stopped trading and using the currency altogether due to potential regulatory concerns over how transactions with tokens like these affect cryptocurrencies’ compliance with government regulations.

Fluctuations in Ripple Price in India (XRP to INR)

ripple future

Cryptocurrencies are attracting more and more investors, even though the sector is not yet regulated. In terms of cryptocurrencies, there’s a wide selection to choose from. The most well-known cryptocurrency is likely Bitcoin, but others include Ripple, which can be accessed very quickly with no need for significant capital to invest in these currencies. However, you must keep track of your investments since prices fluctuate often based on many factors, including supply and demand and political events within major countries or around the world in general, affecting economies big or small! As far as price movements go, currently, against XRP has been experiencing quite an increase, so now may just be a great time if anyone hasn’t already gotten involved before!

What is Ripple Cryptocurrency’s future?

After the US Securities and Exchange Commission filed a lawsuit against Ripple, they also issued an order that halted trading XRP with many different exchanges such as Bitfinex–sending this digital currency into turmoil. With uncertainty over where ripple cryptocurrency will end up, you may want to do more research before investing your hard-earned money!

Ripple has grown in popularity for its high settlement rates, low transaction fees, and quick verification times. One of the reasons that cryptocurrencies became popular is because they were decentralized–taking control away from large banks and putting it back in the hands of smaller players. As a result, the Ripple blockchain technology and cryptocurrency have been making waves in the world of finance–and many wonder what its future may hold!

Ever, the Ripple system can be a bit centralized since it defaults to only listing validators on its network, which goes against this philosophy. In addition, large pre-mined XRP tokens exist that Ripple retains the power to release at will–such as when they gave away millions of dollars worth in August. With little warning, this could cause a sudden influx of XRP being dumped onto the market, and there’s no guaranteed safeguard against this!

The future of Ripple Cryptocurrency is uncertain. In 2020, US Securities and Exchange Commission filed a lawsuit against Ripple, halting the trading XRP with many different exchanges such as Bitfinex–sending this digital currency into turmoil. With uncertainty over where the ripple cryptocurrency will end, you may want to do more research before investing your hard-earned money!

Since 2020’s SEC filing stating that Ripple has been illegally selling XRP, Ripple has seen a sharp decline. This is because many investors are concerned about the future of this cryptocurrency and its legitimacy in general.

Ripple coin Price Prediction 2021

Ripple’s recent court victory could trigger the crypto to skyrocket, with it likely shooting past $16 and all-time highs. The currency has been in a downslide since its last bull market, at least until now. If this upward trend continues for Ripple XRP, we might see an earlier rise than expected - like when Bitcoin was able to break through resistance levels within just weeks of being released on exchanges a few years ago.

Ripple coin price prediction 2022 – 2023

The Ripple cryptocurrency was just down to $6 from a high of nearly $20 and may be ready for another bear market. The currency would have to find support at around $5-7 before any recovery could happen, which is close enough that the bottom has likely been put in place, with more bears expected after bottoming out this time.

Price Prediction in 2024 – 2025

The price of XRP is an unknown quantity. With the asset’s history being as volatile and unpredictable as it has been, there are no guarantees that any strong movement in either direction will last long enough to be noticed by investors before they jump ship for safety or a more promising investment opportunity. However, this could all change with one tweet from Brad Garlinghouse himself announcing RippleNet integration with Amazon Web Services (AWS).

Is Ripple a Good Investment?

As the financial world is unpredictable, every investment has its fair share of ups and downs. The same can be said for digital assets like XRP. However, major institutions are adopting Ripple, which could mean a positive future value increase in this crypto asset - making it an excellent choice for thematic investors who buy based on top-down strategies to diversify their portfolios!

XRP has been making waves in the cryptocurrency market, with a low price point opening up an affordable entry and investment opportunity for first-time buyers. In addition, ripple’s use of XRP across its network to facilitate quick currency transfers at lower costs makes it one of today’s most sought-after crypto tokens. It offers more than enough liquidity compared to other popular altcoins like Ethereum or Bitcoin Cash, which are often afflicted by extended transaction times and high fees, making them less desirable options for traders looking for fast conversion rates between currencies. With over 100 multinational banks already using RippleNet as their go-to platform due to this instant cross-border transfer capabilities - there’s no telling how much longer before mass adoption occurs!

It’s easy to see that XRP is a significant investment. After all, it has the potential for huge returns in both price and time and is one of the most liquid assets on earth, with an average daily volume of over 1 billion dollars! However, this doesn’t mean you should jump right into investing your money without considering some drawbacks. For instance, altcoins often outperform Ripple because they have larger market caps or more liquidity than what we typically find with other cryptocurrencies like Bitcoin (BTC).


Ripple is changing the way people do business. It’s not just an alternative to Bitcoin; it’s also a payment network for financial transactions. Suppose you’re interested in being on the cutting edge of finance. In that case, we recommend signing up with us and following our Twitter account so that you can be among the first to know when we release new features or make announcements about what’s going on at cxihub. We care deeply about your success as a customer and want nothing more than for you to succeed! That’s why we offer many resources like tutorials, support articles, blog posts (like this one), and live webinars by industry leaders - all designed specifically with YOU in mind!

Subscribe to our newsletter