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What is XRP

By orbix • Publish in Crypto 101 • Oct 25,2024 • 4 min read

What is XRP 

XRP is native coin of Ripple network, act as medium for money transfer or payment between different country with low cost buy high efficiency 

Ripple is a network protocol for digital payment with a network owned token. Every transaction on Ripple will be record and unchangeable on XRP Ledger, which act as e-bookbank. Ripple main focus on develop network with high speed transaction, easy use easy access, and very low transaction fee. 

Ripple operate as open source peer to peer platform which make the transaction smooth and efficiency with XRP as medium currency for payment or transfer. 

XRP Founder 

XRP Founder are Chris Larsen and Jed McCaleb who were highly skilled computer engineer. Later McCaleb leave to found Stellar network 

Why XRP 

Ripple mission is to make transferring digital currency and fiat currency across border much easier and faster on network without depending on medium. With the Interledger Protocol, which is the international standard for payment to different network of Ledger that connect with more than 2 banks, the payment is done without middle man and in decentralized format. 

All transaction on Rippler network will be record on XRP Ledger (XRPL), decentralized account that can’t be alter which is also open source blockchain of Rippler that work separately from Ripple, meaning that the transaction is done with highly transparency, low fee, fast speed, and energy saving.  

Ripple become the alternative of payment with character of being decentralize, fast transaction validating, low transaction fee compare to other network, scalability to accept more and more transaction, highly secure and welcome user to join in the development of network. 

XRP Utility 

Main utility of XRP is being main token for payment and transferring within and over border, include being the fee for transaction on network as well. 

XRP Roadmap 

Currently there are various corporate in different industry that accept XRP as payment include VPN including NordVPN and Surfshard, Proxy include Froxy and Proxycheap, airline ticket includes Alternative Airline, and Gift Card include CoinGate Gift Card Store. 

Early of October 2024, Rippler announce partnership with various top cryptocurrency exchange platform and cryptocurrency payment platform including Uphold, Bitstamp, Bitso, MoonPay and more, mainly to support in distribution of RLUSD, new stablecoin of Ripple. 

Cryptocurrency involve high risks; investors may lose all investment money and should study information carefully and make investments according to own risk profile. 

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