What is XRP (XRP)?
XRP is one of the largest cryptocurrencies by market capitalization and also known by its coin name XRP. Ripple released in 2012 and has since gained popularity among both cryptocurrency enthusiasts and experts. It has been described as highly innovative, even compared to other projects.
Companies and institutions such as Google and American Express have actively partnered with Ripple.
How can I use XRP?
One of the main functions of XRP is that of a bridge currency. It is often used when two, often rare currencies cannot be directly exchanged at that given moment. Because of its bridge function, XRP valuation can be influenced by fluctuations in the value of the USD, BTC, JPY, and EUR, among others.
Although extensively used by large corporations and banks for various goals, Ripple can also simply be used to pay for products and services, much like Bitcoin. An increasing number of companies worldwide accept payments made with XRP.
Who founded Ripple?
Ripple was invented by Ripple Labs Inc., an American technology company. The early version of the coin was invented by Ryan Fugger in 2004, before Ripple Labs developed Ripple into its current form in 2012.
Ripple Labs still owns a large portion of all coins available, although an increasing percentage is becoming available to the public. Through various rounds, Ripple Labs has received over 100 million USD from investors, including Google, Accenture, Standard Chartered, and CME Group.