Ripple (cryptocurrency)

Ripple (cryptocurrency)

Ripple is a global currency exchange and remittance network that aims to lower the cost and improve the speed of international bank transfers relative to legacy financial infrastructure.

Ripple is a global currency exchange and remittance network that aims to lower the cost and improve the speed of international bank transfers relative to legacy financial infrastructure. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native currency called XRP (ripples). Ripple's consensus is based on the Federated Byzantine Agreement (FBA) -- a kind of middle ground between public, permissionless blockchains such as Bitcoin and private, permissioned blockchains such as Hyperledger Fabric.

Ripple was released in 2012, helping to enable "secure, instant and nearly free global financial transactions of any size with no chargebacks."

At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process. In 2014, Ripple defended the security of its consensus algorithm against a competitor; Stellar Network. Currently, Ripple is the third-largest cryptocurrency by market capitalization, after Bitcoin and Ethereum. Used by companies such as UniCredit, UBS or Santander, the Ripple protocol has been increasingly adopted by banks and payment networks as settlement infrastructure technology.


With the Ripple ledger, people can send and receive different types of fiat currency or cryptocurrency. XRP is the native currency of the ledger, but by preparing trustlines, in other words a trust relationship between two parties, two financial organizations or people can trade with multiple currencies, all on the Ripple ledger. In this way, banks can send money across the world in just seconds, not days. The foreign currency that is held on the ledger is in the form of an IOU. In addition, if one party sought to purchase a foreign currency from a party for which they have no direct trustline, Ripple provides a path-finding algorithm that connects the two parties through indirect trustlines. This mechanism is called 'rippling' and consumers who have multiple gateways in the same currency can 'allow rippling' on their account to receive a small transit fee for allowing inter-gateway liquidity.

Spam prevention

Every Ripple wallet must have a minimum of 20 XRP and every transaction mandates a fee in Ripple. This helps to prevent flooding of the network from adversaries who wish to thwart it.


November 12, 2013

Ripple raises a $3,500,000 seed round from Camp One Ventures, Core Innovation Capital and IDG Ventures.

April 11, 2013

Ripple raises a $2,500,000 seed round from Lightspeed Venture Partners and Andreessen Horowitz.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
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Nithin David Thomas


Royce Raju Beena


Vinayak Radhakrishnan


Further reading


The Ripple Protocol Consensus Algorithm

David Schwartz, Noah Youngs and Arthur Britto


Documentaries, videos and podcasts


XRP Price Prediction 2020, 2021, 2025 | XRP Forecast

February 17, 2020




Omar Faridi
July 12, 2020
Crowdfund Insider
The need to modernize with the Cloud will "supercharge the competitive advantage" of innovative banks, Fintech professional says.
Samantha Hurst
July 2, 2020
Crowdfund Insider
Click HERE to find out ⭐ Currencycloud Teams Up With Ripple to Process Cross-Border Payments on RippleNet. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Samantha Hurst
June 19, 2020
Crowdfund Insider
Click HERE to find out ⭐ Ripple Joins Newly Formed Open Payments Coalition That's Launching Universal Payment Identifier PayID. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Samantha Hurst
June 15, 2020
Crowdfund Insider
Click HERE to find out ⭐ RippleNet Cloud's Latest Milestone: Names Brazil's Banco Rendimento As First Bank Customer. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Samantha Hurst
June 1, 2020
Crowdfund Insider
Click HERE to find out ⭐ Overfunding: Renewable Energy Platform Ripple Quickly Surpasses £250,000 Funding Target Through Latest Seedrs Round. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Omar Faridi
May 18, 2020
Crowdfund Insider
Fintech Ripple's partner, SBI Holdings, to integrate MoneyTap settlements platform to process transactions via ATMs in Japan.
Connie Loizos
May 15, 2020
Kevin Rose has been in the spotlight since cofounding the early social news aggregation site Digg in late 2004. A genial whiz kid turned serial entrepreneur, he has since become as well-known for launching a whole lot of slickly designed products, some of them out of his startup incubator Milk (later acquired by Google), and [...]
John Xavier
April 22, 2020
The Hindu
Today's cache is your daily download of the top 5 updates from the world of technology.
Katie Paul
April 21, 2020
Blockchain firm Ripple sued Alphabet Inc's YouTube on Tuesday, alleging the video-sharing platform failed to protect consumers from cryptocurrency "giveaway" scams that use fake social media profiles to dupe victims into sending money.
April 8, 2020
Former Ripple CEO appears on the Forbes 2020 World's Billionaires list together with three other members of the crypto industry
Romain Dillet
December 20, 2019
Ripple has raised a $200 million Series C funding round. Tetragon is leading the round, with SBI Holdings and Route 66 Ventures also participating. According to Fortune, the company is now valued at $10 billion. "We are in a strong financial position to execute against our vision. As others in the blockchain space have slowed [...]
Gertrude Chavez-Dreyfuss
November 20, 2019
About $400 million of XRP tokens, the currency for the Ripple payment network, is tied to illegal transactions, according to findings released on Wednesday by London-based Elliptic, a provider of risk management systems for the cryptocurrency industry.
November 6, 2019
New data from Juniper Research has shown that the total value of B2B cross-border payments immutably stored on blockchain will exceed $4.4 trillion by 2024; up from $171 billion in 2019. Blockchain enables real-time clearing and settlement for B2B transactions, while offering increased transparency and reduced costs., , , , The new research, Blockchain: Key Vertical Opportunities, Trends & Challenges 2019-2030 , revealed that financial institutions will save $7 billion by 2024, due to...
Tom Wilson
October 10, 2019
Facebook's Libra may be grabbing all the headlines at the moment, yet a major cryptocurrency already exists that's gained a toehold in mainstream commerce.
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CHICAGO, Feb. 15, 2019 /PRNewswire/ -- ChainFront, an API-as-a-Service company that removes the complexity of using, building, and managing blockchain wallets...
February 9, 2019
LAWRENCE, Kan. (AP) -- A Silicon Valley company has donated $2 million to the University of Kansas to support research related to cryptocurrency and digital payments, such as Bitcoin. The university says in a news release that the donation from Ripple will provide $400,000 each year for five years. It will go to the Information and Telecommunication Technology Center at the Kansas School of Engineering. The university will determine its own research topics and Ripple, which provides digital commerce services, will collaborate with students and faculty and provide technical resources and expertise.
Tom Arnold
Invalid Date
United Arab Emirates-based UAE Exchange and U.S. startup Ripple plan to launch cross-border remittances to Asia via blockchain by the first quarter of 2019, UAE Exchange's group CEO said in an interview.
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