Ripple is a technology that acts both as a digital payment network for financial transactions and cryptocurrency. It was firstly released in 2012, and Jed McCaleb and Chris Larsen co-founded the project. Ripple is a real-time gross settlement system that is designed for seamless transfer of money, no matter what the currency is, be it USD, Yen, Litecoin, etc.
The main aim of starting this platform was to facilitate instant global transactions at low costs. XRP is the cryptocurrency associated with the RippleNet. However, it’s not essential to only use XRP on its payment platform.