What Is Ripple (XRP)? What Is the Price of XRP？
Ripple, a revolutionary real-time gross settlement system (RTGS), stands out with its unique ability to facilitate instantaneous worldwide currency transactions. Its native token, XRP, holds an integral role in the XRP Ledger (XRPL), while the platform's versatility allows for trading in any currency.
Introduced in 2012 by co-founders Chris Larsen and Jed McCaleb, Ripple is both a digital currency and a transaction network. This advanced system is engineered for banks and financial institutions, offering an efficient method to process international money transfers and securities.
The term 'Ripple' refers to two components - the company and the financial network. On the other hand, XRP, the platform's token, acts as a bridge for exchanges between different currencies or networks. In essence, XRP serves as a temporary intermediary for settlements between two currencies.
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