top of page

What is XRP cryptocurrency: Overview, history and future

Updated: Jan 30

The author Elisa Alessandroni of the article:" What is XRP: Overview, history and future".

Publication date: 03.11.2023

Nowadays cryptocurrencies are very popular as a means of payment and remittance.

In particular, they are a digital currency used as an alternative instrument of payment using cryptography for security. Unlike the U.S Dollar or the Euro, there is no central authority that governs it.

What is XRP

XRP cryptocurrency in Ripple Network

XRP is the cryptocurrency used in the Ripple Network. Ripple is the name of a company, launched in 2012, that issues its own cryptocurrency named XRP. The main goal of Ripple is to facilitate payments and financial transfers for banks and other important institutions. What’s more, it allows as many transactions as possible between companies interested in technology. In July 2023, XRP’s market capitalization was about $42 billion.

What’s the difference between XRP and other Cryptocurrencies?

XRP a part of a Swift System

XRP is not a direct rival of Bitcoin, but is part of a Swift System (Society for Worldwide Interbank Financial Telecommunication). This is the most famous system used by banks in their financial transactions.

The aim of the Swift System is to allow direct payments even if the debtor and the creditor are not part of the same bank. So, the payment takes place all around the world. It also provides software to important institutions. In addition, it doesn’t run on a blockchain. As compared to Bitcoins, XRP is more efficient in speed, security, computing power ecc.


Ripple is a company founded in 2004 in Vancouver, Canada by Ryan Fugger. At the time this company functioned as RipplePay. In 2012 the company was sold to Jed McCaleb, Arthur Brito and David Schwarz which transformed the company into a digital currency network. The new name was OpenCoin.

After that, McCaleb renamed the company Stellar in 2013 and finally in 2015 “Ripple”.

Nowadays Ripple is a very popular Network. Actually, it has been present in the top five cryptocurrencies by market capitalization for the past several years.

The Future of XRP

As you can imagine, it is very difficult to predict the future of XRP. As all cryptocurrencies are like to predict the weather forecasts. This is because we have to consider many variables: some are predictable, others are not. Therefore, it is crucial to stay informed about the latest news related to XRP.

So, we have to pay attention to the market performance; to the competition with other cryptocurrencies. Its future success may depend on how it ranks with other competitors.

Two factors to consider are the Technological developments and the development of the payment system.


You can also read about:


Reference List

17 views0 comments


bottom of page