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What is XRP? What is Ripple? Complete set of in-depth knowledge


Perhaps before reading this article, you already know a little about the third largest cryptocurrency on CoinMarketCap – XRP. But with the following article, Blogtienao will dig deeper into all aspects of XRP and Ripple.

Besides, we will point out some misconceptions that almost everyone makes when thinking about this coin. Let's Blogtienao find out!

What is Ripple?

Ripple is the name of a company and also a real-time payment system, network of exchange and remittance.

Ripple was first conceived in 2004 by Ryan Fugger, who developed the first prototype of Ripple as a decentralized digital currency system (RipplePay).

This system came into operation in 2005 with the goal of providing secure payment solutions in a global network.

In 2012, Fugger handed the project over to Jed McCaleb and Chris Larsen, and together they founded the US-based technology company OpenCoin.

From that point on, Ripple started to be built as a protocol focused on payment solutions for banks and financial institutions. In 2013, OpenCoin changed its name to Ripple Labs; and in 2015, the company officially took the name Ripple.

What is XRP?

XRP (Ripple coin) is a real-time payment system (RTGS). They are also known as Ripple Transaction Protocol (RTXP) or Ripple protocol.

Ripple network was born in 2012 with the aim of helping people to use the services of financial institutions, banks, Paypal... with an extremely low cost but faster processing speed.

XRP uses Blockchain algorithm technology, similar to Bitcoin, to help settle financial transactions between banks more quickly.

Everyone can watch the video now below for a more dynamic view. You can turn on Vietnamese subtitles if you can't hear English.

XRP Development Team

XRP or the Ripple protocol was built and developed by the company OpenCoin, of which Chris Larsen is the CEO and the CTO is Jed McCaleb.

  • Chris Larsen: Co-founder and leader of financial company E-LOAN. Co-founded several startups in the field of online financial services. In addition, he is also known as the investor "Angel".
  • McCaleb: Co-founder of Mt. Gox along with some other crypto projects like Stellar (XLM), eDonkey, Overnet

In addition, the team also attracts many other talents in the industry who are extremely knowledgeable about cryptocurrencies as well as blockchain.

Is XRP a competitor to Bitcoin?

Surely when learning about XRP, many people will wonder if XRP will become a competitor to Bitcoin Are not? The answer here is “no”. Because these two coins operate in two completely different ways.

Is XRP a BTC competitor?
Is XRP a BTC competitor?

XRP is designed for seamless, fast money transfers no matter which country's currency: USD, British Pound, Euro or even Bitcoin…

Bitcoin is designed to be a means of payment; towards becoming a global currency.

Difference Between XRP and Bitcoin

Difference Between XRP and BTC

Benefits that XRP brings

  • XRP has really fast transaction times, a transaction currently only takes about 4 seconds to be processed
  • XRP has extremely cheap transaction fees, around 0.00001 USD per transaction.
  • Ripple works with over 100 banks including some of the major banks such as Bank of America, UBS, Standard Chartered, Barclays, JP Morgan, Santander, and American Express.
  • XRP's blockchain adds transparency and security to transactions by adding each transaction to an immutable public ledger.
  • XRP transactions are completely peer-to-peer.

Application of XRP in the real world

As mentioned in the above section, XRP's goal is to become the world's payment system, helping to solve the problem of bank transfer times.

With this purchase, the future of XRP depends almost entirely on whether banks adopt the Ripple network. Fortunately, this is already happening and more and more major banks around the world are joining this community.

And as the “banking” community expands, the price of XRP is likely to rise as well.

Advantages of XRP

  • No Inflation: All tokens are “minted” from the beginning and already exist
  • The more banks use it, the higher the value of XRP will be: If one day all banks decide to use XRP as a unified banking currency instead of dealing with fiat transactions. for each country, this will be great news for XRP holders
  • Ripple is an official organization trusted by many banks; rather than a Blockchain startup

Disadvantages of XRP

  • Highly centralized: Since the coins are “minted”, Ripple developers can decide when and how many coins will be released, or not. So it's basically like investing in stocks
  • Being open source, once the code is successfully accessed by hackers, the possibility of being hacked will be quite high (although this is not easy).

Rate of XRP coin

According to network developers under Ripple, there will be around 100 billion XRP issued. Of which half will be held by the company, the other half will be circulated in the market. At time Blogtienao write this post, XRP price is $ 0.2068. The total market capitalization is currently over 9 billion USD.

XRP Rates

XRP Price Movement Overview

Is the price of XRP dominated by Bitcoin?

If you wonder if XRP price is dominated by Bitcoin? Then the answer is “Yes”. But this is not complete domination. In fact, if you pay attention to the volatility of the market, you will realize that the price of all cryptocurrencies is affected by the volatility of Bitcoin. And XRP is no exception.

However, the volatility of XRP is also related to many other factors; such as: when the supply is pumped more, the geopolitical situation, hacking, ...

Does Ripple's presence affect XRP price?

As you know, Ripple company holds the supply of XRP and is the issuer of the coin to the market. In 2019, the Ripple company released millions of XRP each quarter; Specifically:

  • Q1/2019: Ripple sells about $169.42 million XRP
  • Q2/2019: Ripple sells about $251,51 million XRP
  • Q3/2019: Ripple sells about $66.24 million XRP
  • Q4/2019: At the time of update, Blogtienao still have not received Ripple Q4 coin release report

According to investors, it is Ripple's massive monthly release of XRP that is the main reason for the dismal XRP price throughout 2019. However, the company has repeatedly voiced opposition to this view:

Ripple-related topics such as “dumping XRP”, “Ripple flooding the market” are all from bots on Twitter; up 179% quarter over quarter. These accusations have been the most popular topic in recent months. They caused the company to receive a lot of criticism, while other coins were luckier than us


Investors need to know that we cannot control the price of XRP. The coin is traded on an independent market; including more than 140 exchanges. In that, we play a very limited role.

It seems that the monthly mass release of XRP won't stop as we enter 2020. On January 01, 01, Whale Alert announced that Ripple has unlocked 2020 billion XRP from its custodial wallet.

Should you invest in XRP?

As with any investment decision, there are opportunities and risks involved. The higher the chance, the higher the risk too. Therefore, Blogtienao expects you to research carefully and then make your own decision; and do not listen to “investment advice” from anyone, even if they are experts.

How to own XRP?

Because XRP uses RPCA algorithm, you cannot get XRP through mining like BTC. In addition, Ripple also does not organize events or airdrop events. So you can only own them through buying on reputable exchanges.

Where to buy XRP safely? How to buy XRP with Vietnam Dong.

Currently, you can buy XRP on almost all cryptocurrency exchanges in Vietnam and internationally. So where are the safe floors?

Prestigious international platform

You can buy XRP at the following reputable international exchanges: Binance, Huobi, OKEx, Bitfinex, Snapex… In which, Binance and Huobi are the two most used exchanges because of their low trading side.

Prestigious Vietnamese floor

When trading on an international exchange, you will face difficulties in language and currency barriers (usually international exchanges do not support VND). So why don't you use an exchange in Vietnam to solve the above problem?

In Vietnam, you can use the following exchanges: Vicuta, Remittan, T-REX, Coinhako... These are the exchanges that support Vietnamese and Vietnamese Dong.

You may not know, Vicuta is an affiliated exchange Blogtienao and has very good transaction fees. In addition, we always provide quick and timely user support.

Watch now: Instructions for registering an account on Vicuta

Secure Storage Wallet for XRP

Given the popularity of XRP today, you have many choices in holding them.

Hot wallet

Or another way is to hold directly on the exchange. This way is very convenient for those who often trade. But for holders, this is a rather dangerous and not recommended way of storing

Cold wallet

Hold in cold wallets like Trust wallet, Ledger Nano S, Safe deposit, … This is the safest way to store today, suitable for holders

Ripple's Global Ambition

Ripple CEO Chris Larsen said that Ripple is rapidly allocating capital to its global plans.

Mr. Larsen answered CNBC

We are expanding the areas where we have offices. Ripple wants to further expand and develop capacity for new teams. We are urgently recruiting more staff and increasing the number of programmers to work directly with partner banks in their countries. Only then can we offer the most optimal solutions for our partners.

Ripple's Global Ambition
Luxemburg Prime Minister Xavier Bettel (left) visits Ripple's newly opened office.

Following the newly established office in Luxemburg, the next locations that Ripple is targeting are Frankfurt (Germany) and Singapore and many other destinations.

Mr. Larsen said that once networked devices become more and more popular in the internet era, small cross-border payments will increase simultaneously. Banks will need Ripple to solve their problems.

The CEO of Ripple said that they are starting to implement a plan to help a smaller group of startups in the same field with the aim of going global.

Ripple attracts a series of big banks in the world

In the previous list of Ripple's strategic partners, there were heavy names; such as: Google, IDG Capital Partners, Anderssen or AME Cloud Ventures.

To date, the Ripple network's capital has reached $93 million, which is an impressive number for a startup that was founded in 2012.

According to Coindesk statistics, the amount of money invested in Ripple ranks 4th in the segment of companies providing blockchain and Bitcoin computing services.

According to Fortune magazine, Ripple's value has increased by more than 25% following the announcement of an additional $55 million.

Besides, according to the current number provided by Ripple, there are more than 300 customers using RippleNet.

Ripple's Achievements and Products

XRP Ledger (XRPL)

XRP Ledger (XRPL) is the forerunner of Ripple Consensus Ledger (RCL) which was implemented by Ripple in 2012.

XRPL operates as a distributed economic system. They not only store user's trading information, but also provide trading services for many currency pairs.

XRPL as an open source distributed ledger that allows real-time financial transactions. These transactions are secured and verified by network participants through a consensus mechanism.

However, unlike Bitcoin, the XRP Ledger is not based on the Proof of Work consensus algorithm. Therefore, they do not rely on the mining process to verify transactions.

Instead, the network achieves consensus through the use of a customized consensus algorithm – formerly known as the Ripple Protocol Consensus Algorithm (RPCA).

XRPL is managed by continuous independent validating nodes that reconcile transaction records. Anyone can set up and run a Ripple validator node. Not only that, it is also possible to choose trusted nodes to be validators.

However, Ripple advises customers to use a list of known and trusted nodes to validate transactions. This list is called the Unique Node List (UNL).

Also, since XRPL is an open source distributed ledger, anyone can contribute to the code. Therefore, XRPL can continue to work even if the company is shut down.

XRP Ledger


In contrast to XRPL, RippleNet is a proprietary product of the Ripple company. They are built on top of the XRPL platform.

RippleNet currently offers 3 main products: xRapid, xCurrent and xVia. They are designed as a payment solution for banks and financial institutions.

See how RippleNet works in the video below


  • As an on-demand liquidity solution
  • Use XRP as a connecting currency for fiat currency pairs
  • Enables faster confirmation times and lower costs than traditional methods

Take a simple example:

You want to send 100 USD from Vietnam to your brother in the UK. You transfer money through the financial institution FIN. To execute trades, FIN uses the xRapid solution to create connections between exchanges in both source and destination countries.

This way the company can convert your 100 USD into XRP. It helps to provide the liquidity needed for the final settlement. In just a few seconds, XRP will be converted to British Pounds and your brother can withdraw from the UK exchange.


  • As a solution to provide instant settlement; track cross-border payments between members of RippleNet
  • Not built on XRP Ledger but built on Interledger Protocol (ILP)
  • Do not use XRP

The four basic components of xCurrent are:

  1. Messenger: Provides peer-to-peer communication between RippleNet financial institutions. It is used to exchange information regarding risk, compliance, fees, FX rates, payment details and expected time of remittance.

  2. Validator: Used to confirm transaction success or failure. Also to coordinate in transferring money on Interledger. Financial institutions can run their own validator or can rely on a third-party validator

  3. ILP Ledger: The Interledger Protocol is implemented into existing bank ledgers, creating the ILP Ledger. The ILP Ledger acts as a secondary ledger. They are used to track credits, debits, and liquidity between trading parties. Funds will be settled very quickly

  4. FX Ticker: Used to determine the exchange rate between trading parties. It monitors the current status of each configured ILP Ledger

While xCurrent is primarily designed for fiat currencies, it also supports cryptocurrency transactions.


  • A standardized interface based on API
  • Allows banks and financial service providers to interact in a single framework. As a result, they don't have to rely on many payment network integrations
  • Allows banks to create payments through other banking partners connected to RippleNet
  • Allow them to attach invoices or other information to transactions

Community and social channel

Official website: https://ripple.com/xrp/

Check transaction: https://bithump.com/explorer/

Telegram: https://t.me/Ripple

Twitter: https://twitter.com/Ripple

Facebook: https://www.facebook.com/ripplepay

Linkedin: https://www.linkedin.com/company/ripple-labs

Source code: https://github.com/ripple

Email: support@ripple.com


Hopefully with this article, you have had a clearer view of XRP and Ripple coins. Blogtienao Thank you for reading and good luck with your investment.

4.7/5 - (37 votes)


  1. $93 million. The company owns half. equivalent to all assets of those who buy Ripple. With this asset the company can intervene to change the price of Ripple. 1% ripple is in the company, 50% is used for the people, so the capitalization is not multiplied by 50% in the company, the capitalization will not be 50 million USD, but 93 million USD, * plus the company invested 45.5 million USD, so the company holds more than 55%. this is a public figure, people use less than 75% of the total ripple, it is possible that the company holds more than 25% of ripple, in times of wanting to push the price up, (the company buys)
    – shows that the rising price of Ripple is due to the company pushing itself “shows why the new Ripple is little known, but has risen in price, high in capitalization”
    – the company is capable of managing the growth of Ripple as opposed to bitcoin or virtual currency in general, everyone is equal, no 3rd party interference
    – buying ripple only enriches the company. and there is no equality here

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  3. Yes and the "fool" of this company is to go to youtube to HACK THE YOUTUBE ACCOUNT of a youtuber specializing in making a pretty popular game in Asia, MINI WORLD. I know they need to livestream to provide information but do they really need to? If you don't believe it, check out Kamui's channel.


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Hi, I'm Hen Vai, Founder of Blogtienao (BTA), I'm very passionate about community, that's why blogtienao was born in 2017, hope the knowledge on BTA will help you.
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