A cryptocurrency named XRP operates on the XRP Ledger, a distributed ledger created by Jed McCaleb, Arthur Britto, and David Schwartz. McCaleb and Britto later founded Ripple, and they used XRP to facilitate transactions on the network. You can buy it as an investment, exchange it for other cryptocurrencies, or use it to finance transactions on the Ripple network.
The company behind the cryptocurrency, Ripple, describes it as a “digital asset built for global payments.” Launched in 2012, XRP has one of the most ambitious goals in cryptocurrency: to enable fast and cheap transactions suitable for a global economy. The software that powers the cryptocurrency, the XRP Ledger, proposed a new way of operating blockchains that is more efficient than existing models.
XRP has deep roots in Ripple’s ecosystem, a for-profit company. Ripple facilitates the development of the XRP Ledger and helps maintain it.
The company also holds a significant amount of tokens. A maximum of 100 billion XRP tokens are available. The company controls about 60% of them and has placed 55 billion of them in a secure escrow account. From this account, one billion coins can be released to the market each month.