Ripple (XRP) is a cryptocurrency and a digital payment network that enables fast and cheap global financial transactions. It is particularly focused on becoming a global enterprise and banking asset tokenisation platform.

No, Ripple is a DLT (distributed ledger technology), which differs from other cryptocurrencies such as Bitcoin and Ethereum in that it uses a distinct consensus protocol, does not rely on mining, and its data structure is not a chain of information blocks, but rather a ledger of inputs and outputs, protected by cryptographic hashes.

XRP works as a bridge between different currencies and payment networks, enabling fast and cheap transactions. Moreover, the Ripple network allows financial institutions and payment service providers to send and receive payments in real-time.

The price of XRP fluctuates constantly and can be checked on websites specialising in cryptocurrencies. Currently (August 2024), the price of XRP is approximately €0.5.

XRP is stored in digital wallets that support the cryptocurrency, such as Ledger Nano S, Trezor, and others. Another excellent option for storing your XRP is Bit2Me, a wallet where you can not only safeguard your cryptocurrencies, but also buy and sell them if you wish.

Ripple, the company behind XRP, has been involved in a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) for selling unregistered securities. This has affected the price of XRP and caused uncertainty in the cryptocurrency community. Despite this, Ripple continues to move forward with its vision of tokenising the institutional world by developing business and banking solutions aimed at evolving global finance and assets using blockchain technology.