Ripple, XRP & XRP Ledger: How They Work in Crypto Together

In the cryptocurrency ecosystem, XRP and Ripple are prominent members, and so is XRP Ledger (XRPL). Often, the trio is confused based on their name and functionalities. This article will provide an explanation of each of the terms and their importance in the crypto world. 

Ripple

With a strong foundation in the crypto world, Ripple is not a stranger even to a novice trader. However, the name of the firm was not its actual name. In 2012, engineers David Schwartz and Jed McCaleb co-founded OpenCoin, which was changed to Ripple Labs Inc. in September 2013. Later, on October 6, 2015, the company was rebranded to its current name, Ripple. A private technology company, Ripple, focuses on building solutions for cross-border payments. It does not issue or control XRP but plays an influential role in the ecosystem by developing financial infrastructure that uses XRP. Ripple’s main goal is to improve the traditional payment system, especially for cross-border money transfers, which are slow, expensive, and depend on middlemen.

Ripple’s Product Suite

Through the RippleNet network, the firm allows banks and financial institutions to send money globally in a transparent m…

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