A Simple Introduction to XRP

What is XRP?

  • Also known as Ripple
  • Created by RippleLabs
  • Main goal is to revolutionize global payments and make sending money across the world as easy as possible
  • Replacement of swift which is what banks uses today which takes 3-5 business days, conversion fees and bank fees
  • Voting mechanism to validate which transactions goes through; requires 80% consensus of the Ripple network
  • Currently adopted by large financial institutions such as American Express and Standard Chartered bank
  • Used as a bridge currency that is used as an intermediate exchange between 2 currencies (e.g. USD => XRP => Euro)


  • Real time settlements (4 seconds)
  • 1500 TPS
  • Virtually zero fees
  • Main advantage of Ripple is that it’s actually used by over 100 companies around the world

SEC Lawsuit (Dec 2020)

  • Alleged that XRP is not a currency, but a security
  • XRP is not a currency that can be mined, and RippleLabs have control over most of it
  • SEC also alleged that Ripple exchanged XRP in exchange for non-cash considerations such as labor and market-making services


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Ricky Young

My belief is that financial freedom can only be achieved through a combination of smart investing and passive income. This is my journey to achieve financial freedom.

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