Ripple (XRP) – The modern approach to money

What is Ripple?

Ripple is a platform that is created for worldwide payments. XRP is a crypto released in 2012 that is traded on this platform. Although XRP sounds like it is an acronym, it actually doesn’t stand for anything. XRP is only known as XRP and Ripple.

The co-founders of XRP are Jed McCaleb and Chris Larsen. A few other contributors to XRP's technology are Stefan Thomas, David Schwartz and Arthur Britto. Stefan Thomas is the former chief technology officer of Ripple. David Schwartz is the co-author of the original Ripple white paper and is the current Ripple CTO (Chief Technology Officer). Arthur Britto is a co-author of the original Ripple white paper.

XRP is an altcoin. Although the term “altcoin” sounds like a hard term it actually just means “all cryptos excluding Bitcoin”. So, any crypto can be called an altcoin except for Bitcoin.

Ripple Logo
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The difference between XRP, Ripple, RippleNet and XRP ledger

To understand what XRP is, it is really important to understand the difference between XRP, Ripple, RippleNet and XRP ledger. Although you may not get confused with XRP Ledger and the others, you may get confused with XRP, Ripple and RippleNet.


XRP is a cryptocurrency which was issued and managed by Ripple Inc. XRP is currently ranked fourth (Bitcoin, Ethereum, Tether then XRP) with a market capitalisation of $13,577,372,251 at the time of writing.


XRP is a cryptocurrency (digital currency) which is issued and managed by Ripple Inc. XRP is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called XRP Ledger. RippleNet is run by a company called Ripple.


XRP is the currency that runs on a digital payment platform called RippleNet. The RippleNet payment platform is a real-time gross settlement (RTGS) system. RTGS is a fund transfer system where you don’t have to wait for some time for the settlement to happen.

XRP Ledger

XRP is a digital currency that runs on a platform called RippleNet. This platform is on top of a ledger database, that is called XRP Ledger.

The open-sourced XRP ledger is not based on blockchain.

XRP is the digital currency that is native to the XRP Ledger. The XRP ledger can also be used to transact any currency you want (only digital currency).

What is a ledger

Ledger is not to be confused with Ledger Nano S and Ledger Nano X, some popular hardware wallets. A ledger (or general ledger) keeps track of the data and financial transactions of the user of that crypto. It maintains the records, similar to a bill but anonymously.

Is Ripple mineable

First let’s understand the concept of mining. In simple terms, mining is the process through which high powered computers perform certain tasks that are very complicated or tough to earn cryptocurrency rewards. These tasks are like high level maths equations – hard and complicated.

There might be a big question for you, well it’s one question that a lot of people ask; Is XRP mineable as it is a cryptocurrency?

Well, the answer is no. If you are wondering why Bitcoin is mineable but XRP is not, here’s the answer:

Mining is done in Bitcoin in order to secure the network and confirm transactions and increase security. Miners (people who mine) secure the network and process every Bitcoin transaction. This is done so by solving a series of hard computational problems which allows them to chain together blocks of transactions and add them to the existing public blockchain ledger. But Ripple transactions are handled in a different way, lets see:

Unlike Bitcoin, Ripple is one of the cryptocurrency that is non-mineable. For a crypto to be mineable, it requires a Proof-of-Work consensus algorithm. However, Ripple is a PoS (proof of stake) altcoin. As XRP does not utilise a consensus algorithm, it has its own called XRP Ledger Consensus Protocol. The XRP Ledger Consensus Protocol is a previously developed consensus protocol that powers the XRP Ledger.

Buy XRP with a hardware wallet

Buying XRP is not so hard, it can be done is four easy steps:

Step 1: The first thing that you have to do, if you want to purchase XRP, is get a Ripple wallet such as the Ledger Nano S or Trezor Model T. Or you can even use websites for a wallet like (No. 1 XRP Ledger wallet since 2015). Hardware wallets are one of the safest to use.

Step 2: Now that you have a hardware wallet, you should also have a XRP address (a long secure code for buying that you should never share with anyone).

Step 3: Now what you have to do, is to open an account in a crypto exchange such as Currently a lot of exchanges support XRP and you could use any one that you like.

Step 4: After you have an account, get it verified with the usual steps; identicate your country of residence, submit your proof of identity document, upload a photo of your id document, upload a photo of the backside of your document, upload a selfie with the document etc.

Step 5: Now that it’s done, you can start buying with either your credit card or by using any fiat currency supported.

Step 6: One final step to be done is to withdraw the XRP to your wallet that you purchased at the start. You can also just hold your XRP in the exchange that you have bought from but it is completely your choice..

Buy XRP through Coinbase

Here are the steps to buy through Coinbase:

Go to and click on the sign up button.

Fill out the registration form.

After you have finished, add your bank account details.

Click on the Buy/Sell button.

Enter the amount of crypto that you want to buy, ie, 5 Bitcoins.

Choose the payment method that you want and continue to enter your details to complete the purchase. Then that’s it, Voila, you’re done.

Next steps after buying XRP

Now that you have purchased XRP, there are a lot of things that you can do. If I kept explaining them, I would be here for decades typing so I’ll just list out all the things that you can do:

  • Store XRP
  • Trade it
  • Send XRP
  • Spend it
  • Sell it
  • Learn more about it
  • Donate some of it

XRP statistics (as of 11-01-2021)

Price – ~$0.28

Market capitalisation – ~$13,000,000,000

Fully diluted market capitalisation – ~$28,000,000,000

24h Trading Volume – ~$10,000,000,000

Circulating Supply – ~45,000,000,000 XRP

Total supply – ~99,000,000,000 XRP

Maximum Supply – ~100,000,000,000 XRP

Refer other articles to learn more about market cap, trading volume, circulating supply, total supply, max supply and many more. Click here to visit XRP’s website

Fully diluted market capitalisation

Market capitalisation is the market value of the total outstanding shares, the shares of a corporation that has been authorized, issued and purchased by investors and are held by them, of the company in currency, such as dollars.

Fully diluted market capitalisation is similar to market capitalisation. The market capitalisation of a company is the price of a single share multiplied by the total number of outstanding shares held by them.

However, fully diluted market capitalisation of a company can by calculated by multiplying the price of a single share and the total number of fully diluted outstanding shares held by them. The fully diluted outstanding shares are the total number of outstanding shares and those that could be converted and claimed combined.

The fully diluted market cap of a cryptocurrency is the price of the crypto multiplied by the maximum supply, the best approximation of the maximum supply of that crypto asset that can ever exist.

For example, the price of XRP is ~$0.28 and its maximum supply is 100,000,000,000 XRP. The fully diluted market cap is ~0.28 x ~100,000,000,000 which is ~$28,000,000,000.

Advantages of XRP

  • Very fast transaction settlement time
  • One of the highest circulating supply, after VeChain, TRON, Revain, Dogecoin and BitTorrent
  • Several banks use XRP
  • Quick and low fees
Disclaimer: Digital Wallets News does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

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