Ripple is an open payment network with centralized real-time gross settlement system created by Ripple network. Ripple payment protocol was developed in the year 2004, but it was only in the year 2011 was released in 2012. The token XRP was developed mainly to enable the near instant and direct transfer of money between two parties.
Ripple is not a blockchain, but it uses a HashTree for single value data summarization by validating servers to provide consensus. The main objective behind developing Ripple is to move lots of money around the world as rapidly as possible.
Fast & Cheap: XRP payment settlements are made within 4 seconds, and the transaction fee is cheap when compared to other cryptos.
Scalable: XRP is capable of handling 1500 transactions per second, 24x7.
Distributed: XRP, is built on the principles of blockchain, it is an open source technology with a growing set of validators.
Stable: XRP is a steady growth record of 5 years, which makes it apt for institutional and enterprise purposes.