XRP is a digital asset created for international payments on a public ledger.

What is Ripple? 

  • XRP is a digital asset built for payments. It is the native digital asset on the XRP Ledger—an open-source, permissionless and decentralized blockchain technology that can settle transactions in 3-5 seconds.
  • XRP is a centralized and private blockchain as XRP cannot be mined or verified in the traditional sense. Only banks or certain entities can verify the transactions, thus there are only some groups of people who control the account and release the token.
  • In May 2015, Ripple had frozen the account worth 96 million XRP of Jed McCaleb indicating that Ripple apparently has the ability to control any accounts and eventually led to a litigation.
  • Ripple’s transfer concept is different from other cryptocurrencies as when there is a Ripple transaction, a certain amount of XRP is burned in this process as a fee.

Key Metrics

Token NameRipple
Token Type/ProtocolXRP Ledger Consensus
Total Token Supply99,990,461,026 XRP
Current Circulating Supply See Coinmarketcap
Market CapitalisationSee Coinmarketcap
Token Creation Date2012
Can it be mined?No

Who is behind Ripple?

In 2012, Jed McCaleb, founder of Ripple Labs, Inc. created the XRP token and left in 2014. Chris Larsen now holds the position of executive chairman for Ripple’s director board.
Originally, the token was named Opencoin and was renamed to Ripple in 2015.

What is the purpose of Ripple?

XRP was created for international payments on a public ledger which runs the system on the decentralized network. Ripple’s transfer concept is different from other cryptocurrencies as when there is a Ripple transaction, a certain amount of XRP is burned in this process as a fee.


  • Ripplenet is a network of institutional payment-providers among banks i.e.
  • Santander (Financial services company)
  • Axis Bank (Private banking company)
  • Yes Bank (Private banking company)
  • Westpac (Private banking company)
  • Union Credit
  • NBAD (National Bank of Abu Dhabi)
  • UBS (investment banking company)
  • Ripple transactions are fast due to the absence of Proof of work and Proof of stake. Banks and some entities verify the transaction, making it faster compared to other traditional payment methods of cryptocurrencies. 
  • Ripplenet or Ripple Transaction Protocol (RTXP) is a network-based gateway bridging between multiple institutions including banks, government agencies and several companies to join and make transactions within the network.


  • Since XRP is centralized, the transaction is potentially controlled and intervened by a certain entity in different ways such as freezing the account (personal wallet), world-wide pausing or shutting down the transactions.  
  • XRP doesn’t have any validator and can only be validated by banks or some specific entities affecting the reliability of the token.
  • The services of Ripple support only B2B such as government agencies, institutions, and large companies.

News and Updates:

  • Flare Networks aims to be a new scalable and secure blockchain network which enables smart contract functionality and access to decentralized finance (DeFi) initially with XRP and Litecoin (LTC) followed by Bitcoin. Flare announced earlier this year that Spark token will be airdropped to XRP holders in Q2 of 2021.
  • The Securities and Exchange Commission (SEC) charges Ripple and two executives with conducting a $1.3 Billion unregistered digital asset securities offering. This lawsuit caused a major drop in XRP price and some exchanges in the States even suspended XRP trading and removed the token from their platforms.

Community & Whitepaper Links:


All investment is speculative and involves substantial risk and uncertainty. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment.  

Read more

We offer investors a variety of opportunities in the digital assets industry. Our innovative platform provides access for anyone seeking investment returns anywhere, anytime. Our ecosystem aims at making finance an everyday enriching activity.


The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of Zipmex.

Before you pay Zipmex any money or DPT, you must be aware of the following.

  1. Zipmex is not currently licensed by MAS to provide DPT services. This means that you will not be able to recover all the money or DPTs you paid to Zipmex if Zipmex’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by Zipmex.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
  4. You should be aware that Zipmex may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
  5. DPT held in your Hosted Wallet is not subject to the Singapore Deposit Insurance Scheme (“SDIC”) or any similar insurance or guaranty scheme of any other jurisdiction. In addition, funds stored in your Fiat Wallet do not benefit from the SDIC or any similar insurance or guaranty scheme of any other jurisdiction.

ZipUp+ products have not been approved by the Monetary Authority of Singapore (“MAS”) under the Payment Services Act 2019 and MAS has not reviewed or approved any features of these product offerings. Please review this link for the full terms and conditions and risk disclosure.