Ripple refers to a payment request format based on an open-source protocol. It works as a payment protocol in three ways, namely a currency exchange, remittance network, and gross settlement system. It was made public in 2012 and offers support for tokens that represent units of value. Notably, it supports cryptocurrencies, fiat currencies, mobile minutes, and flier miles.
Behind Ripple is Jed McCaleb and its developer, Artur Britto. The ledger employs a native cryptocurrency, XRP. Its goal is to enable any size of financial transactions without chargebacks. It also aims to provide a secure payment option to online communities via a worldwide network.