Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes. Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks." The ledger employs the native cryptocurrency known as XRP.
Ripple was conceived by Jed macCaleb and built by Arthur Britto and David Schwartz who then approached Ryan Fugger who had debuted in 2005 as a financial service to provide secure payment options to members of an online community via a global network.Fugger had developed a system called OpenCoin which would transform into Ripple. The company also created its own form of digital currency referred to as XRP to allow financial institutions to transfer money with negligible fees and wait-time.In 2013, the company reported interest from banks for using its payment system.
Ripple Labs continued as the primary contributors of code to the consensus verification system behind Ripple, which can "integrate with banks’ existing networks." Since 2013, the protocol has been adopted by an increasing number of financial institutions to "offer an alternative remittance option" to consumers.By December 2014 Ripple Labs began working with global payments service Earthport, combining Ripple's software with Earthport's payment services system. The partnership marked the first network usage of the Ripple protocol.On December 29, 2017, XRP briefly became the second largest cryptocurrency, with a market capitalization of US$73 billion.
You will see in picture that xrp is the best. The speed is so fast as 3 seconds per transaction. The cost is very cheap and lastly the scalability have huge amount per transaction.
The digital currency, XRP, acts as a bridge currency to other currencies. It does not discriminate between one fiat/cryptocurrency and another, and thus, makes it easy for any currency to be exchanged for another.