"Ripple coin" is an unofficial reference to the native currency of "Ripple," an open payments network that enables reliable cross-border currency transfers.
What Does "XRP" Stand For?
"XRP" is the official name of Ripple's native currency. It is used on the "xRapid" software as a means of near-instant liquidity for cross-border payments. Three of the five biggest money transfer companies have launched pilot programs using XRP.
To read about why banks might eventually use XRP, go here.
How Much Is Ripple Worth?
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