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RIPPLE (XRP) HISTORY – Timeline
2004 – Early beginnings (RipplePay)
Ryan Fugger, a Canadian developer, creates a system called RipplePay as a decentralized alternative for
money transfers.
The original idea was to allow people to extend credit to each other directly, without banks.
2012 – Foundation of Ripple Labs
Jed McCaleb (founder of Mt. Gox) and Chris Larsen take Fugger's concept and found OpenCoin, which would later become Ripple Labs.
They develop the Ripple Protocol Consensus Algorithm (RPCA), an alternative consensus system to Bitcoin.
2013-2014 – Early adoption and partnerships
Ripple begins to partner with banks and financial institutions to test its payment technology.
Unlike Bitcoin, Ripple does not use mining: the 100 billion XRP were pre-mined.
2015 – Ripple Labs under pressure
Ripple faces a $700,000 USD sanction from the U.S. FinCEN for violations of anti-money laundering laws.
2017-2018 – Market boom and rise of XRP
In the midst of the cryptocurrency frenzy, XRP reaches a record price of $3.84 USD in January 2018.
Ripple signs agreements with banks such as Santander, American Express, SBI Holdings, and Standard Chartered.
2020 – SEC lawsuit (major turning point)
The U.S. Securities and Exchange Commission (SEC) sues Ripple Labs, alleging that XRP is an unregistered security.
The price of XRP drops sharply and it is delisted from several trading platforms in the U.S.
2023 – Partial victory against the SEC
A judge rules that XRP is not a security when sold through exchanges, although it is in institutional sales.
Ripple celebrates it as a significant legal victory for the crypto ecosystem.
2024-2025 – Ripple consolidates
Ripple continues to expand as a provider of global payment infrastructure.
XRP is relisted on multiple platforms and maintains an active community.
