#MarketTurbulence Ripple, launched in 2012 — is a gross settlement system, currency exchange, and real-time money transfer system developed by Ripple Labs Inc. The system is built on a distributed open protocol and supports tokens representing fiat money, cryptocurrency, exchange commodities, or other objects such as frequent flyer miles or mobile minutes. An internal cryptocurrency known as XRP is used in the ledger.

As for its application, XRP has far-reaching plans. The goal is to simplify cross-border money transfers between banks and other financial organizations. RippleNet plays an integral role here, as it is the only tool capable of processing XRP transactions.

Despite some banks wavering to use RippleNet as a replacement for the outdated SWIFT, a number of financial institutions have trusted the new technology. Companies like Santander, Western Union, and UniCredit are already collaborating with Ripple Labs and testing its functionality.

In summary, XRP is quite a unique coin. It is technically flawless, has large-scale and promising goals. Many financial analysts predict a bright future.