The history of XRP is a journey from one of many altcoins to a key player in the crypto market and a challenge to traditional financial systems.
Beginning of the journey: an ambitious start
XRP was launched in 2012 as a digital asset of Ripple Labs. Its goal from the very beginning set it apart from other cryptocurrencies — not just to be an alternative to fiat money, but to create a tool for fast and cheap cross-border exchanges.
While most cryptocurrencies attempted to compete with Bitcoin as a means of accumulation or payment, XRP immediately focused on solving the problem of global payments. This allowed it to quickly become a noticeable player.
Early successes and rise
In 2017, XRP experienced tremendous growth. With a market value of less than $1 billion, it surged into the top three cryptocurrencies, behind only Bitcoin and Ethereum. At its peak in January 2018, the price of XRP reached $3.84, and its market capitalization exceeded $120 billion.
This time became a turning point: XRP began to be perceived as a serious alternative to SWIFT — the traditional banking transfer system.
Collaboration with banks
Ripple has formed strategic partnerships with banks and financial institutions worldwide. XRP has particularly strong positions in Japan and South Korea. SBI Holdings, a major financial giant in Asia, has become one of Ripple's main allies, strengthening XRP in the East Asian markets.
Legal difficulties and challenges
Despite its success, XRP faced significant challenges. In 2020, the U.S. Securities and Exchange Commission (SEC) accused Ripple of selling unregistered securities. This led to a temporary loss of positions: exchanges began to delist XRP, and its price fell.
Nevertheless, Ripple began to actively defend itself, setting a precedent for the entire industry. The lawsuit only heightened interest in XRP, as investors saw it as a symbol of the struggle for the legitimacy of cryptocurrencies.
Today: comeback
Despite the difficulties, XRP remains one of the most popular cryptocurrencies. By the beginning of 2025, it consistently ranks in the top 10 crypto assets by market capitalization, and its network is used for real financial transactions worldwide.
XRP has proven that it can withstand market pressure, compete with other altcoins, and become a symbol of technological revolution in the world of finance.