$XRP XRP is a real-time gross settlement system, a currency exchange, and a network for transfers, and the system is also called the Ripple Transaction Protocol (or Ripple Protocol). It is built on open-source Internet Protocol software, a distributed ledger, and a local currency called XRP. The goal of XRP, which was issued in 2012, is to enable secure, instantaneous, and very low-cost global financial transactions, with no claims after completion regarding disputed transactions.