What is XRP ?

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[NEWS BLOG]: What is XRP ?

XRP is a token used for representing the transfer of value across the Ripple Network. The main purpose of XRP is to be a mediator for other - both cryptocurrencies and fiat - exchanges. The best way to describe XRP is a ‘Joker’. Not the creepy Batman enemy, but the card that can be any other card. If you want to exchange dollars to euro, it can be dollar with dollars and euro with euros to minimize the commission. As highlighted above, the transaction cost on Ripple is $0.00001.

An interesting fact: after the transaction the amount of $0.00001 ‘disappears’ from the platform and can’t be replenished. So, with every transaction the world becomes $0.00001 poorer. It is designed that way to prevent spammers attacks.


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