Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network. The Ripple system, which also goes by the Ripple Transaction Protocol (RTXP) or simply the Ripple protocol. It is built on an open source distributed internet protocol and has integrated a cryptocurrency called Ripples (XRP).
Ripple was first released in 2012 to enable instant and secure financial transactions from and to anywhere in the world.
Due to its versatility in completing transactions of various currencies, or anything of value, many financial institutions are already using the Ripple protocol in the financial systems, with others looking into integrating them within their systems.