For quite some time now, digital currency enthusiasts, investors, and traders have continually referred to the digital currency “XRP” as Ripple. It was acceptable to do so during December and November last year, but it is crucial that you know the difference between them as the Ripple firm is facing three lawsuits as well as the Securities and Exchange Commission.
XRP Is Not Ripple – Ripple Is Not XRP
XRP isn’t Ripple, and Ripple isn’t XRP – a clear message from the PR company that represents Ripple (the tech firm) – The Hatch Agency. According to a tweet by the tech firm – Ripple, XRP is an “independent digital currency that trades on its own.”
While Ripple may now be known as a software selling firm, it has traded on the good name of XRP for a very long time. The tech firm – Ripple, became one of the most valuable startup firms in the world on the basis of creating a digital currency that is labeled the third largest digital currency in the world by market cap.
What Is XRP since It Is Not Ripple?
The chief marketing strategist of Ripple appeared on “The Street” and said that “XRP is an independent digital currency that trades on its own and it is owned by a lot of people all over the world. He said Ripple just happens to own lots of XRP tokens – they own a lot of shares, cash, and computer – but the firm is called Ripple and they market software.
As pointed out by Business Insider, both the firm and the digital currency were founded by the same group of people and the firm owns over 50 percent of the digital currency. Yet, the firm – Ripple – tries to emphasize that they are not the same, and the performance of XRP can’t affect that of Ripple.