What is Ripple and What is XRP?
Ripple is known as a type of cryptocurrency also known as XRP, and a type of money that is completely virtual, but it is also a payment platform, allowing for fast and cheap transactions. Ripple was first released in 2012, and is decentralised so is not controlled by banks or government.
XRP is Ripple's currency, and its main purpose is to represent the transfer of currency/value across the Ripple Network. Whether you want to transfer USD to EUR, or Bitcoin to JPY, XRP allows for this.
Unlike Bitcoin and Ethereum, Ripple uses its own technology, which is known as the Ripple protocol consensus algorithm (RPCA).