What is the Difference Between Ripple and XRP?Now, there's a lot of information that could go into this article. However, I want to keep it as simple as possible. Why? Because this difference has confused people for months on end; why would I make it more confusing by throwing in difficult-to-understand terminology? If you're interested in the crypto sector, it's best to start with the basics, then work your way up. The difference between Ripple and XRP is really simple. Those aren't my words, either. Cory Johnson, Chief Market Strategist for Ripple said that recently in an interview. So if it's that simple, why are people still so confused? Well, sometimes, things just take a while longer than others to be understood. So yes, at the end of the day, there is a difference between Ripple and XRP. Here are 4 of them.
Ripple and XRP Just Have the Same NameTo put it simply, Ripple is a software company, while Ripple (XRP) is a digital asset that, as mentioned by Cory Johnson, "trades on its own by lots of people, in lots of places."
Ripple Didn't Create XRPThis is something that a lot of people are confused by. So, there is a general consensus that Ripple created XRP, the 3rd largest digital currency in terms of market cap -- but that's not true. XRP was created by Jed McCaleb, Arthur Britto, and Chris Larsen. Yes, Ripple does "happen to own a lot of XRP," but that was given to them, not created by them. For perspective, Ripple is reported as holding roughly "60% of all XRP in existence."
Ripple Has No Control Over Falling XRP PricesA lot of people ask the company about the prices of XRP on the market. In truth, they have no control over it. As a matter of fact, Cory Johnson said the following when asked to give his opinion on falling XRP prices:
"It's a market dynamic that I can't begin to understand."With that being said, Johnson did say that the Ripple team believes that if the company has success - which it appears to have - and other companies that use XRP have success, then they believe "it will start to create an intrinsic value in XRP that other cryptocurrencies or tokens don't have."