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When was XRP coin issued? Learn about the origin of XRP coin in one article

In 2013, Ripple Labs released 100 billion XRP tokens to the public, initially distributing them through the Ripple Trade platform.

Oct 05, 2024 at 08:54 am

1. XRP Coin - Origin and History

XRP, also known as Ripple, is a digital asset and a real-time gross settlement system (RTGS) developed by Ripple Labs, a San Francisco-based technology company. Here's a detailed timeline of XRP's origin and key milestones:

2. 2004: RipplePay Founded

The concept of Ripple was first envisioned by Jed McCaleb and Arthur Britto, who founded RipplePay in 2004. However, the company failed to gain traction.

3. 2012: Ripple Labs and XRP Creation

In 2012, Ripple Labs was formed by McCaleb, Britto, and Chris Larsen. The company developed and launched XRP, a digital currency designed to facilitate cross-border payments.

4. 2013: XRP Released to the Public

On June 5, 2013, Ripple Labs released 100 billion XRP tokens to the public. The tokens were initially distributed through the Ripple Trade platform.

5. 2014: RippleNet Launched

In 2014, Ripple Labs launched RippleNet, a global network of financial institutions and payment providers that use XRP to process cross-border payments.

6. 2015: MoneyGram Partnership

In 2015, Ripple Labs partnered with MoneyGram, a major international money transfer company, to use XRP in its cross-border payment services.

7. 2018: XRP's Market Cap Surges

In December 2017, XRP reached its all-time high market capitalization of over $138 billion, becoming the second-largest cryptocurrency after Bitcoin.

8. 2019: The SEC Lawsuit

In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs and its executives, alleging that XRP was sold as an unregistered security. This lawsuit has significantly impacted XRP's price and adoption.

9. Current Status

The SEC lawsuit is ongoing, and its outcome will likely have major implications for XRP. Ripple Labs continues to develop and promote the RippleNet network, although its growth has been slowed down by the lawsuit.

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