What is Ripple?
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., an American technology company. It was created to facilitate secure, instant, and nearly free global financial transactions of any size with no chargebacks. According to the company website, transactions on the network take between three and five seconds to settle. XRP, the native cryptocurrency of the network, is at the center of a developing legal battle between the SEC and Ripple.