The Hatch Agency, which is the PR firm that represents Ripple, explained the difference between XRP and Ripple stating the two are completely different. Ripple itself recently tweeted about the clarification on the company official profile referring to the source and confirming that “the digital asset XRP and the company Ripple are distinctly different”.
As Ripple was growing as a company and its token of XRP was increasing in value over the years, in most of the articles and publications of different websites and authors about the company the two brands were presented and discussed as functionally indistinct. However as we look deeper today already a clear line between XRP and Ripple can be seen.
The recent message by the company referred to the website where the key differences between the two brands were described. Five main FAQ are presented on the page covering the main aspects where the differences can be easily spotted. The published five main points included:
- What are Ripple and XRP?
While Ripple is a “technology company that provides efficient solutions for sending money globally”, XRP is an “independent digital asset with open source blockchain behind it”.
- How are Ripple and XRP related?
Ripple uses XRP in its products while having no control over the digital asset or the technology. Ripple currently owns 60 billion XRP. At the same time XRP Ledger “cannot be owned by any single entity as it exists independent of any one person or business, including Ripple”.
- Who controls the performance of Ripple and XRP?
Board of founders and employees of Ripple are in charge of the success of the company while the community who uses XRP and the technology in general control XRP’s performance in the market.
- Who uses Ripple and XRP?
The users of Ripple are mainly financial institutions while XRP can be used by anyone.
- Who owns Ripple and XRP?
Ripple is owned by the founders, investors and the employees who hold stock in the company while XRP can be owned by anyone.
Meanwhile currently Ripple obviously prefers to be approached as a company which is making and selling software, however over the year the company has been trading a good name of the XRP token in the market. The company website- www.ripple.com/xrp hosts the site for XRP as well where articles and updates about the token can be found too.