Ripple (XRP) was launched in 2012 by Ripple Labs. In 2004, Ryan Fugger, the original founder of the technology company, introduced RipplePay, a product that is similar to today's blockchain projects, years before Bitcoin was founded. The goal of Ripple is to serve as a kind of marketplace that exchanges fiat and cryptocurrencies with each other. Especially currencies that are normally difficult to compare will be made exchangeable. This is done by exchanging any currency into XRP tokens and then liquidating them into another currency. Since December 2020, Ripple has been in a legal battle with the U.S. Securities and Exchange Commission (SEC).