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Ripple was introduced in 2012 by Ripple Labs. This project was designed to address issues like high costs and the time-consuming nature of international transfers in traditional financial systems. Unlike many other cryptocurrencies that operate solely as a currency, Ripple offers a comprehensive platform that, in addition to the XRP token, provides tools and services for instant liquidity transfer and reduced transaction costs. Ripple has managed to offer a replacement for traditional banking systems with high speed and low costs. This feature has led to significant interest from major financial institutions, and its applications are rapidly expanding.