What Was XRP’s Original Name? Exploring the History and Evolution of Ripple’s Cryptocurrency

The Origins of XRP and Its Original Name

XRP, one of the top cryptocurrencies by market capitalization, wasn’t always known by its current name. Originally, the digital asset and its underlying technology were part of a project called Ripple. Launched in 2012 by Chris Larsen and Jed McCaleb, the system aimed to revolutionize cross-border payments using blockchain technology. However, the name “Ripple” initially referred to both the payment protocol (Ripple Protocol) and its native currency.

Before XRP became a household name in crypto circles, it was informally called “Ripple credits” or “Ripple coins” by early adopters. This dual naming caused confusion, as the terms were often used interchangeably. The project’s parent company, initially named OpenCoin, rebranded to Ripple Labs in 2013 to align with its growing ecosystem. Despite this shift, the cryptocurrency itself retained close ties to the Ripple brand until a strategic rebranding effort in 2018.

Key Milestones in XRP’s Early History

• 2004: Ryan Fugger develops RipplePay, a precursor to the modern Ripple network.
• 2012: OpenCoin (founded by Larsen and McCaleb) launches the XRP Ledger and the XRP cryptocurrency.
• 2013: OpenCoin rebrands to Ripple Labs, focusing on enterprise blockchain solutions.
• 2018: Ripple Labs clarifies that XRP operates independently of its business products.

Why Did Ripple Rebrand to XRP?

The shift from “Ripple” to “XRP” wasn’t just a name change—it was a strategic move to distinguish the cryptocurrency from Ripple Labs’ broader suite of financial products. As the company expanded its offerings like RippleNet and On-Demand Liquidity (ODL), the need to separate the digital asset (XRP) from the company’s brand became critical. This decision aimed to:

• Avoid confusion between Ripple’s enterprise services and the decentralized XRP Ledger
• Position XRP as a neutral asset for global liquidity
• Clarify regulatory distinctions between the company and the cryptocurrency

By 2018, Ripple Labs began emphasizing “XRP” in its communications, cementing its identity as a standalone digital asset. The XRP Ledger, an open-source blockchain, continued to operate independently, even as Ripple leveraged XRP for cross-border settlement solutions.

The Impact of XRP’s Name Change on Its Market Presence

Rebranding to XRP helped the cryptocurrency carve out a unique identity in the crowded crypto market. While Ripple Labs faced regulatory scrutiny in later years, XRP’s distinct branding allowed it to maintain a loyal community of developers and investors. Today, XRP is recognized for:

• Fast transaction speeds (3-5 seconds per settlement)
• Low fees (fractions of a cent per transaction)
• Energy-efficient consensus mechanism (no mining required)

Despite controversies, XRP remains a top 10 cryptocurrency, with its early name change playing a pivotal role in establishing its independence and scalability.

FAQ About XRP’s Original Name

1. What was XRP originally called?

XRP was initially known as “Ripple” or “Ripple credits” before its official rebranding in 2018.

2. Why did Ripple change its name to XRP?

The rebrand aimed to differentiate the cryptocurrency from Ripple Labs’ payment solutions and reduce regulatory ambiguity.

3. Are XRP and Ripple the same thing?

No. Ripple (the company) develops payment technologies, while XRP is the native cryptocurrency of the XRP Ledger.

4. What is XRP’s role in Ripple’s ecosystem?

Ripple uses XRP in its On-Demand Liquidity product to facilitate instant cross-border transactions.

5. Is the name “Ripple” still used for the cryptocurrency?

No. The term “XRP” has been the official designation since 2018, though some legacy references may persist.