XRP History: Ripple’s Origins Actually Precede Bitcoin

The focus keyword XRP takes center stage in a recently resurfaced discussion, as a document suggests that the origin of Ripple predates Bitcoin. This revelation, shared by XRP advocate SMOQE, reveals compelling insights into cryptocurrency history and reignites the conversation around Ripple’s foundational legacy.

The document showcases a 2014 email exchange among various industry participants, including technology journalist Reutzel Bailey. In this thread, Bailey made a noteworthy point that the foundational concept behind Ripple was formulated as early as 2004, well before the release of Bitcoin’s whitepaper in 2008 by Satoshi Nakamoto.

Bailey credited Ryan Fugger, who launched an early version of Ripple—then known as RipplePay—in 2004. RipplePay was designed to allow individuals to move value without intermediaries like banks. Bailey emphasized that while this platform was innovative, it wasn’t initially intended to function as a cryptocurrency. It wasn’t until tech entrepreneur Chris Larsen joined the project years later that Ripple evolved its crypto-focused identity. According to Bailey, Larsen was driven by the heightened attention surrounding Bitcoin and aimed to place Ripple within that emerging digital currency narrative:

“I think Larsen pushed this [Ripple] as a cryptocurrency to catch attention because the platform itself was not really about cryptocurrency at all,” Bailey wrote.

Nonetheless, another key participant in the email exchange, Jeffrey Cliff, argued against the idea that Ripple copied Bitcoin’s model. Cliff stated that Ripple was not merely a “math-based currency” mimicking Bitcoin’s success; instead, it had its own independent roots and objectives. His claim that “Ripple predates Bitcoin” supports the notion that Ripple’s foundational ideas were indeed ahead of their time.

While Fugger’s RipplePay set the initial framework, it wasn’t until 2011 that a significant transformation began. That year, key figures like Jed McCaleb, Arthur Britto, and David Schwartz began developing what they envisioned as a better, more efficient alternative to Bitcoin. This led to the creation of the XRP Ledger (XRPL), Ripple’s native blockchain, which aimed to address Bitcoin’s limitations—particularly its heavy reliance on proof-of-work (PoW) consensus.

To move the project forward, McCaleb engaged Fugger and received permission to transition the legacy RipplePay system into a more modern crypto infrastructure. This led to the establishment of a new venture in 2012 initially named NewCoin. The founders later rebranded the entity twice: first to OpenCoin, and eventually to Ripple, reflecting its current name.

One of the most impactful moves at Ripple’s formation was the donation of 80 billion XRP by the founding team to the newly established company. Of this, Jed McCaleb received a substantial portion—9.5 billion XRP. After McCaleb’s departure from Ripple, he co-founded Stellar and agreed to a scheduled sell-off of his XRP holdings. His final XRP balance was entirely liquidated by 2022, concluding over eight years of gradual sales.

It’s crucial to note that Ripple, as a company, may trace its conceptual roots back to 2004—well before Bitcoin made its appearance. However, XRP, Ripple’s native token, launched in 2012, four years after Bitcoin’s debut. This timeline reaffirms that while Ripple’s foundational idea may be older, Bitcoin holds the title of being the world’s first cryptocurrency in practical execution and public availability.

Related: Expert Advice: Sell XRP If You’re Confused

Today, the legacy of Ripple continues through strategic innovations around blockchain-based financial systems. Chris Larsen remains actively involved with the company and currently serves as Ripple’s chairman. Ripple and its XRP ecosystem have distinguished themselves by focusing on real-time cross-border remittances, emphasizing scalability and low-cost transactions—positioning the network as a forward-looking solution in global finance.