David Schwartz, technical director of Ripple, explained the origin of the name of the native blockchain token XRP Ledger (XRP).

At first, he recalled the procedure for the formation of tickers for national currencies, where another letter is added to the two-letter symbol of the issuing country. For example, the US dollar currency code — USD — comes from a combination of US (United States) and D (dollar).

In the context of assets that do not belong to any country, Schwartz stressed that the first letter in the code should begin with X. According to this rule, a ticker for gold XAU (Aurum — gold in Latin) was created.

"Some people use BTC to refer to bitcoin, but those who value standards prefer XBT," added Ripple's CTO.

According to him, from the very beginning of the development of the native XRP Ledger token, it was simply called "ripples", hence the abbreviation XRP.

Earlier, Schwartz noted the unsuccessful idea of issuing "robingood" tokens based on the XLS-39 amendment approved by the community. This amendment involves the redistribution of assets from the 10% of the largest holders to the 90% of the most low-income at random intervals.

Recall that in February, Ripple researchers predicted "serious changes" in the structure of the crypto market in favor of institutional demand.