Ripple (XRP) MCQs

50 Score: 0 Attempted: 0/50

1. : Who founded Ripple Labs, the company behind XRP?
(A) Chris Larsen and Jed McCaleb
(B) Vitalik Buterin
(C) Charlie Lee
(D) Gavin Andresen

2. : What is the primary purpose of Ripple (XRP)?
(A) Smart contracts
(B) Fast cross-border payments
(C) NFT trading
(D) Mining rewards

3. : When was Ripple first launched?
(A) 2008
(B) 2012
(C) 2015
(D) 2017

4. : What consensus mechanism does Ripple use?
(A) Proof of Work
(B) Proof of Stake
(C) Ripple Protocol Consensus Algorithm (RPCA)
(D) Delegated Proof of Stake

5. : What is the maximum supply of XRP?
(A) 21 million
(B) 100 million
(C) 100 billion
(D) Unlimited

6. : Ripple’s native digital asset is called?
(A) RPL
(B) XRP
(C) RXP
(D) XPL

7. : Ripple was initially called?
(A) OpenCoin
(B) BitRipple
(C) XRipple
(D) CryptoPay

8. : XRP Ledger operates as a?
(A) Public, decentralized blockchain
(B) Centralized bank database
(C) Private company ledger
(D) Sidechain of Ethereum

9. : XRP transactions usually settle in?
(A) 10 minutes
(B) 2 hours
(C) 3–5 seconds
(D) 1 day

10. : Ripple’s primary focus is on?
(A) Banks and financial institutions
(B) NFT marketplaces
(C) Gaming companies
(D) Social media platforms

11. : Which company developed RippleNet?
(A) Ripple Labs
(B) Coinbase
(C) ConsenSys
(D) Binance

12. : XRP is not mined because?
(A) It uses a pre-mined supply
(B) It is proof of stake
(C) It is centralized
(D) It requires only fiat

13. : Ripple’s system of liquidity management is called?
(A) xRapid
(B) xVia
(C) xCurrent
(D) RipplePay

14. : Which U.S. authority filed a lawsuit against Ripple in 2020?
(A) SEC
(B) FBI
(C) Federal Reserve
(D) DOJ

15. : XRP Ledger was launched in which year?
(A) 2011
(B) 2012
(C) 2014
(D) 2015

16. : Ripple’s token XRP is mainly used as a?
(A) Governance token
(B) Bridge currency
(C) Staking coin
(D) Meme coin

17. : Ripple’s official payment network is called?
(A) RippleChain
(B) RippleNet
(C) XRP Pay
(D) RippleX

18. : XRP transactions are recorded on?
(A) Ethereum blockchain
(B) Ripple Ledger
(C) Bitcoin blockchain
(D) Hyperledger

19. : XRP is often criticized for being?
(A) Too volatile
(B) Too centralized
(C) Too slow
(D) Too anonymous

20. : Who is the current CEO of Ripple Labs (2023)?
(A) Chris Larsen
(B) Brad Garlinghouse
(C) Jed McCaleb
(D) Brian Armstrong

21. : Ripple’s xCurrent product is mainly used for?
(A) Transaction settlement
(B) Mining blocks
(C) NFT storage
(D) Cloud hosting

22. : Ripple’s xVia is designed for?
(A) Payment integration for businesses
(B) Mining hardware
(C) Smart contracts
(D) Token swaps

23. : Which major financial institutions have tested Ripple’s technology?
(A) Santander and American Express
(B) Facebook and Google
(C) Tesla and Amazon
(D) Twitter and Netflix

24. : What is Ripple’s vision?
(A) To replace banks
(B) To enable internet of value
(C) To create NFTs
(D) To power metaverse

25. : Ripple’s transaction fees are generally?
(A) Higher than Bitcoin
(B) Lower than Bitcoin
(C) Equal to Ethereum
(D) Based on mining difficulty

26. : What unique feature does XRP have compared to Bitcoin?
(A) Instant settlement
(B) Smart contracts
(C) Decentralized apps
(D) NFT support

27. : Jed McCaleb, Ripple’s co-founder, later founded?
(A) Ethereum
(B) Stellar (XLM)
(C) Cardano
(D) Polkadot

28. : Ripple’s XRP Ledger supports how many transactions per second (approx.)?
(A) 7
(B) 1,500
(C) 100
(D) 10,000

29. : What does ODL in Ripple stand for?
(A) On-Demand Liquidity
(B) Open Digital Ledger
(C) Official Digital Layer
(D) On-Chain Data Link

30. : Ripple was created to compete with which traditional system?
(A) SWIFT
(B) Visa
(C) Mastercard
(D) PayPal

31. : Ripple differs from Bitcoin because it does not rely on?
(A) Consensus
(B) Blockchain
(C) Mining
(D) Nodes

32. : The smallest unit of XRP is called?
(A) Drop
(B) CentXRP
(C) MiniXRP
(D) MicroCoin

33. : Ripple’s lawsuit with SEC primarily questioned whether XRP is a?
(A) Currency
(B) Commodity
(C) Security
(D) Utility token

34. : RippleNet uses XRP primarily as?
(A) Settlement asset
(B) Staking token
(C) Voting coin
(D) Mining incentive

35. : Ripple’s ODL helps in?
(A) Real-time cross-border settlements
(B) Mining rewards
(C) NFT minting
(D) Token governance

36. : Ripple’s XRP Ledger consumes?
(A) High energy like Bitcoin
(B) Very low energy
(C) Only renewable energy
(D) Unlimited resources

37. : Ripple’s XRP is traded on?
(A) Only RippleNet
(B) Major crypto exchanges
(C) Only Binance
(D) Private networks only

38. : What does XRPL stand for?
(A) XRP Ledger
(B) XRP Licensing
(C) XRP Legal
(D) XRP Loans

39. : Ripple is headquartered in?
(A) New York
(B) San Francisco
(C) London
(D) Singapore

40. : Ripple’s bridge currency function is to?
(A) Replace USD
(B) Connect different fiat currencies
(C) Create NFTs
(D) Mine Bitcoin

41. : Which Ripple product was discontinued and merged into ODL?
(A) xVia
(B) xRapid
(C) RipplePay
(D) xCurrent

42. : Ripple’s transaction fees are paid in?
(A) BTC
(B) ETH
(C) XRP
(D) USD

43. : Ripple’s XRPL supports issuing?
(A) Stablecoins and tokens
(B) NFTs only
(C) DeFi loans
(D) Smart contracts

44. : RippleNet provides banks with?
(A) Instant liquidity
(B) Cloud services
(C) Mining equipment
(D) Privacy coins

45. : Ripple’s primary competitors are?
(A) SWIFT and Stellar
(B) Ethereum and Solana
(C) Bitcoin and Litecoin
(D) Dogecoin and Shiba Inu

46. : XRP Ledger closes a block approximately every?
(A) 10 minutes
(B) 4 seconds
(C) 1 minute
(D) 15 seconds

47. : Which famous company invested in Ripple in 2016?
(A) Google Ventures
(B) Amazon
(C) Microsoft
(D) IBM

48. : RippleNet is mainly used by?
(A) Retail crypto traders
(B) Banks and payment providers
(C) NFT artists
(D) Miners

49. : Ripple’s transaction speed makes it suitable for?
(A) Cross-border remittances
(B) Proof-of-Stake mining
(C) Token staking
(D) Long-term holding only

50. : XRP is often ranked among the top cryptocurrencies by?
(A) Market capitalization
(B) Mining hash power
(C) NFT adoption
(D) Number of smart contracts

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