Ripple is a new type of cryptocurrency, emerging after bitcoin saw a huge value drop recently.

According to Newsweek, “The team behind it seek to convert funds in any currency or cryptocurrency to another form of currency in mere seconds. This will mainly take place through institutions, and not via retail transactions like PayPal. It is the fourth-largest cryptocurrency in the world by market capital, which now stands at around $43 billion.”

On December 22, ripple hit over one dollar and got to $1.37.

Image via Dice Insights.