Ripple vs Xoom: What are the differences?

<In this analysis, we will highlight the key differences between Ripple and Xoom>

1. Transaction Speed: Ripple's XRP Ledger allows for near-instant transactions, typically settling in 3-5 seconds, whereas Xoom's traditional bank transfer may take 1-5 business days to complete.
2. Target Audience: Ripple primarily caters to financial institutions and banks for large-scale international transactions, whereas Xoom is designed for individuals and small businesses looking to send money internationally.
3. Technology Used: Ripple utilizes its native cryptocurrency XRP for transactions, leveraging blockchain technology for secure and fast transactions, whereas Xoom relies on traditional banking networks and currencies for its money transfer services.
4. Transaction Fees: Ripple's XRP transactions are known for their low fees, which can be negligible compared to traditional cross-border payment fees, while Xoom charges a fee for its services that may vary depending on the destination and amount sent.
5. Regulatory Compliance: Ripple has faced scrutiny and legal challenges due to its decentralized nature and association with cryptocurrencies, whereas Xoom operates under strict regulatory guidelines set by financial authorities to ensure compliance and security of transactions.
6. Global Reach: Ripple's network and partnerships extend globally, connecting various entities across borders, whereas Xoom's services may be limited in certain regions or have restrictions in place based on local regulations.

In Summary, the key differences between Ripple and Xoom lie in transaction speed, target audience, technology used, transaction fees, regulatory compliance, and global reach.