Virtual currencies offer users convenience and the freedom to carry out the electronic transfer of funds from anywhere in the world using a personal computer or smartphone.
Bitcoin is  the most popular currency of the world, was created in 2009 by an individual operating under the pseudonym Satoshi Nakamoto. Bitcoin is an open source crypto-currency. Bitcoin operates as a decentralised peer-to-peer cash transfer system that can be traded online or exchanged for goods and services with various smaller vendors.
Ripple is a similar peer-to-peer system which, unlike Bitcoin, is not tied to a single online currency. Ripple allows users to send and receive money in dollars, euros, yen or bitcoins in exchange for the system’s currency XRP, or ‘ripples’. However, Ripple, unlike Bitcoin, does not suffer from exorbitantly long transaction times; dealings within the Ripple community take more seconds to be completed. Ripple’s main difference from Bitcoin is that it’s not just a single online currency; its allows you to send and receive money in dollars, euros, yen or, even Bitcoin.  Go through this blog for better understand http://blog.tradefast.me/ripple-xrp-emerging-virtual-currency-giant/