What is Ripple?
Ripple is a real-time gross settlement system, currency exchange and remittance network created by the Ripple company. Ripple has a crypto currency called ripples (XRP) that people mistakenly call Ripple, the token is used to settle fees on transactions in the Ripple Transaction Protocol.
What value do buyers of Ripple see in it?
Banks use it to and continue to implement it to assist with payments and transactions.
What are some criticisms of Ripple?
XRP was built into the Ripple protocol, so no mining was required for ripples to be created. The founders retained 20% of the originally created ripples, which skeptics claim is actually closer to 60% of the 100 billion pre-mined tokens. Jeb McCaleb (now with Stellar) holds 9 billion XRP personally for example. Ripple is also not decentralized, one of the key features bitcoin holders see in the value of the bitcoin protocol.