Following are some important things that we need to remember while working with Ripple:

• Ripple solves the previous inefficiencies through RippleNet. It uses blockchain technologies for reliable, efficient, and secure payments. Banks can integrate RippleNet into their system to make global payments efficient. 
• xCurrent is a software that sits between banks and RippleNet. It transforms traditional payment messaging formats into standard messages that are recognized by other users in RippleNet. 
• Ripple has built-in exchange features that allow traders to create offers to exchange currencies. This enables people to send cross-currency payments through the Ripple network.
• Ripple account holders can set deposit authorization on their accounts. This configuration will disable the account from receiving the regular payments. Now, the account will be able to receive payments only through checks, escrows, and payment channels.
• Money isn't put on hold on the sender's account while the check is created. Hence, if the sender doesn't have enough balance in their account, the recipient can't cash the check. However, like traditional checks, the recipient can try again to cash out until the check expires. 
• Payment channels are useful when a user wants to make a large volume of small payments to another user. These payments aren't immediately credited to the recipient's account. However, the recipient can claim the payments to their account at any time.
• Escrow is a feature in Ripple that users can use to send conditional payments. There're mainly two types of escrows, time-held and conditionally-held. Time-held escrows allow release payments after the specified time is passed. Conditionally-held escrows allow the release of payments when a cryptographic condition is fulfilled. However, Ripple's escrow doesn't support issued currencies; it only supports XRP.
• Ripple contains a functional decentralized exchange that allows users to trade issued currencies for XRP or each other.