RIP stands for Routing Internet Protocol, while OSPF stands for Open Shortest Path First. The routing internet protocol was developed in the 1980s. It was created to manage transmissions in small or medium-sized networks. Any router that uses RIP as it's protocol first requests for the routing tables, and these tables are later merged and updated in the router's tablespace.
Traditional RIP's supported only specific internet protocols, which has slightly changed over time. However, the OSPF is capable of finding the shortest path to go ahead with the data transfers. It is much more convenient than RIP.
The RIP has a restriction of 15 hops to carry out the transmission, and it isn't easy to accomplish this due to the more extensive networks. OSPF uses a link-state routing algorithm, and it is part of a group known as Interior Gateway Protocols. OSPF is generally used in large enterprise networks.