RIP is a distance-vector routing protocol that uses hop count as its routing metric. RIP versions include RIPv1 for IPv4, RIPv2 for classless routing and authentication with IPv4, and RIPng which extends RIPv2 to support IPv6 routing. Key attributes of RIP include using the Bellman-Ford algorithm, storing routes in tables with a maximum metric of 15 hops, and sending periodic full routing table updates every 30 seconds. RIP configuration involves enabling RIP on interfaces, modifying timers, and configuring authentication and route summarization.