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A BRRip, very similar to a BDRip, is an XviD encode from a Blu-Ray release (for example, a full HD 1080p MKV). As the "rip" part of the name applies, the copy is generally not a 1:1 copy, but instead is usually re-encoded.
The most common multimedia container used for BDRips is the XviD container, which makes it playable on most standalone, notably the PS3 and Xbox 360.
The rips can range in size but are generally 2.10 GB.
BRRips are released by only a few "release groups" in the scene but are widely available via P2P and warez.