I know it is some combination of sha256 and ripemd160 that is used on the public key component to obtain the Ripple wallet address, but what is the specific algorithm?

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The process of going from a Ripple secret to a specific ECDSA private/public key (which you didn't ask about but I included it here anyway) is documented on the Account Family wiki page.

From a ECDSA public key, {X,Y}, you do ripemd160(sha256(CompressPoint(X,Y)). That's then encoded in base58 (using the Ripple alphabet/dictionary).

You can also look at the rippled implementation or a Go implementation.

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