$XRP

$XRP refers to XRP, the native cryptocurrency of the XRP Ledger (XRPL), which is an open-source, decentralized blockchain designed for fast and cost-efficient cross-border transactions.

Key Features of XRP:

Fast Transactions: Settlement time is around 3-5 seconds.

Low Fees: Transaction costs are typically fractions of a cent.

Scalability: Can handle 1,500 transactions per second (TPS).

Energy Efficient: Uses a consensus protocol instead of proof-of-work (PoW), making it more eco-friendly than Bitcoin.

Liquidity Bridge: Often used as a bridge currency for fiat-to-fiat transactions in cross-border payments.

Use Cases of XRP:

Remittances & Payments: Used by financial institutions for faster and cheaper transactions.

Liquidity Provision: Helps banks and payment providers source liquidity for international transfers.

DeFi & Tokenization: Supports decentralized finance (DeFi) applications and asset tokenization on the XRPL.

Regulatory & Market Status:

XRP has faced legal scrutiny, particularly from the SEC lawsuit against Ripple regarding whether it should be classified as a security.

Despite legal battles, XRP remains one of the top cryptocurrencies by market cap.