$XRP XRP is a digital asset and cryptocurrency created by Ripple Labs in 2012. Unlike many cryptocurrencies, XRP is designed to facilitate fast and low-cost cross-border payments rather than serve as a store of value or traditional currency. The XRP Ledger, a decentralized blockchain, enables secure and efficient transactions, allowing users to transfer money across borders almost instantly, with minimal fees. XRP is often used by financial institutions, including banks, as a bridge currency to settle international transactions. Ripple, the company behind XRP, has faced regulatory scrutiny, particularly from the U.S. Securities and Exchange Commission (SEC), which has impacted XRP's adoption in some regions.