XRP is a digital currency created by Ripple Labs in 2012 with the aim of facilitating international financial transactions quickly and efficiently. Unlike other currencies such as Bitcoin, XRP does not rely on mining; instead, 100 billion units were issued at once. The Ripple network uses a consensus protocol to verify transactions across a group of independent servers, allowing transactions to be completed in just a few seconds at very low fees. XRP is primarily used as a bridge for transferring funds between different currencies, reducing the need to rely on costly and slow traditional banking systems. Ripple targets financial institutions and banks, aiming to make global transfers more efficient. Despite this, XRP faces legal challenges, most notably the lawsuit with the U.S. Securities and Exchange Commission (SEC), which has impacted its market position. XRP is considered one of the well-known digital currencies and is among the largest currencies by market capitalization, supported by a strong community that bets on its widespread future use in the global financial infrastructure.