$XRP XRP is a digital currency developed by Ripple Labs to facilitate fast, low-cost international money transfers. Unlike Bitcoin, XRP uses a consensus ledger and validator nodes instead of mining, making transactions quicker and more energy-efficient. Ripple’s network, RippleNet, allows banks and financial institutions to settle cross-border payments instantly and with minimal fees. XRP serves as a bridge currency in these transactions, enhancing liquidity and reducing the need for pre-funded accounts. Its utility and partnerships with major banks make it a key player in the world of blockchain-based finance. However, XRP also faces regulatory scrutiny, especially in the United States.