$XRP XRP was designed to facilitate fast and cheap transactions between financial institutions, distinguishing itself from Bitcoin by not relying on mining. Its blockchain, the XRP Ledger, uses a consensus of validating nodes instead of Proof of Work. Since its launch, XRP has been adopted by banks and remittance companies for cross-border settlements.

Over the years, Ripple (the company) has faced controversies, especially a lawsuit from the SEC in 2020 for alleged unregistered securities sales. Despite this, XRP remains one of the most important cryptocurrencies by market capitalization.