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XRP is a digital currency associated with Ripple Labs, aiming to facilitate international money transfers quickly and efficiently. Launched in 2012, it differs from other cryptocurrencies like Bitcoin, as it does not rely on mining but uses a special consensus protocol known as the Ripple Protocol Consensus Algorithm. XRP is characterized by transaction speed, with transfers taking only a few seconds and low fees compared to traditional banking systems. The currency is primarily used by financial institutions and banks to enhance cross-border transfer processes and has been adopted by several banks worldwide. Despite the technical advantages it offers, XRP has faced legal challenges, most notably the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple, which affected its price and market value. Nevertheless, XRP remains one of the leading cryptocurrencies in the market in terms of value and liquidity.
