$USDC XRP is the native cryptocurrency of the XRP Ledger (XRPL), a distributed ledger designed for fast and low-cost payments. Unlike Bitcoin, XRP was pre-mined, with a total of 100 billion tokens created at the outset. The majority was allocated to Ripple Labs, which manages part of the supply through escrow accounts for market stability.
Its main utility is to facilitate cross-border payments for financial institutions, acting as a "bridge" between different currencies. The XRPL uses a unique consensus mechanism (neither proof of work nor stake) for nearly instantaneous transactions (3-5 seconds) and minimal fees, with a small amount of XRP burned with each transaction to prevent spam and slightly reduce supply over time.
