$XRP $BTC
XRP is the native cryptocurrency of the XRP Ledger (XRPL), an open-source, decentralized blockchain launched in 2012 by Ripple Labs founders David Schwartz, Jed McCaleb, and Arthur Britto. It was created to enable fast, cost-effective, and energy-efficient global financial transactions, particularly targeting businesses and financial institutions rather than consumers.
Key details about XRP:
Total supply is fixed at 100 billion tokens, all pre-mined.
About 55 billion XRP are locked in escrow by Ripple to provide supply predictability.
XRP transactions settle in seconds with very low fees, making it efficient for cross-border payments.
Unlike Bitcoin, XRP is not mined; tokens were issued at launch.
Ripple, the company, uses XRP in its payment platform but does not own the XRP Ledger or the cryptocurrency itself.
XRP is used as a bridge currency in RippleNet to facilitate currency exchanges and liquidity for financial institutions.
Currently, XRP trades around $2.18 USD with a market cap over $122 billion, and it is widely available on many crypto exchanges.
In summary, XRP is a pre-mined, fast, and low-cost digital asset designed to improve global payments, especially for banks and businesses, running on the decentralized XRP Ledger blockchain