$XRP

XRP is a digital cryptocurrency created by Ripple Labs in 2012, designed for fast, low-cost cross-border payments. Unlike Bitcoin, XRP operates on the XRP Ledger, a decentralized blockchain with a consensus protocol, enabling transactions to settle in 3-5 seconds. It’s used primarily by financial institutions for remittances and liquidity management, offering an alternative to traditional systems like SWIFT. Ripple holds a significant portion of XRP, raising centralization concerns. Despite regulatory challenges, notably a 2020 SEC lawsuit, XRP remains a top cryptocurrency by market cap. Its price is volatile, influenced by market trends and Ripple’s developments.