$XRP is the native cryptocurrency of the $XRP Ledger (XRPL), an open-source blockchain developed by Ripple Labs. It is primarily designed to facilitate fast, low-cost cross-border payments and remittances. Key features of $XRP include:

1. Speed: Transactions settle in 3–5 seconds, much faster than Bitcoin or Ethereum.

2. Scalability: Capable of handling 1,500 transactions per second (TPS).

3. Low Fees: Transaction costs are typically a fraction of a cent.

4. Use Case: Ripple uses XRP in its product, On-Demand Liquidity (ODL), which eliminates the need for pre-funded accounts in cross-border payments.

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