$XRP XRP is a digital currency created by Ripple Labs Inc. It is designed for fast, low-cost cross-border payments and financial transactions. Unlike Bitcoin, which relies on mining, XRP transactions are validated through a consensus protocol, making them much faster and more energy-efficient.

XRP is primarily used within the RippleNet payment network, where banks and financial institutions utilize it for liquidity and remittances. Its transaction speed is just a few seconds, with minimal fees, making it ideal for global money transfers. However, XRP has faced legal challenges, particularly from the U.S. SEC, which has impacted its adoption and price.