#BinanceEarnYieldArena XRP is a digital asset and cryptocurrency created by Ripple Labs for fast, low-cost cross-border payments. Unlike Bitcoin, which relies on mining, XRP transactions are verified through a unique consensus algorithm. It serves as a bridge currency in Ripple's payment network, enabling efficient money transfers between different fiat currencies. XRP boasts transaction speeds of around three to five seconds, significantly faster than traditional banking systems. Its decentralized ledger, the XRP Ledger (XRPL), supports smart contracts and tokenization. While facing regulatory scrutiny, particularly from the U.S. SEC, XRP remains one of the largest cryptocurrencies by market capitalization.