#USElectronicsTariffs XRP is a digital asset and cryptocurrency developed by Ripple Labs to facilitate fast and low-cost international money transfers. Unlike traditional cryptocurrencies like Bitcoin, XRP uses a unique consensus algorithm rather than mining, enabling quicker transactions with minimal fees. It is primarily used by banks and financial institutions to improve cross-border payment systems. XRP's utility lies in acting as a bridge currency, allowing for the exchange of different fiat currencies efficiently. Despite facing legal challenges from the U.S. Securities and Exchange Commission (SEC), XRP remains one of the top cryptocurrencies by market capitalization and continues to play a significant role in fintech.