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XRP is the native cryptocurrency of the XRP Ledger, a decentralized blockchain focused on facilitating fast, low-cost cross-border payments. Launched in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto, with Ripple Labs (now Ripple) founded shortly after by them and Chris Larsen to promote its use. Unlike Bitcoin, XRP was pre-mined with a total supply of 100 billion tokens.
XRP aims to be a bridge currency for financial institutions, enabling efficient and cost-effective international money transfers. Its transactions settle in just 3-5 seconds with minimal fees. The XRP Ledger also supports various other applications, including tokenization of assets and decentralized finance (DeFi). Several banks and payment providers utilize RippleNet, which leverages XRP for cross-border payments. As of today, April 27, 2025, 1 XRP is equivalent to approximately 265.38 Bangladeshi Taka.
