$XRP XRP is the native cryptocurrency of the XRP Ledger, a decentralized, open-source blockchain primarily focused on facilitating fast and low-cost cross-border payments. Unlike Bitcoin's proof-of-work mechanism, XRP utilizes a unique consensus protocol for transaction validation, making it significantly more energy-efficient and faster, with transactions typically settling in seconds.

Ripple Labs, a technology company, is closely associated with XRP, having created the XRP Ledger. While XRP is decentralized, Ripple holds a significant amount of the cryptocurrency and plays a key role in its development and adoption, particularly in its enterprise solutions for financial institutions.

Recently, XRP has experienced increased attention due to developments in the long-running lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). A partial victory for Ripple in 2023, stating that programmatic sales of XRP did not constitute securities offerings, boosted market sentiment. The SEC's subsequent decision to drop its appeal further fueled optimism. This positive regulatory clarity has spurred interest in potential XRP Exchange Traded Funds (ETFs) and futures listings, suggesting a growing acceptance of XRP within traditional financial markets.