XRP is a digital currency created by Ripple Labs, used to facilitate financial transactions, especially fast and low-cost international transfers.

Here are the key points about XRP:

1. Primary purpose: XRP is designed to be a bridge currency between different currencies, helping banks and money transfer companies to conduct cross-border transactions quickly and at a lower cost.

2. Speed and fees: XRP transactions can be completed in seconds with almost zero fees compared to Bitcoin or Ethereum.

3. Number of coins: There are 100 billion XRP coins that were created in advance, and it cannot be mined like Bitcoin.

4. The network: A network called RippleNet is used, which is a payment network that allows banks and financial institutions to make instant and secure payments.

5. Legal issues: Ripple has been in a long legal dispute with the U.S. Securities and Exchange Commission (SEC) over the classification of XRP, but there have been recent positive developments.