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:

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

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

Total coins: There are 100 billion XRP coins that were created in advance and cannot be mined like Bitcoin.

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

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.

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