$XRP XRP is a cryptocurrency developed by Ripple Labs to facilitate fast and low-cost international transfers. Unlike many cryptocurrencies, it does not rely on mining, which allows for greater energy efficiency. XRP is primarily used by financial institutions to streamline cross-border payments, reducing wait times and fees. Its network, RippleNet, enables almost instant settlements. Although it has faced legal challenges with the SEC in the U.S., it has maintained a strong presence in the market. XRP aims to become a bridge between traditional and digital currencies, driving the adoption of blockchain technologies in the global financial system.