$XRP

XRP is a digital asset created by Ripple Labs to facilitate fast and cost-efficient cross-border payments. Unlike many cryptocurrencies that rely on mining, XRP uses a consensus protocol among validators to confirm transactions, making it much faster and more energy-efficient than Bitcoin or Ethereum. Transactions settle in about three to five seconds, and fees are extremely low, often less than a fraction of a cent.

XRP plays a key role in Ripple’s network, known as RippleNet, which connects banks, payment providers, and financial institutions to move money globally with reduced friction. XRP can act as a bridge currency between two different fiat currencies, solving liquidity issues in foreign exchange markets.

The token has faced regulatory challenges, particularly in the United States, where the SEC filed a lawsuit claiming XRP is a security. However, parts of the case have leaned in Ripple’s favor, bringing optimism to the XRP community. Despite controversy, XRP remains one of the most recognized and utilized digital assets in the world.