$XRP is a type of cryptocurrency developed by Ripple Labs, launched in 2012, aimed at optimizing global financial transactions. With a transaction processing speed of just a few seconds and low costs, XRP is designed to help banks and financial institutions transfer money across borders more efficiently than traditional systems like SWIFT. This currency operates on the XRP Ledger, a decentralized platform. However, XRP also faces controversy, particularly relating to legal issues with the SEC in the U.S., affecting its value and investor confidence.