$XRP Name: XRP

Issuer: Ripple Labs Inc.

Purpose: Designed for fast, low-cost international money transfers

Transaction Time: ~3-5 seconds

Consensus Mechanism: Ripple Protocol Consensus Algorithm (not proof-of-work)

Use Case: Used by financial institutions for cross-border payments via RippleNet

Price (Approx.): Around $0.53 – $0.56 (varies with market)

Recent Update: XRP has gained attention again due to Ripple’s continued global banking partnerships and ongoing legal clarity after partial court wins against the SEC in 2023–24.