Explore my investment portfolio combination. Follow to see how I invest! XRP is a cryptocurrency developed by Ripple Labs, with the main goal of improving speed and cost in global financial transactions. Unlike many other cryptocurrencies such as Bitcoin or Ethereum, XRP does not rely on a mining mechanism, but uses a unique consensus algorithm called the Ripple Protocol Consensus Algorithm (RPCA). This allows XRP to process transactions within a few seconds at extremely low costs, making it suitable for cross-border money transfers.

In recent years, Ripple – the company behind XRP – has signed many partnership agreements with major banks and financial institutions, especially in countries like the UAE, Japan, and Brazil. These relationships help XRP be practically applied in the traditional financial system, increasing its legitimacy and long-term value.

However, XRP has also faced legal challenges, notably the lawsuit with the U.S. Securities and Exchange Commission (SEC). Although part of the lawsuit has been resolved positively for Ripple, this event still left an impact on investor confidence.