XRP is the native cryptocurrency of the XRP Ledger, an open-source and decentralized blockchain created by Ripple Labs. It is often referred to as "Ripple" due to the company that created it, although it is important to distinguish between the cryptocurrency (XRP) and the company (Ripple). Currently, 1 XRP is between 2.20 and 2.40 USDT
Here are the key aspects about XRP:
Main Purpose:
* Facilitate cross-border payments: XRP was primarily designed to be an efficient and low-cost currency bridge for international payments. It aims to solve the problems of slowness, high cost, and inefficiency of the traditional banking system in transferring money across borders.
* On-demand liquidity: XRP can be used by financial institutions to obtain instant liquidity without the need to have pre-funded accounts in different currencies.