XRP
Market cap: $179.86 billion.
Current price: $3.13.
Unlike other currencies and tokens with general purposes, "XRP" focuses on creating payment solutions for banks and financial institutions; it addresses many issues with competing systems like "SWIFT" for international settlements, and instead of taking hours or days to complete transfers, "XRP" allows such settlements to be completed in seconds.
Ripple was built on the idea of a "distributed ledger network" that requires the participation of different parties to validate transactions, rather than a single centralized authority, making transactions easier worldwide, and transfer fees are much cheaper than other currencies like Bitcoin.
Unlike other cryptocurrencies, "XRP" transfers are virtually instantaneous and do not require typical confirmation time, according to Forbes magazine.
Pros
Much faster than its competitors like SWIFT.
Expanding access to banking services and international settlements by lowering barriers to use.
Cons
The network is highly centralized as all transactions are confirmed by a united group of financial institutions.
The company is engaged in a legal battle with the U.S. Securities and Exchange Commission, which casts a shadow over it in the cryptocurrency market.