XRP is a digital currency developed by Ripple Labs, designed primarily for fast and low-cost international money transfers. Unlike Bitcoin or Ethereum, XRP doesn’t rely on traditional mining. Instead, it uses a consensus ledger and trusted validators for transaction verification, making it more energy-efficient. XRP aims to bridge the gap between traditional financial systems and blockchain technology by enabling real-time cross-border payments for banks and financial institutions. It has high transaction speed and low fees, which make it ideal for global remittances. However, XRP has faced legal challenges, notably from the U.S. SEC, affecting its adoption and market stability.
