XRP is the native cryptocurrency of the Ripple network, designed to facilitate fast, low-cost cross-border payments. Unlike Bitcoin or Ethereum, which rely on energy-intensive mining, XRP uses a consensus mechanism that makes transactions almost instant and energy-efficient.
Ripple Labs, the company behind XRP, aims to replace traditional banking systems like SWIFT by enabling real-time money transfers between financial institutions. XRP is widely used for liquidity in international transactions due to its speed (3-5 seconds per transaction) and extremely low fees.
In recent years, XRP gained attention due to its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), which questioned whether XRP is a security. Despite legal hurdles, XRP remains one of the top cryptocurrencies by market cap and is backed by a strong use case in global finance.
Use case: Cross-border payments
Speed: ~3 seconds
Supply: 100 billion max supply
