$XRP (Ripple) Overview
XRP is a digital asset created by Ripple Labs with the goal of making international money transfers faster, cheaper, and more efficient. Unlike many cryptocurrencies that focus mainly on being a store of value, XRP is designed to act as a bridge currency for cross-border payments.
Speed & Cost: XRP transactions settle in just a few seconds, with very low fees compared to traditional banking systems like SWIFT.
Supply: The maximum supply is 100 billion XRP, with a large portion held by Ripple to support network liquidity and development.
Use Case: XRP allows banks, payment providers, and financial institutions to move money across borders without needing multiple intermediary banks. This reduces costs and increases efficiency.
Adoption: Ripple has partnered with several global financial institutions to test or integrate its technology, though regulatory challenges—especially in the U.S.—have impacted its journey.
👉 In simple words: XRP is made for fast global money transfers, aiming to replace slow and costly banking methods.
