XRP

XRP is a digital asset and cryptocurrency that operates on the XRP Ledger, a decentralized blockchain technology aimed at facilitating fast and low-cost international money transfers. Created by Ripple Labs in 2012, XRP is designed to act as a bridge currency in cross-border transactions, allowing for instant settlement between different currencies without the need for traditional banking intermediaries. Its consensus mechanism enables quick transaction confirmations, making it suitable for high-volume payments. XRP aims to improve the efficiency of the global payment system, reduce transaction costs, and provide liquidity for financial institutions.