XRP

XRP is a digital asset and cryptocurrency created by Ripple Labs Inc. It is designed primarily for facilitating fast and cost-effective cross-border payments and remittances. XRP acts as a bridge currency in Ripple’s payment protocol, allowing for the transfer of value between different fiat currencies. It aims to improve the efficiency of the financial system by providing liquidity and reducing the need for pre-funding in various currencies. XRP transactions are known for their low fees and rapid settlement times, typically occurring in seconds. The total supply of XRP is capped at 100 billion coins, and it operates on the XRP Ledger, a decentralized blockchain technology.