XRP

XRP is a digital asset created by Ripple Labs that operates on the XRP Ledger, a decentralized, permissioned blockchain designed for high‑throughput, low‑latency transactions. The ledger uses a unique consensus protocol in which trusted validators agree on the order of transactions, eliminating mining and enabling near‑instant settlement. XRP’s primary purpose is to facilitate cross‑border payments and liquidity for financial institutions, allowing rapid, cost‑effective transfer of value between different fiat currencies. It is widely positioned as a bridge currency within the broader payments ecosystem, distinct from many cryptocurrencies that focus on smart contracts or decentralized finance applications.