Ripple (XRP) is a digital payment protocol and cryptocurrency launched in 2012, designed to enable fast, low-cost international money transfers. Unlike Bitcoin or Ethereum, Ripple focuses on facilitating cross-border payments for banks and financial institutions, using its consensus-based XRP Ledger rather than Proof-of-Work mining. Transactions on the network settle in seconds and carry minimal fees, making XRP a practical choice for liquidity and remittances.
The XRP token serves as a bridge currency within the Ripple network, helping to facilitate transfers between different fiat currencies. Ripple has partnered with numerous banks and payment providers globally to streamline international settlements. While XRP has faced regulatory scrutiny, including a high-profile lawsuit by the U.S. Securities and Exchange Commission (SEC), it remains one of the most widely used and traded cryptocurrencies for cross-border financial operations.
