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## What is XRP? What is it used for?
XRP is a cryptocurrency developed by Ripple Labs and its main purpose is to speed up cross-border payments between banks and financial institutions and reduce costs. XRP is designed to improve slow and expensive money transfers in traditional banking systems. In this section, we will provide information about the basic features and usage areas of XRP.
### XRP Features:
- Fast Transactions: XRP transactions are completed within seconds.
- Low Costs: Transaction fees are extremely low.
- Cross-Border Payments: Can be used as a bridge currency in transactions between different currencies.
## Ripple Project Leaders' Successes
The vision and experience of its leaders have played a major role in Ripple’s success. In this section, we will provide information about Ripple’s prominent leaders and their contributions.
### Brad Garlinghouse (CEO)
Ripple CEO Brad Garlinghouse was previously a Senior Vice President at Yahoo!, where he built Ripple into a global financial innovation leader.
### David Schwartz (CTO)
David Schwartz, Ripple’s chief architect, played a critical role in the creation of the XRP Ledger and is one of the figures who shaped Ripple’s technical vision.
## Potential of XRP
The potential of XRP lies in its ability to fundamentally change the global financial system. In this section, you will find information about the potential future of XRP.
- Use in Banking: As banks adopt Ripple technology, XRP could become one of the main tools for international money transfers.
- Impact of Regulations: Regulations could significantly impact the future success of XRP.
## XRP's Early Problems and Latest Situation
XRP is facing serious challenges due to the ongoing litigation between the US Securities and Exchange Commission (SEC) and Ripple Labs. In this section, we will examine the impact of this legal process on XRP and the current status.
### SEC Case
- Litigation: In December 2020, the SEC filed a lawsuit against Ripple and designated XRP as an unregistered security.
- July 2023 Decision: The court ruled that retail sales of XRP are not securities, but institutional sales can be considered securities.
### Market Reactions and Regulatory Risk
- Price Fluctuations: The price of XRP remained volatile throughout the litigation process.
- Regulations: Regulations in the US make the future of XRP uncertain. Ripple’s activities outside the US are not problematic, but uncertainties in the US market limit XRP’s acceptance.
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This article format provides a comprehensive overview of what XRP is, the achievements of its leaders, its potential, and the challenges it faces. $XRP
If xrp closes above 0.6180, the first target will be around $0.915-0.937 if it passes the 0.72-0.74 band. It is still under pressure, they cannot hold on to positive news, but if btc breaks down, the support level is $0.54-0.48-0.42.