$XRP

XRP is a digital currency developed by Ripple Labs, designed to facilitate fast, low-cost international payments. Unlike most cryptocurrencies, XRP does not rely on mining; instead, it uses a consensus ledger to validate transactions. This makes it highly efficient, with transaction times of around 3-5 seconds. XRP serves as a bridge currency for financial institutions, enabling seamless cross-border transfers while minimizing costs. It is often criticized for being centralized due to Ripple Labs’ significant XRP holdings. Despite legal challenges, like the SEC lawsuit in the U.S., XRP remains one of the top cryptocurrencies by market capitalization, reflecting its global utility.