XRP is the digital currency behind the XRP Ledger, a decentralized blockchain designed for fast and affordable global money transfers. It's built to make cross-border payments smoother and cheaper, especially for the financial services industry.
XRP runs on the XRP Ledger, which uses a unique consensus process—not Proof of Work or Proof of Stake—to validate transactions. This makes transactions lightning-fast and super affordable. Unlike some cryptocurrencies, XRP can’t be mined because all tokens were created when the network launched.
XRP shines in cross-border payments, offering a faster and cheaper alternative to traditional banking systems. It’s also used for trading and as an exchange medium for other cryptocurrencies. XRP has strong ties to the financial industry, with partnerships involving major players like Santander and Kotak Mahindra Bank.