XRP (XRP)
- Official Website: ripple.com
- Definition: XRP is a digital asset designed for fast and cost-effective cross-border payments, created by Ripple Labs.
- Category: Cryptocurrency, Token.
- What It Is: A bridge currency for facilitating international money transfers and remittances.
- Function: Enables real-time, low-cost transactions between financial institutions.
- Analogy: Think of XRP as a universal translator for money. It helps different currencies communicate and transfer value quickly.
- Pros: Fast transactions, low fees, partnerships with financial institutions.
- Cons: Centralization concerns, ongoing SEC lawsuit.
- Controversies: Legal battle with the SEC over whether XRP is a security.
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This page was last updated on January 28, 2025.
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