FTX Holdings, Cryptocurrency
XRP is a cryptocurrency created by the company Ripple.
It is designed to facilitate fast and secure cross-border payments. XRP is the native token of the Ripple network, and it can be used to facilitate transactions between two parties in different currencies. The main purpose of XRP is to act as a bridge currency, allowing for quick and efficient transfers between different currencies.
XRP also has a number of other uses, such as providing liquidity for exchanges and acting as a store of value. XRP transactions are processed on the Ripple network, which is powered by a distributed ledger technology called the Ripple Protocol Consensus Algorithm (RPCA). This technology allows for near-instantaneous settlement times and low transaction fees.
Additionally, XRP has been adopted by several major financial institutions, including American Express and Santander Bank, as part of their payment processing solutions.