XRP - Page 18

XRP is a digital asset and cryptocurrency created by Ripple Labs Inc. It is designed primarily for facilitating international money transfers and enabling instantaneous transactions with low fees. XRP operates on the XRP Ledger, which is a decentralized open-source blockchain technology that allows for fast and secure transfers of value. Unlike many cryptocurrencies that use mining as a mechanism for creating new coins, all XRP were pre-mined at its inception, with a fixed supply of 100 billion XRP available. XRP's primary goal is to improve the efficiency and speed of cross-border payments, making it an essential part of Ripple's broader mission to transform the global financial system by providing a faster, more cost-effective alternative to traditional banking methods.