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What is XRP?
Ripple’s XRP is one of the largest cryptocurrencies in the world.
XRP was created by Ripple Labs Inc., an international payment network that offers financial settlement solutions for banks, payment providers, digital asset exchanges and other organizations for its users to make a fast and secure transaction at their desired price without any hassle or delay. XRP is used for global payments.
XRP is unique in a few ways: it offers banks and other organizations the ability to instantly settle cross-border payments with no risk of settlement failure, unlike other cryptocurrencies which can take hours or days; secondly, XRP has a very low transaction fee compared to traditional methods like SWIFT or ACH; and thirdly, XRP is deflationary, meaning that over time there will be a decreasing number of coins in circulation.
Ripple Labs created 100 billion XRP at its inception with about 60% of those tokens held by the company itself. Ripple has been selling off its holdings gradually since 2013 and plans to release only one billion XRP per month to avoid what happened with Bitcoin when its price skyrocketed.
XRP is used for fast and low-cost global payments. XRP is the native asset of the Ripple network. It enables fast, frictionless and low-cost global payments. XRP has been designed for enterprise use and can handle up to 1500 transactions per second. This makes it one of the fastest digital assets in circulation today.
XRP is used for fast and low-cost global payments. XRP is the native asset of the Ripple network. It enables fast, frictionless and low-cost global payments. XRP has been designed for enterprise use and can handle up to 1500 transactions per second. This makes it one of the fastest digital assets in circulation today.
Ripple is a company that provides global financial settlement solutions to enable the world to exchange value like they do today with email. Ripple’s innovative technology makes it possible for banks and other institutions to settle cross-border payments in real time, with end-to-end transparency, and at lower costs than traditional methods.
XRP is not to be confused with Ripple the company. XRP is the digital asset used on the Ripple network and can be used by anyone to make fast, low-cost global payments. Ripple is the company that created the Ripple network and XRP.