$XRP is a cryptocurrency developed by **Ripple Labs Inc.**, designed to facilitate fast, low-cost international money transfers. Unlike Bitcoin, which operates on a decentralized proof-of-work system, XRP runs on the **XRP Ledger (XRPL)**, a consensus-based blockchain that enables transactions in seconds with minimal fees.

### **Key Features of XRP:**

1. **Speed & Cost:** XRP transactions settle in **3-5 seconds** with fees as low as **fractions of a cent**, making it more efficient than traditional banking systems and even many cryptocurrencies.

2. **Scalability:** The XRPL can handle **1,500 transactions per second (TPS)**, significantly higher than Bitcoin (7 TPS) and Ethereum (30 TPS).

3. **Decentralized & Secure:** While Ripple Labs plays a key role, the XRP Ledger is operated by independent validators globally, ensuring decentralization and security.

4. **Use Cases:** XRP is used for **cross-border payments, liquidity sourcing, and remittances**. Banks and financial institutions, such as Santander and SBI Holdings, have tested or integrated Ripple’s technology.

5. **Regulatory Challenges:** XRP has faced legal scrutiny, particularly from the **U.S. Securities and Exchange Commission (SEC)**, which alleged it was an unregistered security. However, court rulings in 2023 clarified that XRP is **not a security when traded on exchanges**, boosting investor confidence.

### **Future of XRP:**

With growing adoption in financial markets and ongoing partnerships, XRP remains a significant player in the crypto space, particularly in global payments and banking innovation.