XRP is a cryptocurrency and native token of the open-source XRP Ledger, an open-source blockchain designed to enhance global financial transfers and exchange of multiple currencies. It is used by Ripple on its payment platform to facilitate transactions between financial institutions, businesses, and organizations. XRP is pre-mined and has a total supply of 100 billion tokens, making it more cost-effective, faster transaction times, and less energy-intensive than Bitcoin.

Founded in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto, XRP was created to aid its function and was initially marketed towards businesses rather than consumers. The original open-source project, Ripple Labs, was rebranded to Ripple Labs (now known as Ripple), which maintained its involvement in the project. The XRP Ledger Foundation was launched in 2020 and funded by donations from Ripple and other businesses.

XRP operates on the decentralized, open-source blockchain, the XRP Ledger (XRPL). It operates on a decentralized, open-source blockchain, with a maximum token supply of 100 billion tokens. XRP is described as a faster, cheaper, and more energy-efficient digital asset that can process transactions within seconds and consume less energy than some counterpart cryptocurrencies. About 55% of XRP tokens are in circulation.

XRP is used by Ripple as a settlement layer facilitating transactions occurring on Ripple Net, Ripple’s commercial platform. It has been traded as a cryptocurrency and is available on several exchanges, including futures, options, swap exchanges, spot exchanges, custodial exchanges, and non-custodial exchanges.

XRP’s position in the market depends on investor belief and hope, and it is important to discuss XRP with a financial advisor to determine its effect on your portfolio and whether it is safe to invest in it.