Coming into existence in 2012, XRP is a cryptocurrency focused on facilitating payments worldwide, across borders. Payments-focused crypto assets often seek to improve the current landscape, which includes certain cumbersome aspects, such as the time it takes to settle transactions. The entity behind XRP, Ripple, calls the cryptocurrency’s blockchain the XRP Ledger, which reportedly boasts transaction times between three and five seconds.
Companies around the world work with Ripple’s XRP technology for their own use cases, and traders and investors also buy and sell the XRP cryptocurrency. XRP/USD and XRP/BTC are common trading pairs. The asset has a loyal following, known on social media as the “XRP Army.” Holding the XRP coin outside of online platforms and exchanges requires an XRP wallet.