Ripple, utilizing its native cryptocurrency XRP, is a blockchain-based payment protocol designed for fast, low-cost cross-border transactions. It aims to streamline international money transfers by enabling financial institutions to settle transactions in real-time with minimal fees. Ripple’s network operates independently of traditional banking systems, offering an alternative solution for global payments. XRP serves as a bridge currency in Ripple’s ecosystem, facilitating the exchange of value between different fiat currencies and cryptocurrencies. With its focus on speed, cost-efficiency, and interoperability, Ripple aims to revolutionize the way money moves around the world.
