XRP is the native cryptocurrency of the Ripple network, designed primarily for fast and cost-effective cross-border payments. It operates on a blockchain technology called the XRP Ledger (XRPL), which is known for its efficiency and scalability.

Key Features of XRP:

1. Speed: XRP transactions settle in seconds, much faster than Bitcoin or Ethereum.

2. Low Fees: Transaction fees are minimal, making it ideal for micropayments and international money transfers.

3. Scalability: The XRP Ledger can handle up to 1,500 transactions per second.

4. Energy Efficient: Unlike Bitcoin, XRP doesn't rely on mining, which makes it environmentally friendly.

5. Liquidity Tool: XRP is often used as a bridge currency in cross-border transactions via Ripple's payment solutions, such as RippleNet.

Use Cases:

Banking and Financial Institutions: Ripple partners with banks and payment providers to use XRP for liquidity in cross-border payments.

Retail Transactions: XRP can be used as a medium of exchange, although this is less common.

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