Ripple XRP refers to both a digital payment protocol and a cryptocurrency that operates on the Ripple network. XRP is the native digital asset created to facilitate transactions on this platform. The Ripple network aims to enable fast, low-cost international money transfers by providing an efficient way to transfer value across borders using blockchain technology. XRP acts as a bridge currency, allowing for the seamless exchange of different fiat currencies and reducing the time and cost of cross-border transactions. Ripple Labs, the company behind the Ripple network, emphasizes its potential to disrupt traditional banking systems by enhancing liquidity and operational efficiency for financial institutions. The protocol supports various financial applications and provides a scalable solution for payment processing in real time.
XRP's Recent Surge and Future Prospects Ripple's cryptocurrency, XRP, experienced a remarkable surge of nearly 30% within five days, with prices reaching £2.67 ($3.25) by January 17th. The token not…