XRP (Ripple)
Digital token for fast international banking transfers — Ripple Labs project.
XRP is a cryptocurrency created by Ripple Labs with the goal of speeding up and reducing the cost of international banking transfers.
Characteristics:
•3-5 seconds to transaction finality (Bitcoin ~60 min)
•Fees under $0.001
•XRP Ledger — its own blockchain, not using PoW or PoS but federated Byzantine agreement
•Partners: Santander, Bank of America, SBI Remit
SEC lawsuit (2020–2023): SEC sued Ripple claiming XRP was a security. Court ruled in 2023 that XRP is not a security when sold on exchanges — partial victory.
Criticisms: centralization, Ripple Labs holds ~50% of all XRP in escrow.