XRP is a form of digital currency or cryptocurrency that was specially made for very quick and very cheap international money transfers. Ripple Labs was the one who came up with this idea to enable banks and other financial institutions to transfer money internationally in a more efficient way. However, in contrast to most cryptocurrencies, XRP usually take only a few seconds to settle the transaction and use very little energy for that. XRP is based on the XRP Ledger which is a kind of distributed ledger that doesn't need the traditional mining process. Generally, this digital token is used for liquidity, paying cross-border, and also sending money home. Additionally, many individuals who buy and sell cryptocurrencies on various exchanges also buy and sell XRP in anticipation of making profits from the price movements and notability of it in the global payment system
