The cryptocurrency of the ripple network is XRP, and it has been a source of discussion within the crypto space. Although plagued with legal issues and regulatory observation, digital finance remains one of the most promising in the future.

What is XRP?

Ripple owns the cryptocurrency XRP, which is a digital asset used to facilitate for transactions. Running on the ripple network, an open-source decentralized blockchain designed to revolutionize international payments. Ripple, on the other hand, doesn’t rely on proof-of-work and can get billions of transactions per second done: it uses a consensus approach (obviously not mining) that keeps things fast and green.

XRP Controversy

XRP has been in a drawn-out legal fight with the U.S. Securities Exchange Commission (SEC) over allegations that Ripple sold unregistered securities across its network. This legal uncertainty has affected the price and trading volume of XRP. But this article does not invalidate the technology of XRP or how it may be used in the future.

Potential Use Cases for XRP

First and Foremost XRP has many use-cases that could benefit the financial industry as a whole, despite its regulatory challenges:

Cross-Border Payments: XRP enables fast, inexpensive cross-border payments and can deliver these transactions in seconds.

Remittances: The coin can be used to wire money out of the country with lower price and faster turn-arounds compared with traditional methods.

Tipbot: Micropayments, (XRP has extremely low fees ) can be used as a form of tip in various platforms.

Use case: Financial Inclusion — XRP can be used to provide financial services for the underbanked globally, especially in emerging economies

The Future of XRP

The future of XRP continues to stay something foggy primarily because court cases with The US Securities and Exchange continue. If the legal matters can be settled favorably, although