Definition
XRP is a digital asset created for use on the XRP Ledger, a public blockchain-like network designed for transferring value. It functions as the native token of this network and is used as a unit of account and medium of exchange within that system. XRP exists only in digital form and is recorded and tracked on the XRP Ledger’s distributed database.
In Simple Terms
XRP is a type of cryptocurrency that lives on the XRP Ledger network. It is the main token of that network and is used as a digital form of value there. XRP does not have a physical form and only exists as entries on the XRP Ledger’s shared record.
Context and Usage
XRP is commonly discussed in the context of cryptocurrencies and blockchain-based value transfer. It appears on digital asset exchanges, in market listings, and in conversations comparing different native tokens of public networks. XRP is also referenced when distinguishing among various digital assets associated with major blockchain ecosystems and their underlying ledgers.