XRP is the native token of the XRP Ledger, a blockchain purpose-built for institutional cross-border payments. Its creator, Ripple Labs, has spent years in a high-profile legal battle with the US SEC, which alleged that XRP was sold as an unregistered security. A pivotal 2023 court ruling determined that XRP sold on public secondary markets did not qualify as a security - a significant partial victory that gave the broader crypto industry hope for clearer legal frameworks. Ripple's core product is real: several large financial institutions have used RippleNet for international settlements.
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