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XRP is a cryptocurrency based on blockchain technology, developed in 2012. It is a centralized digital currency managed by a company called Ripple Labs. The purpose of XRP is to facilitate fast and low-cost cross-border transactions. It can also be used as an intermediary currency for buying and selling other cryptocurrencies. The main difference between XRP and other cryptocurrencies, such as Bitcoin and Ethereum, is its level of decentralization, as the XRP network is controlled by a centralized entity—Ripple Labs.
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