The XRP Ledger is a decentralized blockchain and digital payment protocol developed by Ripple. It serves as the underlying technology for the XRP cryptocurrency. The XRP Ledger is designed to facilitate fast, secure, and low-cost transactions, particularly for cross-border payments. It operates on a unique consensus algorithm called Federated Consensus, which relies on a network of trusted validators to confirm transactions.

The XRP Ledger offers scalability, with the capacity to handle a high volume of transactions per second, and boasts features such as low transaction fees and speedy settlement times. It provides a platform for various financial applications and has gained recognition as a competitive blockchain solution in the cryptocurrency ecosystem.