What are XRP used for?

Could you please elaborate on the utilization of XRP? I'm particularly interested in understanding the various applications and functionalities it offers within the realm of cryptocurrency and finance. As a professional in this field, your insights would be greatly appreciated. Is XRP primarily used for payments, as a medium of exchange, or does it serve other purposes such as facilitating cross-border transactions or serving as a bridge currency? Additionally, how does it fit into the larger cryptocurrency ecosystem and what are its unique advantages compared to other cryptocurrencies? Thank you for your time and expertise in addressing these questions.