The gap between the best bid and the best ask. Cross it and you trade immediately; sit inside it and you wait.
The spread is the toll for being in a hurry. Cross it and you trade this instant at a worse price; sit inside it and you get a better price whenever somebody else runs out of patience first. A tight spread means plenty of people competing to take the other side; a wide one means almost nobody wants to, which is itself the most useful thing it tells you.
Every idea on this page is something you can see on a live tape rather than take on faith. The board draws real executed trades as an army: buyers advance from the left, sellers from the right, and the glowing line between them is the price. Here is how to read it.
Now go watch the word happen. The live board is free for XRP — no account, no sign-up.
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