Top 5 RSS Readers for Android

Sparse RSS

A simple, open source (MIT license), and very basic rss reader.

Google Reader
Follow your favorite sites, blogs, and more, all in one place. The Google Reader app syncs across all your devices, so your reading lists are always up to date.

RssDemon News & Podcast Reader
RssDemon is a powerful, clean and easy to use news and podcast reader. You subscribe to news, blogs, podcast feeds and read the feeds in the comfort of your mobile, with or without online access.

gReader (Google Reader | RSS)
This is an unofficial Google Reader client for Android. Read all your RSS/Feed news in one place with Google Reader, where keeping up with your favorite websites is as easy as checking your email.

Reader HD
This is just another Googe Reader client optimized for ICS/Honeycomb tablets and phones. The user interface is inspired by Gmail for Honeycomb/ICS and Google Reader web version. It is simple, clean, and clear but full featured.