XRP
Bridging global finance with instant, low-cost payments.
What is XRP?
XRP is the native digital asset of the XRP Ledger (XRPL), an open-source blockchain designed for fast, low-cost cross-border payments. Created by Ripple Labs, XRP settles transactions in 3–5 seconds at a cost of fractions of a cent, making it a compelling alternative to the SWIFT banking network for international money transfers.
XRP Price Chart
All-time high: $3.84(January 2018)
Live chart data available with market data integration
The Story of XRP
The XRP Ledger was created in 2012 by Jed McCaleb, Arthur Britto, and David Schwartz — who then brought in Chris Larsen to co-found Ripple Labs. Unlike Bitcoin, XRP was pre-mined with 100 billion tokens created at genesis. Ripple retained a large portion and has been selling XRP over time to fund operations, a practice that has drawn regulatory scrutiny.
In December 2020, the SEC filed a lawsuit against Ripple Labs, alleging XRP was an unregistered security. The case became a landmark crypto legal battle. In July 2023, Judge Analisa Torres ruled that XRP sold on public exchanges was NOT a security — a partial victory for Ripple and the broader crypto industry. The case was settled in 2024.
How XRP Works
The XRP Ledger uses Federated Byzantine Agreement (FBA) — a consensus mechanism where a network of trusted validators agree on transaction ordering. Unlike Proof of Work or Proof of Stake, FBA requires no mining and consumes minimal energy. The ledger processes 1,500 transactions per second with 3–5 second finality.
Ripple's On-Demand Liquidity (ODL) product uses XRP as a bridge currency for cross-border payments — converting fiat to XRP, transferring it across borders in seconds, then converting back to local currency. This eliminates the need for pre-funded nostro accounts that tie up billions in capital at correspondent banks.
What XRP Is Used For
Cross-Border Payments
XRP settles international transfers in seconds at fractions of a cent vs. days and high fees via SWIFT.
Bridge Currency
Ripple's ODL uses XRP to bridge fiat currencies, eliminating pre-funded correspondent accounts.
Central Bank Digital Currencies
The XRPL's CBDC platform enables central banks to issue and manage digital currencies.
Tokenized Assets
The XRPL supports tokenization of real-world assets including real estate, commodities, and equities.