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What is XRP?

XRP is the native asset of the XRP Ledger (XRPL), an open-source ledger launched in June 2012. David Schwartz, Jed McCaleb and Arthur Britto developed the ledger. In 2012, Jed McCaleb, Arthur Britto and Chris Larsen founded the company now known as Ripple. The public ledger, the XRP asset and Ripple the company are distinct.

All 100 billion XRP were created at the ledger’s inception. Transaction fees reduce the remaining supply; escrow releases redistribute existing XRP rather than create new tokens. The standard minimum network fee under normal load is 10 drops, or 0.00001 XRP. Actual fees depend on load and transaction type, and their dollar value varies with the XRP price.

The ledger supports a built-in order-book exchange, automated market makers and NFTs. The XRPL EVM Sidechain launched on June 30, 2025 as a separate blockchain connected to XRPL through a bridge. Its Ethereum-compatible contracts run on that sidechain, not directly on the XRP Ledger.

The new XRPL Foundation was incorporated in France in 2024, with the transition from the previous entity announced in 2025. Ripple is one contributor to the wider ecosystem. In the SEC case, the July 2023 ruling distinguished between the sales examined by the court; it did not settle every secondary-market XRP transaction. The appeals were dismissed in August 2025, while the 2024 civil penalty and injunction remained in effect.

Key Features of XRP

• Ledger settlement: XRPL normally validates a new ledger within a few seconds. A transaction is final once included in a validated ledger. This network timing is separate from an exchange crediting a deposit or a payment provider delivering fiat; operational delays and network conditions can change the total time.
• Network transaction fees: Under normal network load, the standard minimum transaction cost is 10 drops, or 0.00001 XRP. The required fee varies with load and transaction type; its dollar value changes with the XRP price. The network fee is destroyed when the transaction enters a validated ledger, rather than paid to validators.
• Built-in Decentralized Exchange: The XRP Ledger has had a built-in order-book decentralized exchange since 2012. Users can trade XRP and supported issued tokens. Native automated market makers add liquidity pools that interact with the order book; prices and execution still depend on available liquidity.
• Token issuance on XRPL: XRPL supports issuing tokens such as stablecoins and representations of other assets. Depending on the token model and settings, issuers can use controls such as holder authorization and freezing. These technical controls do not by themselves establish legal compliance or guarantee backing and redemption.
• On-Demand Liquidity Bridge: Ripple's On-Demand Liquidity documentation describes payment flows that use XRP and convert it into the recipient's fiat currency. Ripple also offers fiat and stablecoin payment services. Using a Ripple product therefore does not by itself establish that a payment uses XRP.
• XLS-20 NFTs and Sidechains: XLS-20 provides native NFT support on the XRP Ledger, including issuer-set transfer fees. The XRPL EVM Sidechain launched its mainnet on June 30, 2025. It is a separate EVM-compatible blockchain connected to XRPL through a bridge, rather than an EVM running on the main XRP Ledger.

XRP Use Cases

• Cross-Border Remittances: Payment providers can use XRP as an intermediate asset in a cross-border transfer. Conversion, liquidity, compliance checks and the final local payout remain separate parts of the service; a fast XRPL transfer does not guarantee an equally fast bank credit.
• Corporate treasury transfers: Ripple's ODL documentation includes transfers between a company's accounts in different countries, converting XRP into destination currency before a bank withdrawal. Availability, conversion costs and bank processing depend on the chosen service and corridor.
• Stablecoin payments on XRPL: Stablecoins such as RLUSD can circulate on XRPL, while XRP pays the network transaction cost. The stablecoin is a separate issued asset: its backing, redemption terms and issuer risks differ from XRP's market price and supply.
• Tokenized Real-World Assets: The XRP Ledger supports issuing and transferring tokenized assets. In June 2024, Ripple and Archax announced an expanded collaboration to bring tokenized real-world assets onto XRPL.
• NFT Marketplaces: XRPL supports creating and trading NFTs through native ledger operations. Issuers can set a transfer fee for applicable NFT sales. An NFT's ownership record does not automatically confer copyright or guarantee the value, availability or storage of linked content.
• Small and recurring payments: Payment channels support small, repeated XRP payments using signed claims that can be settled on the ledger later. This can support metered services and streaming payments, but applications must handle channel funding, settlement and fees; negligible cost is not guaranteed for every payment size.

XRP Tokenomics

Total Supply

The XRP Ledger began in 2012 with 100 billion XRP. XRP paid as transaction costs is destroyed, so the amount still in existence decreases from that initial supply. Circulating supply is a separate measure.

Circulating

Circulating-supply figures need a date and a provider definition. Releasing XRP from escrow moves existing tokens; it does not create new XRP. Do not treat the original supply, remaining total supply and circulating supply as interchangeable.

Utility

XRP pays XRPL transaction costs and satisfies applicable account and object reserve requirements. It can be sent directly, traded on the ledger's exchange and used as an intermediate asset in currency conversion. These uses are distinct from holding an issuer's token such as RLUSD.

Emission

All XRP was created when the ledger began; escrow releases do not mint more. In December 2017, Ripple locked 55 billion XRP in escrows designed to make up to 1 billion available monthly and announced that unused amounts would enter new escrows. Unlocking, selling and increasing circulating supply are different events. Network transaction costs included in validated ledgers destroy existing XRP.

XRP Historical Price Performance

These historical prices are in US dollars and retain each provider's own series. CoinGecko dates the all-time high to July 18, 2025 and records a low of $0.00268621 on May 22, 2014. CoinMarketCap instead dates its high to January 4, 2018 and records a low of $0.002802 on July 7, 2014. The figures were checked on October 2, 2026; compare like-for-like sources rather than combining their extremes. Legal milestones include the transaction-specific July 2023 ruling and the dismissal of both appeals in August 2025; the 2024 penalty and injunction remain in effect. None of these events guarantees future returns.

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