XRP XRP price

XRP is the native currency of the XRP Ledger, an open-source blockchain launched in 2012 and built for fast, low-cost payments. Transactions typically settle in three to five seconds and cost a fraction of a cent, which makes XRP attractive for moving money across borders. Ripple, the US company most closely associated with XRP, uses it in its payment products for banks and payment providers as a bridge between currencies.

The XRP Ledger does not use mining. Instead, a network of independent validators agrees on the order of transactions through a consensus protocol, which keeps energy use very low. The ledger has a built-in decentralized exchange, supports issued tokens, and now also offers features such as automated market makers and an EVM-compatible sidechain.

All 100 billion XRP were created at launch, and a large share is held by Ripple in escrow and released on a schedule. A long-running legal case with the US Securities and Exchange Commission shaped XRP's history, and its resolution brought renewed attention from exchanges and investment products.