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Editorial reference

XRP XRP

Fresh · updated in last 10 min
Source · diadata · Sat, 01 Aug 2026 13:59:58 GMT
Price (USD)
$1.06
-0.24% 24h
24h volume
$192.02M

Overview

XRP is the native asset of the XRP Ledger, a payments-focused blockchain that launched in 2012. The ledger settles transactions in seconds using a federated consensus protocol rather than mining, and XRP is used for fees, bridging currency pairs and on-ledger tokenized value.

Origin & history

The XRP Ledger was created in 2012 by David Schwartz, Jed McCaleb and Arthur Britto. The company now known as Ripple was formed the same year and received a large XRP allocation from the founders to develop payment products around the ledger.

Founders & governance

Ledger co-creators David Schwartz, Jed McCaleb and Arthur Britto. Ripple, led by Brad Garlinghouse, is the largest commercial developer; the XRP Ledger Foundation supports independent open-source work and validator diversity.

How it works

The XRP Ledger uses the XRP Ledger Consensus Protocol, in which validators on a Unique Node List agree on transaction ordering every three to five seconds. There is no mining and no block subsidy; transaction fees are burned. The ledger includes native decentralized exchange, token issuance and, more recently, an automated market maker and programmability work.

Tokenomics & supply

A fixed 100 billion XRP were created at genesis, with no further issuance; fees are burned, so supply slowly declines. Ripple holds a large portion released through a public escrow that allows up to one billion XRP per month, with unused amounts returned to escrow — a frequent point of criticism regarding supply overhang.

Utility & use cases

XRP is used to pay ledger fees, to bridge illiquid currency pairs in cross-border payment flows, and as a settlement asset in Ripple's institutional payments products. The ledger also hosts issued stablecoins and tokenized assets.

Ecosystem

Software includes rippled, the reference server, plus Clio for API queries. Sidechains and an EVM-compatible sidechain extend functionality, and applications include the native DEX, AMM pools and issued-token infrastructure.

Wallets & custody

Custody options include self-custody wallets, hardware wallets and regulated custodians. Accounts require a small XRP reserve to remain active on the ledger.

Regulatory notes

XRP was the subject of a long-running U.S. Securities and Exchange Commission lawsuit against Ripple. A 2023 district court ruling found that programmatic exchange sales did not constitute investment contract offers while certain institutional sales did, followed by penalties and appeals. Treatment differs by jurisdiction. Nothing on this page is legal, tax, or investment advice.

Milestones

  1. 2012
    Ledger launch
    The XRP Ledger goes live with 100 billion XRP created at genesis.
  2. 2017
    Escrow established
    Ripple locks the majority of its XRP holdings in a public on-ledger escrow.
  3. 2020
    SEC lawsuit filed
    The SEC sues Ripple over XRP sales.
  4. 2023
    Partial summary judgment
    A court distinguishes programmatic from institutional sales.
  5. 2024
    Automated market maker
    An AMM amendment activates on the XRP Ledger; penalties and appeals continue in the SEC case.

FAQs

Is XRP mined?
No. All 100 billion XRP existed at genesis; validators reach consensus without block rewards, and fees are burned.
What did the SEC case decide?
A 2023 ruling distinguished programmatic exchange sales, which the court found were not investment contract offers, from certain institutional sales, which it found were.
What is the escrow?
A public on-ledger escrow that releases up to one billion XRP monthly to Ripple, with unspent amounts re-escrowed.
Is Ripple the same as XRP?
No. Ripple is a company; the XRP Ledger is open-source software and XRP is its native asset.

Official links

Primary sources

This page is editorial reference material. Nothing on this page is investment, legal, or tax advice. Last reviewed 8/1/2026.