$XRP

What Is XRP?

XRP is a cryptocurrency and native token of XRP Ledger, an open-source blockchain. The cryptocurrency and blockchain are designed to enhance global financial transfers and the exchange of several currencies. Investors also use it to store value and profit from price fluctuations.

Key Takeaways

XRP is a cryptocurrency and the native token of the open-source XRP Ledger, founded in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto.

XRP is pre-mined and has a total supply of 100 billion tokens.

XRP is more cost-effective, has faster transaction times, and is less energy-intensive than Bitcoin.

XRP, the cryptocurrency, is used but not owned by Ripple, the cryptocurrency services company.

First, 80 billion XRP tokens were allocated to Ripple (the company). To ensure a stable supply of XRP, 55 billion XRP were locked in an escrow account.

Then, Ripple co-founders and the core team received the remaining 20 billion XRP.

The XRP in escrow was scheduled to be released at a rate of 1 billion per month, with the original release schedule targeting 55 months.

Fast Fact

About 55% of XRP tokens are in circulation.

The Bottom Line

XRP remains one of the top cryptocurrencies in terms of market cap. It can be used just like any other digital currency for transactions or as an investment. If you choose to invest, however, be sure that you don’t invest more than you can afford to lose.

$$XRP