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Basic Facts About XRP Coin$XRP What Is XRP? XRP is the native digital asset of the XRP Ledger (XRPL), a decentralized, open-source blockchain designed for fast and efficient value transfer.
Created by Ripple Labs, XRP is optimized for payments and cross-border transactions, aiming to provide a quick, low-cost alternative to traditional banking systems. Key Features Speed: Transactions settle in 3–5 seconds, making it one of the fastest digital assets for payments.
Low Fees: Transaction costs are typically fractions of a cent, enabling cost-effective transfers and micropayments.
Scalability: The XRP Ledger can handle around 1,500 transactions per second, with the potential for more using payment channels.
Energy Efficiency: XRP does not use mining; instead, it relies on a federated consensus protocol, making it more environmentally friendly than proof-of-work coins like Bitcoin.
XRP is the native digital asset of the XRP Ledger (XRPL), an open-source blockchain launched in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto. Unlike many cryptocurrencies, XRP was pre-issued with a fixed maximum supply of 100 billion coins at genesis—no new XRP can ever be created. The asset is designed for fast, low-cost, and scalable payments, with typical transaction confirmations occurring in 3–5 seconds and fees amounting to a tiny fraction of an XRP, often less than a cent.
Key Facts about XRP Current Price: $2.93 USD
Market Cap: Approximately $164.9 billion
Circulating Supply: Around 59.1 billion XRP, about 59% of the maximum supply
All-Time High: $3.84 (January 2018)
Consensus Mechanism: Federated Consensus (not mining); anyone can run a validator node. Primary Uses
Bridge asset for cross-border payments and liquidity
Base currency for the XRPL’s decentralized exchange
On-Demand Liquidity (ODL): Used by Ripple to facilitate fast, currency-agnostic transfers between financial institutions