What is XRP (XRP)?
XRP is the native digital asset of the XRP Ledger, commonly abbreviated as XRPL. The XRP Ledger is a public, open-source blockchain launched in 2012 to support the transfer and exchange of value.
Unlike Bitcoin, the XRP Ledger does not use mining. Transactions are confirmed when independent validators reach agreement through the XRP Ledger Consensus Protocol. A transaction typically reaches a final result within three to five seconds.
XRP is used to pay transaction costs on the ledger and can also provide liquidity between different currencies or tokens. The XRP Ledger’s cross-currency payment system can use XRP as an intermediary asset when that offers a more efficient route between the sender’s and recipient’s currencies.
The market value of XRP is commonly expressed through the XRP/USD rate, which represents the value of one XRP in US dollars. This page uses live Binance market data to show the current XRP price, market capitalisation, trading volume, circulating supply and historical performance.
What Is the Difference Between XRP, Ripple and XRPL?
XRP, Ripple and the XRP Ledger are related, but they are not the same entity.
XRP is the digital asset. XRPL is the blockchain on which XRP operates. Ripple is a technology company that develops payment and digital-asset infrastructure and participates in the broader XRP ecosystem.
People sometimes search for the “Ripple price,” but XRP is the asset whose market price is traded and displayed. The XRP Ledger operates independently as an open-source network, rather than as Ripple’s private blockchain.
How Does XRP Work?
The XRP Ledger records balances and transactions in a shared sequence of ledger versions. Independent validators compare proposed transactions and agree on which valid transactions should be included in the next ledger.
This consensus process does not require proof-of-work mining or proof-of-stake validation. If sufficient agreement cannot be reached, the network is designed to pause rather than confirm conflicting transaction histories.
Each transaction requires a small XRP transaction cost. That XRP is permanently removed from circulation rather than being paid to a miner or validator. The cost also helps protect the network against spam and can increase temporarily when network demand is unusually high.
What Is XRP Used For?
XRP may be used for:
Transferring value over the XRP Ledger
Paying XRP Ledger transaction costs
Providing liquidity for cross-currency transactions
Acting as an intermediary between tokens when it provides an efficient payment route
Trading or transferring value between supported platforms
Participating in applications built on the XRP Ledger
The XRP Ledger also has native functionality for issued assets and a built-in decentralised exchange. However, not every XRPL transaction must use XRP as a bridge currency; the route depends on the assets involved and available liquidity.
The original supply was fixed at 100 billion XRP and the circulating supply at the time of writing is 62.53B XRP.
What Affects the Price of XRP?
The XRP price is determined by buying and selling activity across global markets. When demand grows relative to the XRP available for sale, the price may rise. When selling activity increases or demand weakens, the price may fall.
Factors that may affect the XRP/USD price include:
Trading volume and available liquidity
Broader cryptocurrency market movements
Regulatory and legal developments
Adoption and activity across the XRP Ledger
Demand from retail and institutional market participants
Changes in circulating supply
Technology and network developments
Macroeconomic conditions and investor sentiment
XRP is listed on Binance for trade and purchase. The live price of XRP is updated and available in real time on Binance.