Ripple
XRP is a digital asset designed for fast, low-cost international money transfers on the Ripple network, widely used for cross-border payments and remittances.
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- Ripple
- Asset Type: xrp
XRP is a large-cap asset that represents the blockchain's native currency or monetary fee used to execute transactions on the network.
Ripple has no dependencies.
XRP has a fixed supply. XRP is the native token of Ripple, used for fast and low-cost international transactions.
What is XRP?
XRP is a cryptocurrency launched in 2012 by Ripple Labs, designed to facilitate fast, low-cost international payments and remittances. It operates on the XRP Ledger (XRPL), a decentralized blockchain that aims to bridge the gap between traditional banking systems and digital assets. XRP is primarily used as a bridge currency for cross-border transactions within Ripple’s On-Demand Liquidity (ODL) system, enabling real-time settlement between fiat currencies.
How does XRP work?
XRP operates on the XRP Ledger, which uses a unique consensus mechanism instead of energy-intensive proof-of-work or proof-of-stake. This allows XRP to process transactions in under five seconds with minimal fees, making it highly efficient for global payment systems. Ripple partners with banks and financial institutions to integrate XRP into their payment flows, reducing costs and improving transaction speeds. XRP also has a capped total supply of 100 billion tokens, with a portion allocated for institutional incentives and ecosystem development.
How many XRP tokens are in circulation?
Out of the total supply of 100 billion XRP, approximately 53 billion tokens are currently in circulation. Ripple Labs holds a significant portion of the remaining supply, which is released periodically from an escrow account to fund development and partnerships. This centralized control has sparked debates about decentralization but also allows for strategic distribution of tokens to drive adoption.