What XRP is
XRP is the native cryptocurrency of the XRP Ledger. It pays network fees and moves value between people, companies and other currencies. You can see what it is worth now on the XRP price page.
There are at most 100 billion XRP. All of them were created when the network started, and none are mined. The smallest unit is called a drop, equal to 0.000001 XRP. Each transaction burns a small fee, so the total falls very slowly over time.
What the XRP Ledger is
The XRP Ledger, or XRPL, is a public, open-source blockchain that has been running since 2012. It was created by David Schwartz, Jed McCaleb and Arthur Britto. Anyone can read its data, hold an account or run a server, which is why this site can show every large movement and every wallet.
A transaction usually confirms in 3 to 5 seconds, and the normal fee is a tiny fraction of one XRP. You can see how the network is doing now on the XRP Ledger health page.
XRP, Ripple and the XRP Ledger are not the same
- XRP is the currency.
- The XRP Ledger is the network it runs on.
- Ripple is a company that uses this technology and holds a lot of XRP, partly locked in escrow.
Ripple does not control the XRP Ledger: network rules change through validator votes. XRP is not a stock either, although you can get exposure through the stock market with XRP ETFs or companies such as Evernorth.
How it works without mining
The XRP Ledger uses neither mining nor staking. Validators are servers that compare transactions and agree on which ones go into each new version of the ledger. Each server chooses which validators it trusts, and that agreement repeats every few seconds.
Rules change through amendments: a change activates when more than 80% of trusted validators support it for two weeks in a row.
What you can do on the XRP Ledger
- Payments: send XRP or other assets to any account.
- DEX: a decentralized exchange built into the network, with buy and sell orders.
- AMM: automated liquidity pools for swapping assets.
- Tokens and NFTs: create your own assets on the network.
- Escrow: lock XRP until a date or condition.
- Multisign: require several signatures to move an account.
Accounts, wallets and security
An XRP Ledger account has a public address starting with r and needs a minimum XRP reserve to exist. See how many accounts sit in each range in the XRP distribution or try the calculator. The XRP Time Machine shows the balance any account held on a past date, and who is accumulating XRP shows which whales and exchanges added or reduced it. You can also see how many new wallets open each day.
You can share your address, but never your secret key. Choose where to keep it on XRP wallets. You can also check your address on the quantum security page.
Where the XRP is
A large share sits on exchanges, which hold XRP for their customers, and another in escrow. The wallet ranking shows who holds the most, although a large wallet does not always belong to one person.