XRP
XRP
$0.0000AUD
Market Cap
200.2B AUD
24H Trade Vol.
4.9B AUD
Total Supply
57.4B
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Price Changes
24H:
+0.00%
7D:
0.00%
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0.00000000 XRP
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What is XRP?

XRP is the native cryptocurrency of the XRP Ledger (XRPL), a decentralised blockchain designed for fast and low-cost international transactions. It facilitates transactions on the network, protects the ledger from spam, and acts as a bridge currency in the XRP Ledger’s decentralised exchange (DEX).

How does XRP work?

XRP operates on the XRP Ledger, a decentralised, layer-1 blockchain known for its reliability and efficiency. It uses a consensus protocol that confirms transactions in about 4 to 5 seconds, handling up to 1500 transactions per second. The consensus algorithm involves a Unique Node List (UNL) where validators check proposed transactions, ensuring agreement on the next state of the ledger. The XRP Ledger is also working to integrate smart contracts via an EVM sidechain.

What are the potential use cases for XRP?

XRP is primarily used for:

  • Fast and cost-effective cross-border payments.
  • Providing liquidity in the cryptocurrency market.
  • Central Bank Digital Currency (CBDC) services for managing digital currencies.
  • Tokenizing real-world assets on the XRPL.
  • Enabling stablecoin integration with projects like Ripple's RLUSD.

Real-world applications include banking for improved liquidity management, potential use in supply chain management, and partnerships with financial institutions and platforms like Archax for tokenizing assets.

What is the history of XRP?

XRP was created by David Schwartz, Jed McCaleb, and Arthur Britto, who launched the XRP Ledger in June 2012. Initially named NewCoin, the company was soon renamed Ripple. The XRP Ledger was integrated into the Ripple payment protocol to enable quick international money transfers. Over the years, XRP gained recognition with partnerships like American Express and became one of the top cryptocurrencies by market capitalisation. In 2020, the XRPL Foundation was established to promote the adoption of XRP's decentralised ledger. Through ongoing development, XRP has solidified its role in the global payments ecosystem by offering a sustainable and scalable alternative to Bitcoin.

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