Overview
XRP is the currency of the XRP Ledger (XRPL), a blockchain launched in 2012 by David Schwartz, Jed McCaleb and Arthur Britto. The company they founded, now called Ripple, builds payment products for banks and businesses and is the largest holder of XRP.
XRP is one of the five largest cryptocurrencies, worth about $83 billion, and has one of the most loyal communities in crypto (“the XRP Army”).
How it works
- The XRPL doesn’t use mining or classic staking. Instead, a set of trusted validators agree on each new ledger every 3–5 seconds.
- Transactions cost a tiny fraction of a cent, and a small amount of XRP is burned with each one.
- The ledger has a built-in decentralized exchange, tokens, and newer features such as an automated market maker.
Ripple’s idea is that XRP can act as a bridge currency: a bank could convert dollars to XRP and XRP to pesos in seconds, instead of holding money in accounts abroad. In practice, many Ripple clients use its payment network without using XRP.
The SEC case and ETFs
In December 2020, the US SEC sued Ripple, claiming XRP sales were unregistered securities offerings. In July 2023, a judge ruled that XRP sold on public exchanges was not a security. The case finally ended in 2025, with Ripple paying a $125 million penalty.
With the legal cloud gone, US spot XRP ETFs launched in November 2025. By August 2026, they had attracted about $1.66 billion in net inflows.
RLUSD and Ripple’s expansion
Ripple launched its own dollar stablecoin, RLUSD, in December 2024. By August 2026 it had over $2.3 billion in circulation, more than $1 billion of it on the XRP Ledger. Ripple has also bought companies such as the prime broker Hidden Road (now Ripple Prime), expanding into services for institutions.
The XRP token
| XRP at a glance | |
|---|---|
| Maximum supply | 100 billion XRP (all created at launch) |
| In circulation (Oct 2026) | about 63 billion |
| Price (29 Oct 2026) | about $1.31 |
| All-time high | about $3.65 (July 2025) |
| Market cap | about $83 billion (#5) |
All 100 billion XRP were created at launch. Ripple holds a large amount, much of it in escrow that releases up to 1 billion XRP each month; unused XRP returns to escrow. Ripple’s regular sales are a long-standing criticism.
Risks
- Company dependence. XRP’s story is closely tied to Ripple’s business and decisions.
- Use of XRP. Partnerships with banks don’t always mean demand for XRP itself.
- Supply. Ripple’s holdings and escrow releases can weigh on the price.
- Small DeFi. The XRPL’s DeFi holds only about $330 million (DeFiLlama), small for its size.
XRP vs. the competition
| XRP | Stellar (XLM) | USDC | |
|---|---|---|---|
| Focus | Payments, bridge currency | Payments, tokenized assets | Dollar stablecoin |
| Settlement | 3–5 seconds | ~5 seconds | Depends on chain |
| Linked company | Ripple | Stellar Development Foundation | Circle |
| US spot ETF | Yes | No | — |
Our verdict
XRP is one of crypto’s most established assets: fast and cheap, with ETFs, a growing stablecoin and its legal battle behind it. For many investors, it is a core altcoin.
But its value depends heavily on Ripple, real bank demand for XRP is still unproven, and the price is about 64% below its 2025 high. XRP is a high-risk investment: invest only what you can afford to lose, and consider keeping it in a wallet you control.
This review is for information only and is not financial advice.