The live XRP to USD price is currently $2.18** with a **$2.63 billion 24-hour trading volume. XRP has decreased by -2.34% over the past day. It holds the #4 market cap ranking with a total valuation of $128.62 billion. The circulating supply stands at 59 billion XRP, while the maximum supply is capped at 100 billion.
What is XRP?
XRP is the digital asset native to the Ripple network, designed for fast and cost-effective cross-border transactions. Unlike many decentralized cryptocurrencies, XRP operates on a distributed ledger maintained by a network of validating servers. It was created by Ripple Labs to facilitate real-time settlement for financial institutions and payment providers.
One of XRP's key advantages is its transaction speed. Payments are typically confirmed within 3-5 seconds, significantly faster than Bitcoin or Ethereum. Transaction fees are also minimal—usually a fraction of a cent—making it practical for microtransactions and large-value transfers alike.
XRP's total supply was pre-mined at 100 billion tokens upon its creation. No additional XRP can be mined or created through proof-of-work mechanisms. Ripple Labs initially held the majority of these tokens, though it has placed 55 billion XRP in escrow to ensure predictable and stable market supply.
While often associated with banking solutions, XRP functions as an independent digital asset that can be used by anyone for quick and efficient value transfer. Its underlying technology enables seamless conversion between different currencies, including fiat and other cryptocurrencies.
How Does XRP Work?
XRP operates on the XRP Ledger (XRPL), an open-source blockchain technology that uses a consensus protocol—rather than proof-of-work or proof-of-stake—to validate transactions. A network of 150+ validators globally agrees on the order and validity of transactions every 3-5 seconds.
This design allows the XRPL to process up to 1,500 transactions per second (TPS), far exceeding Bitcoin’s 7 TPS or Ethereum’s 30 TPS. The ledger also supports smart contracts, tokenization, and decentralized exchange features.
XRP serves as a bridge currency in liquidity solutions. For example, a Mexican peso can be converted to XRP, then to Japanese yen, within seconds and with minimal fees. This functionality makes it particularly valuable for remittance and corporate treasury services.
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XRP Use Cases and Applications
XRP is used in three major areas:
- Cross-Border Payments: Financial institutions use XRP to source liquidity and avoid pre-funding accounts in destination countries.
- Microtransactions: Content creators and gaming platforms use XRP for real-time, low-cost tipping and in-game purchases.
- Central Bank Digital Currencies (CBDCs): Ripple provides technology for governments exploring CBDCs using private versions of the XRPL.
XRP Price History and Performance
XRP reached its all-time high of $3.40 in January 2018. Like many cryptocurrencies, it experienced significant volatility during market cycles. Its price is influenced by:
- Adoption news among banks and payment providers
- Regulatory developments
- Broader cryptocurrency market trends
- Trading volume and investor sentiment
Despite periodic fluctuations, XRP has maintained a position among the top cryptocurrencies by market capitalization for several years.
Where to Buy and Store XRP
XRP is available on most major cryptocurrency exchanges. It can be traded for fiat currencies like USD, EUR, or GBP, or exchanged for other cryptocurrencies such as Bitcoin or Ethereum.
For storage, users can choose between:
- Hardware Wallets (e.g., Ledger, Trezor)
- Software Wallets (e.g., Trust Wallet, Exodus)
- Exchange-Based Wallets (convenient but less secure)
Always ensure you control your private keys when storing XRP or any cryptocurrency long-term.
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Frequently Asked Questions
What is the main purpose of XRP?
XRP is designed as a digital asset for fast and cheap cross-border transactions. It serves both as a currency and a liquidity tool for financial institutions and individual users.
How is XRP different from Bitcoin?
Unlike Bitcoin, which uses proof-of-work mining, XRP uses a consensus mechanism for validation. It also has faster transaction times, lower fees, and a fixed supply of 100 billion tokens.
Can XRP be mined?
No, XRP cannot be mined. All 100 billion tokens were created at launch. The supply in circulation increases only when Ripple releases tokens from escrow.
Is XRP decentralized?
XRP operates on a decentralized ledger with validators around the world. However, Ripple Labs initially held most tokens and still operates many validator nodes, leading to ongoing debates about its degree of decentralization.
What is Ripple’s role with XRP?
Ripple Labs is a private company that developed the XRP Ledger and promotes its use in payment solutions. It holds a significant amount of XRP but operates separately from the open-source XRPL.
How can I track XRP’s price in real-time?
You can monitor XRP’s live price, market cap, and trading volume through various cryptocurrency tracking websites and financial platforms that offer real-time data updates.