XRP (Ripple)
XRP is the native digital asset of the XRP Ledger, designed for fast, low-cost international money transfers and as a bridge currency for cross-border payments.
Key Characteristics
- Speed: Transactions settle in 3-5 seconds
- Low Cost: Minimal transaction fees (0.00001 XRP)
- Scalability: Handles 1,500+ transactions per second
- Pre-mined: All 100 billion XRP were created at launch
- Consensus Algorithm: Uses unique Federated Consensus mechanism
Unlike Bitcoin and Ethereum, XRP doesn't rely on mining and focuses on institutional adoption for cross-border payments.
Core Technology
- XRP Ledger: Decentralized, open-source blockchain
- Federated Consensus: Unique algorithm that doesn't require mining
- Interledger Protocol: Connects different payment networks
- RippleNet: Network of financial institutions using Ripple's technology
Key Features
- Bridge Currency: Designed to facilitate exchanges between different currencies
- On-Demand Liquidity: Enables financial institutions to source liquidity through XRP
- Payment Processing: Optimized for processing payments, especially cross-border
- Built-in DEX: Native decentralized exchange in the XRP Ledger
Market Position
XRP has maintained a position among the top cryptocurrencies despite regulatory challenges, with strong adoption in Asian markets and growing institutional use.
Major Developments
- Regulatory Challenges: SEC lawsuit over whether XRP is a security
- CBDC Private Ledgers: Technology for central bank digital currencies
- Smart Contracts: New functionality through Hooks amendment
- NFT Support: Added in 2021 through XLS-20 standard
Challenges
- Regulatory Uncertainty: Ongoing legal disputes in the US
- Centralization Concerns: Large portion of XRP held by Ripple Labs
- Adoption Hurdles: Competition from traditional banking networks
- Market Perception: Often confused with Ripple (the company)
Advanced
Example Addresses
- Standard Account:
rDsbeomae4FXwgQTJp9Rs64Qg9vDiTCdBv - Escrow Account:
rL5f3nsdciqMAQ5LQYrwbTbTXrZbg61CC4 - Exchange Hot Wallet:
rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh(Binance)
Block Explorers
Key People
- Chris Larsen: Co-founder of Ripple and major XRP holder
- Brad Garlinghouse: CEO of Ripple
- David Schwartz: CTO of Ripple and one of the original architects of the XRP Ledger
- Arthur Britto: Co-architect of the XRP Ledger
- Jed McCaleb: Co-founder who left Ripple to create Stellar