XRP: how it works, supply and reviews
Layer 1 blockchain
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Key facts
- Ticker
- XRP
- Category
- Layer 1 blockchain
- Network
- own blockchain
- Official site
- ripple.com/currency
- Whitepaper
- xrpl.org/docs
- Source code
- github.com/ripple/rippled
Data: CoinGecko, 2026-10-27. Only projects that still trade with meaningful volume are listed.
What is XRP
XRP is the native digital asset of the XRP Ledger, an open-source, permissionless blockchain launched in 2012 and built specifically for payments. XRP pays transaction costs on the ledger and can be used as a bridge currency for cross-border payments.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Layer-1 blockchain (XRP Ledger) with its own native asset, XRP |
| Consensus | XRP Ledger Consensus Protocol: each server trusts a Unique Node List (UNL) of validators; no mining or staking |
| Fault tolerance | Consensus continues while fewer than 20% of trusted validators are faulty |
| Launched | June 2012 |
| Block time | A new ledger version every 4–6 seconds |
| Programming language | The server software, xrpld, is written primarily in C++ (ISC licence) |
| Smallest unit | 1 drop = 0.000001 XRP |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | 100 billion XRP, all created at launch; no new XRP can be created |
| Issuance | None; there is no mining or block reward |
| Fee burn | Every transaction destroys a small amount of XRP as its transaction cost (minimum 10 drops) |
| Initial distribution | The founders gave 80 billion XRP to the company now called Ripple; Ripple placed 55 billion XRP in on-ledger escrow in 2017 |
What XRP is used for
- Pays the transaction cost: each transaction destroys a small amount of XRP, which protects the ledger from spam.
- Bridge currency between two other currencies in cross-border payments.
- Collateral and inventory moved between trading venues.
Who develops and governs XRP
- Founders
- David Schwartz, Jed McCaleb and Arthur Britto (from 2011); Chris Larsen joined to start the company in 2012
- Company
- Ripple (founded as NewCoin/OpenCoin in September 2012) builds products on the XRP Ledger and contributes to it
- Foundation
- XRPL Foundation, an independent non-profit founded 24 September 2020; holds the XRP trademark
- Governance
- Protocol changes are amendments; one activates after more than 80% validator support for two weeks
- Open source
- Yes, xrpld is published under the ISC licence on GitHub (XRPLF/rippled)
History
| Date | Event |
|---|---|
| 2011 | David Schwartz, Jed McCaleb and Arthur Britto begin developing the XRP Ledger as an alternative to mining-based Bitcoin. |
| June 2012 | The XRP Ledger launches with 100 billion XRP. |
| September 2012 | The founders and Chris Larsen start the company NewCoin, later OpenCoin and now Ripple, and give it 80 billion XRP. |
| 2017 | Ripple places 55 billion XRP in escrow so that the amount entering supply grows predictably. |
| 24 September 2020 | The XRPL Foundation is founded as an independent non-profit to support development and adoption of the ledger. |
| 2022 | The XRP trademark is reassigned to the XRP Ledger Trust (XRPL Foundation). |
Security and audits
- Transaction costs rise with network load, making it expensive to overload the network with spam.
- If more than 20% (but less than 80%) of a server's trusted validators are faulty, the network stops making progress rather than confirming invalid transactions.
Risks and caveats
- A single company, Ripple, received 80% of all XRP at launch and holds a large share in escrows it controls.
- Each server relies on a list of trusted validators; if more than 20% of them fail, the ledger stops closing new versions.
- Passed amendments apply permanently; reversing one requires another amendment.
Official links
- Website: xrpl.org
- Docs: xrpl.org/docs
- Source code: github.com/XRPLF/rippled
- Block explorer: livenet.xrpl.org
- Blog: xrpl.org/blog
- Foundation: foundation.xrpl.org
Questions and answers
What is XRP?
XRP is the native digital asset of the XRP Ledger, a public blockchain launched in June 2012 for payments. It pays transaction costs and can bridge currencies in cross-border payments.
Who created XRP?
David Schwartz, Jed McCaleb and Arthur Britto built the XRP Ledger in 2011–2012. Together with Chris Larsen they then started the company now called Ripple.
What is the maximum supply of XRP?
100 billion XRP were created at launch and no more can be created. Each transaction destroys a small amount, so the total slowly decreases.
How does the XRP Ledger reach consensus?
Validators trusted by each server agree on the next ledger version every 4–6 seconds. There is no mining or staking.
Is XRP the same as Ripple?
No. Ripple is a technology company that uses the XRP Ledger; XRP is the ledger's native asset, and the XRP trademark is held by the XRPL Foundation.
Sources
- CoinGecko — XRP
- XRPL.org — What is XRP?
- XRPL.org — XRP
- XRPL.org — History
- XRPL.org — What is the XRP Ledger?
- XRPL.org — Consensus protocol
- XRPL.org — Transaction cost
- XRPL.org — Amendments
- XRPL.org — Currency formats
- XRPLF/rippled — README
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