Buy XRP

XRP is a cryptocurrency designed for fast, low-cost payments and moving value around the world. It runs on the XRP Ledger, a decentralised blockchain built specifically for quick and efficient transactions.

It helps to separate three names that are often confused. XRP is the cryptocurrency. The XRP Ledger is the blockchain it runs on. Ripple is a separate company that builds payment technology and uses XRP, but XRP itself exists independently on a public, decentralised network maintained by validators around the world.

Although people often refer to the asset informally as "Ripple," its correct name is XRP.

Unlike networks that rely on mining, the XRP Ledger settles transactions in seconds using a consensus process, which is part of why XRP transfers are typically fast and inexpensive.

What is XRP used for?

XRP is mainly used to move value quickly and cheaply between people, institutions and across borders. Its core purpose is acting as a bridge asset for payments and settlement, allowing value to be transferred without the delays of traditional banking systems.

Because transactions on the XRP Ledger usually settle in a few seconds with very low fees, XRP is often used for cross-border transfers and as a way to move between different currencies or assets. The ledger also supports other features, including tokens and a built-in decentralised exchange.

XRP has a fixed maximum supply of 100 billion coins, all of which were created when the XRP Ledger launched. No new XRP can be mined or created. A tiny amount of XRP is destroyed as a fee with every transaction, which means the total supply slowly decreases over time.

The history of XRP

The XRP Ledger was created in 2012 by Jed McCaleb, Arthur Britto and David Schwartz, who set out to build a faster, more energy-efficient alternative to mining-based blockchains like Bitcoin. All 100 billion XRP were created at launch.

The technology and its consensus approach are documented in the official XRP Ledger documentation. A portion of the XRP supply was provided to the company now known as Ripple, which has used it to support development and adoption of payment solutions.

Since launching, XRP has become one of the largest and most widely traded cryptocurrencies in the world, particularly known for its focus on payments and settlement. People buy XRP for many reasons, including transferring value, trading, or gaining exposure to the XRP ecosystem. Ripple has also launched a dollar-pegged stablecoin, which you can read about in our guide to Ripple's stablecoin RLUSD.