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XRP

XRP · Field entry
PaymentsISO 20022Payments & moneyStablecoinsReal-world assets

The native asset of the XRP Ledger, a fast public ledger built for payments

$1.521.88%Snapshot · October 4, 2026 · updates live
Market cap
$95.70B
24h volume
$1.39B
Rank
#5
Circulating
63.09B XRP
Max supply
100.00B XRP
All-time high
$3.65 July 17, 2025

XRP price chart

7-day snapshot. Chart data from CoinGecko.

What is XRP?

XRP is the native asset of the XRP Ledger (XRPL), a public blockchain that has run since 2012 and settles transactions in a few seconds. Ripple, a US company, uses XRP and the ledger in some of its cross-border payment products, but the ledger itself is open source and anyone can use it.

Utility Lens

What XRP actually does

Moves value between accounts quickly and cheaply, and can act as a bridge asset when converting between currencies.

Real-world usage
growingThe ledger has processed payments and token transfers continuously for over a decade, but bank use of XRP as a bridge asset is narrower than headlines suggest and trading dominates volume.
Token necessity
essentialEvery XRPL account must hold a small XRP reserve and every transaction burns a tiny XRP fee, so the ledger cannot run without it.
Decentralization
moderateAnyone can run a validator, but most nodes follow a recommended validator list and Ripple still holds a large share of the supply in escrow.
Track record
longLive since 2012 with no hack of the base ledger; it paused block production for about an hour in February 2025 and spent 2020-2025 in a high-profile SEC lawsuit.

How we rate

What it’s used for

People and businesses send XRP and XRPL-issued tokens, including stablecoins, between wallets and exchanges. Ripple has used XRP as a bridge currency in some cross-border payment flows, and since November 2025 US investors can also get exposure through spot XRP exchange-traded funds. Much of XRP's day-to-day volume is still exchange trading.

Role of the XRP token:

gaspayments

Evidence of real use

  • Ripple placed 55 billion XRP into on-ledger escrows in December 2017, released on a monthly schedule. Source
  • The SEC and Ripple jointly dismissed their appeals in August 2025, leaving the $125 million civil penalty and the court's final judgment in place. Source
  • Canary Capital launched the first US spot XRP ETF (XRPC) in November 2025. Source
  • Ripple joined the ISO 20022 Registration Management Group in 2020 and is listed as a member under the 'RippleNet' delegation. Source

ISO 20022: claim vs. reality

What’s documented
Ripple (the company) has been a member of the ISO 20022 Registration Management Group since 2020, listed on the official roster under a 'RippleNet' delegation, and says its payment network has used ISO 20022-style data from the start. That is a seat in the standards governance process held by Ripple, not by the XRP token or the XRP Ledger.
What you’ll hear online
XRP is 'ISO 20022 compliant' or 'ISO 20022 approved,' so banks must use XRP after Swift's migration finished in November 2025.
Reality check
ISO 20022 is a messaging standard for banks and payment systems; it does not certify, approve or list any cryptocurrency. Swift's cross-border migration (coexistence ended November 22, 2025) and Fedwire's switch (July 14, 2025) changed message formats, not which assets banks settle with. Ripple's membership is real, but it gives XRP no special status.

ISO 20022, explained

How XRP works

The XRP Ledger does not use mining. Instead, independent validator servers agree on which transactions to include roughly every three to five seconds. Each server keeps a Unique Node List of validators it trusts, and a ledger version is confirmed once a large majority of those validators agree. This keeps fees tiny and confirmation fast, at the cost of relying on a fairly small, curated set of validators that most operators choose to follow.

Every account must keep a minimum XRP balance, called a reserve, which discourages spam. Each transaction also carries a small XRP fee that is destroyed rather than paid to anyone, so XRP is slowly removed from circulation over time. The ledger has a built-in exchange, an automated market maker, and lets companies issue their own tokens, such as stablecoins. Accounts can also hold trust lines to tokens issued by others.

Ripple is a separate company that builds payment software for banks and fintechs. Some of its products can use XRP to bridge between two currencies in seconds, while others route stablecoins or traditional rails. Owning XRP does not give you a share of Ripple the company. The company's large XRP holdings and escrow releases are one reason its decisions still matter to holders. Other firms, exchanges and wallet providers also build on the ledger without needing Ripple's permission, and the ledger's amendments are adopted only when validators support them.

Key moments

  1. 2012The XRP Ledger goes live and 100 billion XRP are created; the founders give a large share to the company that became Ripple.
  2. 2017Ripple locks 55 billion XRP in time-released on-ledger escrows.
  3. 2020The SEC sues Ripple and two executives, alleging unregistered securities sales; Ripple also joins the ISO 20022 Registration Management Group.
  4. 2023A federal judge rules that XRP sales on public exchanges were not investment contracts, while direct institutional sales were.
  5. 2025Both sides drop their appeals in August, ending the case with a $125 million penalty; the first US spot XRP ETF launches in November.

Supply

All 100 billion XRP were created at launch, and no new XRP can ever be issued. Ripple still holds a large amount in escrow, releasing up to 1 billion XRP each month and typically re-locking much of it. Transaction fees are burned, so total supply shrinks very slowly.

Risks to understand

  • Concentrated supply: Ripple's escrow and holdings mean a single company can influence how much XRP reaches the market.
  • Adoption risk: banks can use Ripple's software or ISO 20022 rails without ever touching XRP, so payment-industry news does not automatically mean XRP demand.
  • Validator concentration: most nodes rely on a recommended validator list, which narrows who effectively secures the ledger.
  • Regulatory risk remains for future sales structures, even though the SEC case is closed.

XRP FAQ

Is Ripple the same as XRP?

No. Ripple is a private company that builds payment software and holds a lot of XRP. XRP is the native asset of the open-source XRP Ledger, which runs independently of the company.

How did the SEC lawsuit end?

In August 2025 the SEC and Ripple dismissed their appeals, leaving the court's final judgment and a $125 million civil penalty in place. A 2023 ruling found that XRP sales to the public on exchanges were not investment contracts.

Is XRP an 'ISO 20022 coin'?

There is no such official category. Ripple sits on an ISO 20022 standards group, but the standard governs bank messages and does not endorse any token.

Why do I need a minimum XRP balance?

The XRP Ledger requires each account to keep a small reserve to prevent spam. That amount stays locked while the account exists.

Sources

  1. ISO 20022: Shaping the Future of Cross-Border Payments — Ripple
  2. Registration Management Group member list — ISO 20022 Registration Authority
  3. Litigation Release No. 26369: Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen — U.S. Securities and Exchange Commission
  4. An Explanation of Ripple's XRP Escrow — XRP Ledger
  5. Canary XRP ETF (XRPC) — Canary Capital
  6. XRP Ledger Experiences Temporary Outage, Restored After 64-Minute Halt — BeInCrypto
  7. ISO 20022: Implementation (end of CBPR+ coexistence) — Swift
  8. Fedwire Funds Service ISO 20022 Implementation Center — Federal Reserve Financial Services

Last reviewed October 4, 2026 by The Crypto Guide editorial team. Utility Lens ratings are editorial judgments, not investment advice. Market data from CoinGecko. Spot an error? Request a correction.