What is XRP?

XRP is the native digital asset of the XRP Ledger, an open-source network that began operating in 2012. XRP can be sent directly between ledger accounts and is also used for transaction costs and account reserves. It is not a share of Ripple and does not give its holder ownership rights in that company.

What the ledger does

The XRP Ledger validates transactions through a consensus process rather than proof-of-work mining. Ledger close time varies with network conditions, so the most defensible description is that validated ledgers usually close in several seconds. Fees and reserve settings are network parameters that can change through the amendment process. Current values should be checked in the official XRPL transaction-cost documentation, not converted into a permanent dollar figure.

XRPL also includes an order-book exchange, issued assets, payment channels, escrows, automated market makers, and native NFT objects. A protocol feature proves technical capability, not adoption by a particular bank or business.

Supply and ownership

All 100 billion XRP were created when the ledger began. No mining process creates additional XRP. Transaction costs destroy a small amount of XRP, while Ripple controls a material holding, including XRP subject to on-ledger escrow. The current distribution changes over time and should be verified from a dated ledger source. See the official XRP overview and XRPL history.

The practical takeaway is simple: XRP is a transferable ledger asset with a fixed original supply. Its market price, legal treatment, and availability depend on external markets and jurisdiction-specific rules.