XRP (XRP)

Rank #6

XRP is a decentralized cryptocurrency and the native token of the XRP Ledger, a Layer 1 (L1) blockchain focused on global payments. Its focus is to enable fast international settlements at lower costs than traditional banking systems.

Technology and network

The network uses federated consensus, without mining or staking, with validation by a Unique Node List of trusted participants. To record transactions permanently, the protocol requires 80% agreement among validators.

With this structure, the XRP Ledger was designed for high performance and includes an integrated decentralized exchange mechanism for automated trading of tokenized tokens, without intermediaries.

How XRP works

XRP acts as a bridge asset between different fiat currencies, helping financial institutions reduce costs associated with liquidity. The network also removes the need to maintain pre-funded accounts to enable operations.

To help protect against spam, a small amount of XRP is burned with each transaction. In addition, institutions can use XRP as collateral to access traditional markets and organize digital asset infrastructure.

History and institutional adoption

The project's origins date back to 2004, with Ryan Fugger, and the modern form was co-founded by Jed McCaleb and Chris Larsen. The company, now known as Ripple, acts as a partner and investor in building global payment solutions.

In November 2025, the SEC approved a first wave of spot XRP ETFs, with products from issuers such as Bitwise, Grayscale, 21Shares, Canary Capital, and Franklin Templeton, listed on exchanges such as NYSE Arca, Nasdaq, and Cboe BZX.