What is XRP? Learn about Ripple

XRP is the native token of the XRP Ledger (XRPL), a decentralised, public blockchain developed to improve global payments — particularly for businesses and financial institutions — by enabling real-time settlement and ultra-low fees. While XRP is used to pay transaction fees and transfer value on the network, it’s the XRPL that delivers the speed and efficiency. Like Bitcoin, the XRPL is permissionless and open to anyone.

Curious about the difference between XRP vs Bitcoin? Or wondering how XRP is used in trading? This guide has the answers.

Ripple vs XRP

Although often used interchangeably, Ripple and XRP are not the same thing.

• Ripple is a company that creates technology to make sending money across borders faster and cheaper
• XRP is a cryptocurrency that works with that technology. It runs on its own blockchain, called the XRP Ledger

Ripple uses XRP in some of its solutions, especially for helping banks and businesses move money. Whereas XRP can be used by anyone, and Ripple doesn’t control the network.

Think of it this way — Ripple is the tech company, XRP is the digital coin.

Who created Ripple and XRP?

The idea behind Ripple traces back to 2004, but XRP officially came into play in 2012 when developers David Schwartz, Jed McCaleb, and Arthur Britto launched the XRP Ledger. Soon after, Chris Larsen joined and co-founded OpenCoin (later renamed Ripple Labs, now known simply as Ripple).

Ripple’s goal was to improve cross-border payment infrastructure and help banks move money better.

How does Ripple work?

Ripple works by combining two key parts:

• RippleNet: a global payments network that lets banks and financial companies send money to each other quickly and directly
• XRP: a digital currency used as a bridge between traditional currencies, helping to speed up transactions and cut costs. XRP is also used for transaction fees on the XRP Ledger

Instead of relying on a chain of banks and long wait times, RippleNet lets institutions connect through one system to transfer money almost instantly. This makes sending money across borders more affordable and less complicated.

Ripple doesn’t control the XRP Ledger, but it helps maintain it by running trusted validators. XRP helps move money between currencies in seconds, making the whole process smoother and faster. It’s a more modern way to move value around the world.

Want to explore crypto hands-on? Buy XRP with Revolut and start with as little as £1.

What is the XRP Ledger (XRPL)?

The XRP Ledger (XRPL) is a decentralised blockchain built for fast, low-cost money transfers around the world. XRP is its native digital asset — built into the XRPL’s core code and used to pay transaction fees or transfer value between accounts. The network has been running since 2012 without interruption.

Unlike Bitcoin, XRPL doesn’t rely on mining. Instead, it uses a unique consensus system, where trusted validators agree on which transactions to approve. This makes it much faster and more energy-efficient than many other cryptocurrencies.

Key XRPL features:

• Speed: transactions settle in just 3–5 seconds
• Low fees: each transaction typically costs less than a fraction of a penny
• Scalable: can handle up to 1,500 transactions per second
• Eco-friendly: doesn’t require mining, which saves massive amounts of energy

What is XRPL used for?

XRP is designed for real-world use, especially in speeding up and reducing the cost of global transactions.

Real-world use cases:

• Cross-border payments: enables real-time currency conversion across borders
• Trading: used by traders to bridge currencies and manage liquidity
• Micropayments: ideal for small-value transactions due to near-zero fees
• DeFi and tokenisation: XRPL supports smart contracts and custom tokens

For financial institutions, XRP helps avoid the traditional need to pre-fund accounts in different countries and currencies. Normally, banks have to keep money locked in accounts overseas to process international payments quickly. XRP changes that by acting as a bridge between currencies — allowing money to move instantly without having to hold funds in advance around the world. For individuals, it offers a fast, cost-efficient way to move money globally.

Learn more with Revolut Crypto.

Bitcoin vs XRP

While both are cryptocurrencies, their goals and mechanics are worlds apart.

While both XRP and Bitcoin aim to transform global finance, their designs are fundamentally different. Bitcoin relies on proof-of-work and mining, which is energy-intensive and slower. XRP uses a consensus mechanism based on a Unique Node List (UNL), allowing near-instant settlement with minimal environmental impact. XRP transactions are confirmed in seconds and cost a fraction of a penny, while Bitcoin can take minutes and cost significantly more. Additionally, XRP can scale to thousands of transactions per second using features like payment channels, making it more efficient for high-volume use cases.

How to buy XRP with Revolut

Getting started with XRP on Revolut is quick and easy:

1. From your Revolut app, go to Crypto → XRP
2. Choose the amount you want to buy and confirm the transaction

With Revolut, you can start with as little as £1. Everything happens directly in-app — no external wallets or complex exchanges required.

Revolut offers a streamlined way to buy XRP and manage your crypto alongside your everyday finances. Or dive deeper with Revolut X for more advanced trading.

XRP price

XRP is known for its speed and affordability, but like all cryptocurrencies, its price can fluctuate. You can check the live XRP to GBP rate or monitor broader movements on Revolut’s XRP price page.

As of now, XRP trades below its all-time high price, but it remains a top 10 coin by market cap.

XRP supply

• Total supply: 100 billion XRP tokens were created at inception
• Circulating supply: as of February 2025, approximately 57.76 billion XRP are in active circulation
• Escrow mechanism: to ensure a predictable release of XRP into the market, Ripple placed 55 billion XRP into a cryptographic escrow system, releasing up to 1 billion XRP per month, with unused portions returned to escrow

An escrow is a financial arrangement where a neutral third party holds funds or assets on behalf of two parties involved in a transaction, releasing them only when all agreed-upon conditions are met.

Get started with XRP

Now that you know more about XRP, how it works, what it’s used for, and the vision behind the project — you might be thinking about what’s next.

Whether you're interested in learning more or adding it to your crypto portfolio, Revolut makes it easy. You can get started in just a few taps, all within the app.

Buy XRP with Revolut or go deeper with advanced tools on Revolut X, and explore the potential of one of the world’s most established digital assets.

The information provided is accurate as of 14 June 2025.

Not all cryptoassets carry the same risks. Before investing, read our cryptoasset specific risk summaries to make sure you understand the different risks associated with different types of cryptoassets.

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