XRP Price

What Is XRP?

XRP is the native coin of the XRP Ledger, a public blockchain built to move money quickly and cheaply. Transactions settle in a few seconds and cost a tiny fraction of a cent, and the ledger has a built-in exchange for trading currencies and tokens.

Three engineers, David Schwartz, Jed McCaleb and Arthur Britto, launched the ledger in June 2012, according to the XRP Ledger's own history. All XRP was created at launch, and the founders gave 80 billion XRP to the company now called Ripple.

That distinction matters. Ripple is a private San Francisco company that builds payment products and holds a large share of the supply, while the XRP Ledger itself is open-source software run by independent validators. The two names get used interchangeably, but they aren't the same thing.

How XRP Works

The XRP Ledger doesn't use mining or staking. It runs on its own consensus protocol, in which a set of trusted validators vote every few seconds on which transactions to add next. Each server picks the validators it trusts through a Unique Node List, and most use a default list published by the XRP Ledger Foundation or Ripple.

The supply rules are fixed. All 100 billion XRP were created when the ledger launched, and no protocol rule allows more. Every transaction destroys a small fee instead of paying it to anyone, so the total supply shrinks slowly over time. Each account must also hold a minimum reserve, set at 1 XRP since validators lowered it in December 2024.

XRP's version of an unlock schedule is Ripple's escrow. In December 2017, Ripple locked 55 billion XRP in escrow contracts that release up to 1 billion XRP a month, and it puts any XRP it doesn't use back into new escrow, according to Ripple's explanation of the escrow.

What People Use It For

Ripple's main pitch for XRP is cross-border payments. The company says its payments product can use XRP as a bridge between two currencies, so a bank or payment firm doesn't have to keep cash parked in accounts overseas.

The ledger also hosts tokens and stablecoins. Ripple issues RLUSD, a dollar-backed stablecoin that runs on the XRP Ledger and Ethereum, and our coverage of the RLUSD launch explains how it works. Investors who want XRP exposure in a brokerage account can buy spot XRP ETFs, which started trading in the US when Canary Capital's XRPC launched in November 2025. Funds from Franklin Templeton, Bitwise, 21Shares and others followed.

Risks To Know

XRP spent nearly five years under a legal cloud. In December 2020, the SEC sued Ripple and executives Brad Garlinghouse and Chris Larsen, alleging that XRP sales starting in 2013 were a $1.3 billion unregistered securities offering. Coinbase suspended XRP trading the next month.

In July 2023, Judge Analisa Torres ruled that Ripple's direct sales to institutional buyers were unregistered securities offerings, but its anonymous sales to the public on exchanges were not. Coinbase relisted XRP the same day.

A 2024 final judgment ordered Ripple to pay a civil penalty of about $125 million and barred it from future registration violations. Both sides appealed, then tried to settle on a smaller penalty in 2025. After the judge declined to cut the penalty or lift the injunction, both dropped their appeals in August 2025, leaving the judgment in place, according to the SEC. As a district court decision, the ruling doesn't bind other courts.

Ownership is concentrated as well. Ripple holds a large share of all XRP, much of it in escrow, and its sales add supply to the market. Critics also point out that most servers rely on the same default validator lists.

How To Buy XRP

Every major US crypto exchange sells XRP, including Coinbase, Kraken, Gemini, Binance.US and Crypto.com. Bitstamp also sells it until its US service stops taking new deposits and purchases on Feb. 1, 2027, and OKX lists it on its global platform. Bitget, MEXC and Gate list it internationally. The table below shows how much XRP each one gives you for the same amount of money after fees and spreads.

Spot XRP ETFs are another option through a brokerage account. If you move XRP to your own wallet, keep the 1 XRP reserve in mind, and include the destination tag when sending to an exchange, or the deposit can get stuck. Our piece on what "not your keys, not your coins" means covers the custody trade-off.

XRP And Your Taxes

The IRS treats XRP as property. Selling it, trading it for another coin or spending it triggers a capital gain or loss, with lower long-term rates for coins held more than a year. The XRP Ledger has no native staking, but tokens airdropped to XRP holders count as income when you receive them, per the IRS virtual currency FAQ.

Spot XRP ETFs can be held in an IRA. Read more on how taxes on crypto work.

FAQ

Is XRP A Good Investment?

That depends on your goals and how much risk you can take. Factors to weigh include how much real payment volume uses XRP versus speculative trading, Ripple's large holdings and escrow releases, competition from stablecoins, including Ripple's own RLUSD, and the coin's history of sharp price swings. Consider how a large drop would affect your other financial goals before buying.

What Is The Max Supply Of XRP?

The max supply is 100 billion XRP, all created when the XRP Ledger launched in 2012. No new XRP can be created under the current rules. A small amount is destroyed with every transaction fee, so the total slowly declines. Much of the supply not yet circulating sits in Ripple's escrow, which releases up to 1 billion XRP a month.

Who Created XRP?

David Schwartz, Jed McCaleb and Arthur Britto built the XRP Ledger and launched it in 2012. The founders then gave 80 billion XRP to the company that became Ripple, where Schwartz went on to serve as chief technology officer. Ripple is the largest XRP holder, but it doesn't control the ledger itself, which independent validators run.

Is XRP A Security?

A federal judge ruled in 2023 that Ripple's anonymous sales of XRP on exchanges weren't securities offerings, while its direct sales to institutions were. The judge didn't rule on resales by other holders. The SEC case ended in August 2025 with that ruling and a $125 million penalty in place. The decision came from a district court, so it isn't binding precedent elsewhere, and spot XRP ETFs now trade in the US.

Can I Buy XRP In An IRA?

Yes. Spot XRP ETFs trade on US stock exchanges, so a brokerage IRA can hold them like any other fund. Specialty crypto IRA providers also let you hold XRP directly, with their own fee structures. Our breakdown of how to invest in crypto in your IRA or 401k compares the routes.

Where Can I Buy XRP In The US?

Coinbase, Kraken, Gemini, Binance.US and Crypto.com all sell XRP to US customers (check whether OKX US offers it, and note that Bitstamp's US service winds down on Feb. 1, 2027), and spot XRP ETFs trade at most brokerages. Fees and spreads differ by exchange, so the cost table on this page compares what you'd actually receive for the same purchase.