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XRP

XRP

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About XRP

XRP is the native token of the XRP Ledger, and the cryptocurrency used by the Ripple payment network. Built for enterprise use on a global scale, XRP powers cost-efficient cross-border payments.

XRP is the native digital asset of the XRP Ledger (XRPL), an open-source, decentralized technology that was launched in 2012. The XRPL is permissionless and offers several benefits including low-cost transactions, quick settlement times, scalability, and eco-friendly attributes. XRP, the digital currency, was introduced as an alternative to other digital currencies with a focus on speed and energy efficiency. The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol, making it a versatile tool in the digital currency space.

XRP operates on the XRP Ledger, which uses a unique Federated Consensus mechanism to validate transactions. Transactions are confirmed through a consensus protocol, where independent servers, known as validators, agree on the order and outcome of XRP transactions. All servers in the network process each transaction according to the same rules, and any transaction that follows the protocol is confirmed immediately. The XRP Ledger is transparent and public, and anyone can operate a validator. This Federated Consensus mechanism aims to process all verified transactions without a single point of failure, as no single participant makes a decision independently.

XRP presents a wide variety of applications and use cases related to payments, including micropayments, DeFi, and soon, NFTs. The XRP Ledger supports enterprises and developers with powerful utility and flexibility. Developers can create solutions that solve inefficiencies, including remittance and asset tokenization, using the XRP Ledger. Currently, the five main applications of the XRP Ledger are payments, tokenization, DeFi, CBDCs, and stablecoins. The XRP Ledger provides a platform for developers to build applications with the potential to enhance the efficiency and speed of digital transactions.

XRP and the XRP Ledger were launched in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto as an alternative to the Bitcoin blockchain with a focus on speed and energy efficiency. In September of the same year, they, along with Chris Larsen, founded the company that is today known as Ripple. The XRP Ledger architects gifted a large amount of XRP to Ripple so that the company could build use cases around the digital asset. Since its inception, the XRP Ledger has been operating reliably. However, since late 2020, Ripple Labs, the creators of the XRP token, has been in a legal battle with the United States Securities and Exchange Commission over whether or not XRP is a security.

XRP Insights

Bulls say

Ripple is creating a solution for investors and developers looking for institution-friendly blockchain products, and the project may be well-positioned to seize on a new wave of hype if it succeeds in establishing partnerships with financial institutions. These partnerships would help the network integrate into existing payment infrastructures for wider adoption.

In July 2023, a federal judge held that certain sales of the XRP token on secondary trading platforms were not securities transactions (but Ripple’s direct sales of XRP to institutional buyers were).

Bears say

Ripple faces persistent criticism by blockchain purists that XRP Ledger’s consensus mechanism – the method used to process transactions – is not secure enough.

Ripple’s critics also take particular aim at the initial distribution of XRP tokens. Ripple Labs remains the largest holder of XRP, leading to concerns that it can hurt or manipulate the asset’s price.

While Ripple won summary judgment on a portion of its case with the SEC, the litigation is ongoing and may be subject to appeal.

Finally, despite its efforts and unique features, Ripple as a blockchain has not achieved widespread adoption, particularly when compared to other major blockchain networks.

Market

Singapore Market stats

Market cap

S$38.1B

Volume (24h)

S$4.1B

Circulating supply

56.6B XRP

Typical hold time

85 days

Popularity

#7

All time high

S$4.99

Singapore Market performance

Price change (1h)

-1.53%

Price change (1d)

-10.8%

Price change (1w)

-12.56%

Price change (2w)

-11.7%

Price change (1m)

-6.76%

Price change (1y)

-0.21%

Singapore Market benchmarks

Performance (1Y)

-3.77%

Vs. Market (1Y)

-49.63%

Vs. BTC (1Y)

-56.13%

Vs. ETH (1Y)

-31.26%

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XRP is on the decline this week.

The price of XRP has decreased by 1.53% in the last hour and decreased by 10.80% in the past 24 hours. XRP’s price has also fallen by 12.56% in the past week. The current price is S$0.67 per XRP with a 24-hour trading volume of S$4.09B. Currently, XRP is valued at 86.57% below its all time high of S$4.99. This all-time high was the highest price paid for XRP since its launch.

The current circulating supply of XRP is 56,564,039,920 XRP which means that XRP has as total market cap of 56,564,039,920.

FAQ

What is the current price of XRP?

We update our XRP to SGD currency in real-time. Get the live price of XRP on Coinbase.

What is the market cap of XRP?

The current market cap of XRP is S$38.14B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of XRP?

The all-time high of XRP is S$4.99. This all-time high is highest price paid for XRP since it was launched.

What is the 24 hour trading volume of XRP?

Over the last 24 hours, the trading volume of XRP is S$4.09B.

What other assets are similar to XRP?

Assets that have a similar market cap to XRP include Bitcoin, Ethereum, Tether, and many others. To see a full list, see our comparable market cap assets.

How many XRP are there?

The current circulating supply of XRP is 57 billion.

What is the typical holding time of XRP?

The median time that Coinbase customers hold XRP before selling it or sending it to another account or address is 85 days.

What is the relative popularity of XRP?

XRP ranks 12 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of XRP?

Currently, 98% of Coinbase users are buying XRP. In other words, 98% of Coinbase customers have increased their net position in XRP over the past 24 hours through trading.

Can I buy XRP on Coinbase?

Yes, XRP is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy XRP guide.