XRP is the native asset of the XRP Ledger, a payments-focused blockchain launched in 2012 by the founders who went on to establish Ripple Labs. Unlike Bitcoin or Ethereum, all 100 billion XRP were created at the ledger's genesis — none is mined or staked — and the asset is most associated with cross-border payment settlement and liquidity, an application area distinct from Bitcoin's store-of-value framing or Ethereum's smart-contract platform.
Category
payments
Consensus mechanism
XRP Ledger Consensus Protocol (federated consensus, not proof-of-work or proof-of-stake)
Launched
2012
Consensus without mining or staking
The XRP Ledger uses its own consensus mechanism — a federated Byzantine agreement model in which a set of trusted validators (a 'Unique Node List') agree on transaction ordering roughly every few seconds, without proof-of-work mining or proof-of-stake bonding. This gives fast, low-fee settlement, but has drawn criticism from some in the industry over how validator trust lists are curated compared with fully permissionless mining or staking.
Ripple, the SEC case, and how XRP is used
Ripple Labs, a company distinct from the XRP Ledger itself, has built payment-settlement products (RippleNet, and later its stablecoin and custody offerings) that use XRP as a bridge asset for cross-border liquidity. XRP was the subject of a multi-year US SEC lawsuit over whether it constituted an unregistered security, with rulings in 2023 finding programmatic exchange sales did not meet the securities test while certain institutional sales did — always check the current regulatory status in your own jurisdiction, since this area has continued to evolve.
A large share of total XRP supply remains held in escrow accounts controlled by Ripple, released on a public schedule, rather than in Ripple's or any single party's immediate discretionary control.
Tokenomics
| circulating-supply | — |
|---|---|
| max-supply | 100,000,000,000 XRP (all created at genesis; no new issuance) |
| issuance-model | Fixed total created in 2012; a large share held in escrow and released on a pre-set schedule |
Last verified: 8 July 2026. before you rely on any figure — live circulating supply and market cap are never published here; check a live tracker.
Risks & criticisms
- Regulatory status has varied by jurisdiction and by time period; the 2023 US court rulings did not resolve every open legal question, and treatment elsewhere may differ — verify current status before relying on it.
- Consensus validator trust lists are more curated than fully permissionless mining/staking networks, a structural trade-off worth understanding.
- A meaningful share of total supply sits in Ripple-controlled escrow, released on schedule — a different concentration profile to a purely mined or staked asset.
Where to buy
Related buying guide
→ XRP — related buying guideFrequently asked questions
Is XRP the same thing as Ripple?
No. XRP is the native asset of the XRP Ledger; Ripple Labs is a separate company that builds payment products and uses XRP, among other things, as a bridge asset.
Was all XRP created at once?
Yes — all 100 billion XRP were created at the ledger's 2012 genesis; none is mined or issued through staking, unlike Bitcoin or Ethereum.
Is XRP a security?
This has been contested in court, particularly in the US, with a 2023 ruling distinguishing programmatic exchange sales from certain institutional sales. Treatment varies by jurisdiction and may change — check current local regulatory guidance.