Ripple

XRP is the native digital asset of the XRP Ledger (XRPL), an open-source distributed ledger that has been operating since 2012. The network is designed for fast and low-cost value transfer, with transactions typically settling in a few seconds and fees measured in fractions of a cent. XRP itself functions as a bridge asset and as the unit used to pay transaction fees on the ledger.

The XRP Ledger uses a federated consensus protocol rather than proof-of-work or proof-of-stake. Validators publish lists of trusted peers and reach agreement on the order and validity of transactions, with no mining and no block rewards. The ledger supports native features including a built-in decentralised exchange, token issuance and a path-finding system for cross-currency payments.

Ripple, the company associated with the asset, develops payment products and digital asset infrastructure used by financial institutions for cross-border settlement, custody and stablecoin issuance. Within the broader landscape, XRP and the XRP Ledger occupy a position oriented toward payments and institutional integration, with a different design philosophy from general-purpose smart contract platforms.

Cross-border payments and settlement networks form a distinct category within crypto infrastructure, focused on moving value between currencies and financial institutions rather than on general-purpose programmable applications. XRP sits within this segment alongside other payment-oriented networks. Readers tracking how onchain settlement intersects with traditional finance can explore broader trends across crypto and Web3.