XRP Price (XRP)

XRP is a digital asset created to streamline and reduce the cost of cross-border payments. It operates on the decentralized XRP Ledger (XRPL) and serves as a bridge currency for transferring various assets. XRP's major benefits include fast transaction processing, typically completed within seconds, and lower fees compared to traditional financial networks. The use of XRP eliminates intermediaries like banks, making transactions more efficient and affordable.

All 100 billion XRP tokens were pre-mined and released when the XRP Ledger (XRPL) was launched. Network validators are compensated through small transaction fees, where a tiny fraction (0.00001 XRP) is deducted from each transaction. These fees are directly paid by users during the validation process, ensuring the network's smooth operation and consensus.

The XRP Ledger has several key features: Transaction Fees: A small amount of XRP is required in the wallet to conduct transactions on the network. Wallet Reserve: To open a wallet, a deposit of 10 XRP is required. This amount is adjustable through an open voting process. Bridge Currency: XRP acts as the bridge currency in Ripple’s payment solution, handling over $15B annually in cross-border transactions. Gas Fees on the Futureverse Root Network: The new layer 2 blockchain connecting to XRPL uses XRP for gas fees and distributes block rewards in XRP.

The XRPL was created in 2011 by engineers David Schwartz, Jed McCaleb, and Arthur Britto. Inspired by Bitcoin, they aimed to build a more sustainable network for global payments and transactions. The XRPL was officially launched in June 2012.

XRP has a maximum supply limit of 100 billion tokens. A small portion of each transaction is burned, which decreases the overall circulating supply. As of now, more than 51 billion XRP tokens are in circulation.

The XRP Ledger (XRPL) is a decentralized blockchain supported by over 600 nodes that process transactions and maintain the ledger. It uses a distinct Proof-of-Association (PoA) consensus mechanism, with over 100 validators, including universities, exchanges, businesses, and individuals. Additionally, XRPL integrates a decentralized exchange into the protocol, offering on-chain liquidity for various currency pairs. The primary use cases for the XRPL include payments, tokenization, decentralized finance (DeFi), central bank digital currencies (CBDCs), and stablecoins.

You can buy XRP directly on EXMON using a debit or credit card. Additionally, XRP can be traded for other cryptocurrencies on the EXMON exchange. The live XRP price is updated in real-time. For detailed instructions and more information, check out our comprehensive guide on how to buy XRP.