What is XRP? How the XRP Ledger works and how it differs from Ripple
By SendPay Business · · 2 min read
XRP is the native cryptocurrency of the XRP Ledger, a public blockchain that went live in 2012. It was built to settle payments quickly and cheaply, and it's often linked with Ripple, a US company that uses it in some of its cross-border payment products.
XRP vs Ripple
Ripple is a company. XRP is a digital asset that runs on the XRP Ledger, which is open-source and run by independent validators. Ripple holds a large amount of XRP, but the two aren't the same thing.
How the XRP Ledger works
- Transactions are confirmed by a group of validators agreeing on the ledger, not by mining.
- Payments usually settle in a few seconds.
- Each transaction burns a tiny fee in XRP, which helps stop spam.
- The ledger can also hold other tokens and swap between them.
Risks to know
Like other crypto, XRP's price can rise and fall sharply, and you can lose money. It isn't protected by the FSCS. Only buy what you can afford to lose.
Where SendPay fits
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This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.