The Important Bits
XRP is the native cryptocurrency of the XRP Ledger, an open-source blockchain that launched in 2012 and was built for fast, low-cost transfers of value.
XRP and Ripple aren't the same thing: XRP is the asset, and Ripple is the company that builds payment technology that uses it. Ripple doesn't control the ledger.
The XRP Ledger settles transactions in seconds for a fraction of a cent, using a consensus protocol instead of energy-intensive mining.
With BitPay’s XRP wallet, you can buy, swap, sell, store, send, and spend XRP all in one self-custody app where you control your keys.
What is XRP?
XRP is the native cryptocurrency of the XRP Ledger, an open-source blockchain that launched in 2012. It has a fixed supply of 100 billion tokens and was built for one purpose above all: moving value quickly and cheaply. That focus on speed and low fees is what makes XRP well suited to real-world payments and everyday spending, not just holding.
XRP vs. Ripple
Although the names are often used interchangeably, XRP and Ripple aren't the same thing. XRP is the cryptocurrency. Ripple is the company that builds payment technology for banks and financial institutions, and it uses XRP in some of its products. Importantly, Ripple doesn't control the XRP Ledger. The network is open-source and maintained by independent validators around the world.
XRP Ledger
The XRP Ledger (XRPL) is the technology that underpins XRP. It's an open-source blockchain that validates and records every XRP transaction, and thanks to its consensus mechanism, it can settle transactions in just a few seconds—making it one of the faster networks in crypto. XRPL is often described as an efficient alternative to legacy systems like SWIFT, because it can bridge between institutions and settle value directly in seconds rather than days.
How does XRP work?
Unlike Bitcoin or Ethereum, XRP doesn't rely on proof-of-stake or proof-of-stake to confirm transactions. Instead, the XRP Ledger uses a consensus protocol: a network of independent validators checks each transaction and agrees on the state of the ledger every few seconds. Once enough validators agree, the transaction is confirmed and permanently recorded.
This design lets the XRP Ledger process transactions far faster and more cheaply than proof-of-work networks, with fees that amount to a tiny fraction of a cent. Ripple runs some validators, but like any other participant, it can't unilaterally control the ledger. Ripple's stated goal is to let money move as easily as information, what it calls an "internet of value".
XRP vs. Bitcoin and Ethereum
XRP, Bitcoin, and Ethereum are all major crypto assets, but they're built to do different things, and they confirm transactions in very different ways.
Bitcoin uses proof-of-work, where "miners" compete to solve complex puzzles to add transactions to the ledger. A Bitcoin transaction typically takes around 10 minutes to confirm. Ethereum uses proof-of-stake, where participants lock up (or "stake") their tokens for the chance to validate transactions.
XRP uses neither. Its consensus protocol lets independent validators agree on transactions every few seconds without mining or staking, so XRP transactions usually settle in three to five seconds for a fraction of a cent. The supply models differ too. Bitcoin is capped at 21 million BTC released gradually through mining, whereas all 100 billion XRP were created when the ledger launched. In short, Bitcoin and Ethereum are often treated as stores of value or platforms for applications, while XRP is designed first and foremost for fast, low-cost payments.
How to Use XRP with BitPay
With BitPay, XRP is more than something you hold. You can buy it, swap it, sell it, store it in self-custody, send and receive it, and spend it in the real world. As a first step, download the BitPay XRP wallet to get started.
Buy XRP
Buy XRP directly in the BitPay app* using familiar payment methods like credit and debit cards, bank transfers, Apple Pay, Google Pay, PayPal, Venmo, and more. BitPay compares offers from multiple integrated partners so you can compare rates on your XRP, and your purchase is delivered straight to a wallet you control.
*Terms and conditions apply, and XRP may not be supported across all BitPay services or in all jurisdictions. Not available in HI, LA, and NY.
Swap XRP
Swapping is the process of instantly trading XRP for another cryptocurrency (or vice versa) without a separate crypto-to-fiat exchange, making it a faster and lower-cost path than selling to cash and rebuying. You can swap XRP right inside the BitPay Wallet in just a few taps. Read our guide to crypto swaps to get started.
Sell XRP for cash
When you want liquidity, sell XRP to fiat and cash out directly to your linked bank account, debit card, or PayPal account. It all happens in the app, no need to move your XRP to a separate exchange.
Store XRP in self-custody
After buying, keep your XRP secure in the self-custody BitPay Wallet, where you control your private keys with full seed-phrase backup, recovery, and import.
Send and receive XRP
Want to make a peer-to-peer (P2P) payment? You can send and receive XRP between wallet addresses with the BitPay Wallet quickly and easily. It only takes a few steps:
Open the BitPay Wallet app
Tap your XRP wallet
Tap "Send"
Enter the wallet address you want to send to (or scan the receiver's QR code)
Enter the amount of XRP you want to send
Confirm the payment details and slide to send
Pay with XRP
A growing number of businesses accept direct payments in XRP. You can pay with XRP straight from your wallet at notable retailers and brands online and in-person and purchase gift cards from hundreds of major brands right from the BitPay app.
Take control of your XRP
Frequently asked questions
Is XRP a stablecoin?
No. A stablecoin is designed to hold a steady value by being pegged to an asset like the U.S. dollar. XRP isn't pegged, so its price moves with the market. However, Ripple has launched its own stablecoin, Ripple USD or RLUSD, but that's a separate asset from XRP.
How long does an XRP transaction take?
Typically less than 8 seconds.
How much does an XRP transaction cost?
Sending XRP on the XRP Ledger is remarkably cheap. The network charges a small built-in fee, typically a fraction of a cent, to process and confirm each transaction. That fee isn't paid to any company, miner, or validator; a tiny amount of XRP is simply destroyed with every transaction, which helps protect the network from spam. During periods of unusually heavy traffic the fee can rise slightly, but it generally stays well under a cent.
When you complete certain transactions through BitPay, such as buying, swapping, selling, or paying a merchant invoice, additional fees paid in XRP may apply for payment processing. But BitPay never charges a fee for peer-to-peer (P2P) transactions.
Can I buy, sell, and swap XRP with BitPay?
Yes. With BitPay you can buy, swap, and sell XRP. Plus store, send, receive, and spend it directly in the self-custody BitPay Wallet.
How do I get started with XRP on BitPay?
Download the BitPay Wallet (or update to the latest version), create or import an XRP wallet, and fund it by buying XRP through BitPay's integrated partners or receiving it from another wallet. From there you can hold, swap, sell, and spend your XRP.
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Note: All information herein is for educational purposes only, and shouldn't be interpreted as legal, tax, financial, investment or other advice. BitPay does not guarantee the accuracy, completeness, or usefulness of any information in this publication and we neither endorse, nor are we responsible for, the accuracy or reliability of any information submitted or published by third parties. Nothing contained herein shall constitute a solicitation, recommendation, endorsement or offer to invest, buy, or sell any coins, tokens or other crypto assets. BitPay is not liable for any errors, omissions or inaccuracies. For legal, tax, investment or financial guidance, a professional should be consulted.
