XRP Tl;dr

Founded: 2012

Founders: D. Schwartz, J. McCaleb, and A. Britto




Token/cryptocurrency/altcoin symbol: XRP

Coin limit: 100 Billion

Consensus mechanism: Ledger based (Neither proof-of-work nor proof-of-stake)

Purpose: Cryptocurrency, payment system

Financial Products: None.

What is XRP 

XRP is an open-source, decentralized blockchain-based payment system. It was founded by Schwartz, Britto and McCaleb in 2012. Jeb McCaleb left XRP to found Stellar Lumens (XLM).

XRP is the native token on the XRP blockchain.

The founders of XRP went on to create another project which became known as Ripple. Ripple holds 60 billion XRP, granted to it when XRP was founded.

XRP icon

What is Ripple?

Ripple, now called RippleNet, is a payment network created by the team from XRP. RippleNet is an international network designed for cross-border financial transfers between intermediaries. It is essentially a B2B payment system for real-time transfers built using the XRP ledger.


According to Canadian regulations, XRP is considered a commodity. Exchange of XRP for products, services or other cryptocurrencies is considered a barter transaction for tax purposes.


You can buy XRP on a cryptocurrency trading platform, exchange or receive it via transfer on the XRP ledger. There are currently no other financial products providing access to XRP.

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