Ripple vs XRP vs XRP Ledger — What’s the Difference

If you’re new to crypto, it’s easy to conflate Ripple, XRP, and the XRP Ledger. They’re related, but they are not the same. This guide breaks down what each term means, how they interact, and what recent developments could matter to builders, investors, and everyday users.

The quick version

• Ripple: A private fintech company building enterprise payment solutions, some of which can use XRP and the XRP Ledger.
• XRP: The native digital asset of the XRP Ledger, used for fees, liquidity, and settlement.
• XRP Ledger (XRPL): A decentralized, public blockchain optimized for fast, low-cost transfers with built-in features like a decentralized exchange.

For deeper background, explore the official resources at the Ripple company site and the XRPL documentation: Ripple and XRPL.org.

Ripple (the company)

Ripple is a U.S.-based fintech that builds software for cross-border payments, liquidity management, and tokenization. Its products are designed for financial institutions and payment companies, and some offerings can settle using XRP and route over the XRP Ledger. Learn more on Ripple’s product pages at ripple.com.

Recent developments to watch:

• Ripple signaled broader ambitions in digital assets and tokenized payments, including plans announced in 2024 to launch a USD-backed stablecoin aimed at institutional use cases, reported by Reuters.
• The company continues to expand international partnerships while navigating U.S. regulatory clarity. See coverage of key legal milestones from Reuters and the live case docket at CourtListener.

Important: Ripple is not the XRP Ledger, and XRP is not equity in Ripple.

XRP (the asset)

XRP is the native token of the XRP Ledger:

• It pays network fees and serves as a bridge asset for liquidity and settlement.
• The supply was created at network genesis (no ongoing block rewards).
• A tiny amount of XRP is destroyed as fees for anti-spam, making supply slightly deflationary over time.

Because XRP is often used by Ripple’s customers for certain payment flows, people sometimes assume XRP is controlled by Ripple. It isn’t. XRP exists independently on the public XRP Ledger.

Legal context in the U.S. remains nuanced. In July 2023, a federal judge ruled that programmatic sales of XRP on exchanges did not constitute securities offers under specific circumstances, while certain institutional sales did. For details, see Reuters’ summary and the case docket at CourtListener.

XRP Ledger (XRPL)

The XRP Ledger is a decentralized, public blockchain designed for speed and cost efficiency:

• Consensus: XRPL uses its own consensus mechanism (not proof-of-work or proof-of-stake). Nodes maintain Unique Node Lists (UNLs) to determine trusted validators and reach fast finality in a few seconds. See the docs at XRPL.org.
• Open source: The reference server implementation, rippled, is maintained under the XRPL Foundation umbrella. Explore the code at XRPLF/rippled on GitHub.
• Built-in features:
  • Native decentralized exchange with on-ledger order books
  • Issued tokens (IOUs) for stable-value assets and tokenization
  • Escrows, payment channels, multi-sign support
  • NFTs and an automated market maker capability activated via network governance in 2024, as described in XRPL developer resources at XRPL.org

XRPL is not a private network. Anyone can run a node, submit transactions, or build applications without permission.

How they relate (and how they don’t)

• Ripple builds enterprise-grade payment software. It can use XRPL and XRP, but it doesn’t control either.
• XRP is simply the native asset of XRPL. It exists whether or not Ripple uses it.
• XRPL is the underlying blockchain that processes XRP transactions and supports tokenization, DEX trading, payments, and more—open to all developers and institutions.

Common misconceptions

• “XRP is Ripple’s stock.” Incorrect. XRP is a digital asset on a public blockchain; it does not confer ownership or dividends from Ripple.
• “Ripple controls the XRP Ledger.” No. XRPL is maintained by a global set of validators and contributors. The open-source codebase is community-driven via repositories like XRPLF/rippled.
• “More XRP can be printed.” The total XRP supply was created at genesis. Network fees are burned, reducing supply slightly over time. See the fundamentals at XRPL.org.

What’s new and why it matters

• Network-level upgrades: In recent cycles, XRPL governance has approved features like an on-ledger automated market maker and continued improvements to tokenization. These extend utility beyond payments to market making, DeFi-style liquidity, and NFTs, referenced in developer materials at XRPL.org.
• Enterprise adoption: Ripple’s emphasis on regulated, compliant payment flows and potential stablecoin initiatives could bring more payment volume to tokenized networks, covered by Reuters.
• Regulation: The U.S. case involving Ripple continues to influence how crypto assets—especially those used by enterprises—are viewed by regulators and courts. Track updates via the public docket at CourtListener.

Practical tips for users and builders

• Understand reserves: Creating an XRP Ledger account requires a small base reserve to prevent spam and ensure network health. Applications building on XRPL should account for this in UX and onboarding. See concepts and developer guidance at XRPL.org.
• Use the right key types: XRPL supports secp256k1 and Ed25519 keys. Wallets and custody setups should make explicit which scheme is used for addresses and signatures. Developer materials are available on XRPL.org and the reference server at XRPLF/rippled.
• Verify integrations: If your app relies on advanced XRPL features (e.g., DEX, AMM, escrow), test edge cases on testnet/devnet and monitor amendment status through XRPL community channels found at XRPL.org.

Self-custody and XRP: why hardware wallets still matter

Whether you’re holding XRP for payments or using XRPL features like escrows and issued tokens, controlling your private keys is essential. A hardware wallet keeps keys offline while enabling you to review transaction details (destination, tag, fee, memo) before signing—critical for XRPL where small mistakes (like an incorrect destination tag) can be costly.

OneKey supports XRP with secure offline signing and a transparent, open-source stack. If you interact with XRPL frequently—sending payments, managing accounts, or building apps—using a OneKey hardware wallet helps reduce key-exposure risk while maintaining a smooth workflow across desktop and mobile.

Bottom line

• Ripple is a fintech company building real-world payment infrastructure.
• XRP is the digital asset native to XRPL.
• The XRP Ledger is a decentralized public blockchain optimized for fast, low-cost settlement with built-in exchange and tokenization features.

Keeping these distinctions clear helps you evaluate news, regulation, and product announcements more accurately—and make better decisions about building or holding in the XRPL ecosystem. For official references and ongoing updates, start with XRPL.org, the XRPLF/rippled GitHub repository, the Ripple company site at ripple.com, and credible legal/news coverage from Reuters and CourtListener.