XRP Ledger (XRPL) is a fast, accessible, and energy-efficient blockchain designed to solve real-world business problems, particularly in cross-border payments. Operational since 2012, it has processed billions of transactions globally and hosts XRP, one of the top 5 cryptocurrencies by market cap (over $120 billion). Despite its popularity, confusion often arises between XRP, XRPL, and Ripple. Let’s clarify these terms and explore how to use an XRPL wallet effectively.
XRP, XRPL, and Ripple: Key Differences
People frequently conflate XRP (the cryptocurrency), XRPL (the blockchain), and Ripple (the company supporting the technology). Here’s how they differ:
- XRP: Native token of the XRPL, used for payments and transfers.
- XRPL: Decentralized blockchain where XRP transactions occur.
- Ripple: A company that develops XRPL tools but doesn’t control the network.
While "Ripple" is often used colloquially to refer to wallets or the blockchain, technically, an "XRPL Wallet" manages XRP and other tokens on the XRP Ledger.
XRP: A High-Speed Payment Token
XRP enables fast, low-cost transactions (fractions of a cent) and is widely adopted for:
- Cross-border payments
- Currency exchanges (e.g., EUR to SGD via XRP)
- Financial platforms
Tokenomics:
- Total Supply: 100 billion XRP.
- Initial Distribution: 20% to founders, 80% to Ripple Labs.
- Supply Control: 55 billion XRP locked in escrow, with 1 billion released monthly.
👉 Explore XRP's utility in global payments
How to Create an XRPL Wallet
- Download a Wallet: Choose a self-custody wallet like Gem Wallet (available on App Store or Google Play).
- Set Up: Follow in-app instructions to generate a recovery phrase. Store this offline—it’s your only backup.
- Secure Your Wallet: Set a strong password and note your public XRPL address for receiving funds.
Activating Your XRPL Wallet
To activate, deposit at least 1 XRP (the network’s "base reserve" to prevent spam). This reserved XRP isn’t spendable but safeguards network integrity. Purchase XRP via:
- Transfers from exchanges
- Peer-to-peer transactions
- Credit card purchases in-wallet
Note: Delete your account to recover the reserved XRP if needed.
What Can You Do With an XRPL Wallet?
1. Manage Tokens
- Stablecoins: Use RLUSD (pegged 1:1 to USD) for payments.
- NFTs: Store, trade, or gift digital collectibles.
- Swaps: Instantly exchange tokens like XRP for RLUSD.
2. NFTs on XRPL
Create, send, or sell NFTs with minimal fees—all within the wallet.
3. Trust Lines
To hold non-XRP tokens (e.g., SOLO, RLUSD), add a trust line:
- Costs 0.2 XRP (temporarily reserved).
- First two trust lines are free for new wallets.
👉 Learn more about XRPL trust lines
FAQ
Q: Can I recover a lost XRPL Wallet?
A: Only with your recovery phrase—keep it secure!
Q: Why does XRPL require 1 XRP reserve?
A: To prevent spam and optimize network resources.
Q: Is Ripple the same as XRP?
A: No—Ripple is a company; XRP is the cryptocurrency on XRPL.
Q: How fast are XRP transactions?
A: Settled in 3–5 seconds with negligible fees.
Conclusion
An XRPL Wallet unlocks the full potential of the XRP Ledger—from seamless payments to NFT management. By understanding its features and security measures, you can confidently navigate the decentralized finance ecosystem.
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