Glossary and Who's Who
Short definitions of the terms and names used on this site. Each links to the pages that use it.
13F filing
A 13F filing is a report that large institutional investment managers must file with the U.S. Securities and Exchange Commission listing the securities they hold.
Covered in: What does BlackRock have to do with XRP? · Who owns XRP ETFs, and what do 13F filings really show? · Is institutional capital actually flowing into XRP in 2026?
Account activation
An XRP Ledger address becomes an account once it receives enough XRP to meet the reserve requirement, which is currently 1 XRP on Mainnet.
Covered in: Why must I deposit XRP before a new wallet works? · How do I move XRP from an exchange to my own wallet without losing it?
Account reserve
An account reserve is the minimum amount of XRP an XRP Ledger address must hold to exist, which protects the ledger from spam and excessive growth.
Covered in: Why must I deposit XRP before a new wallet works? · What is a trust line, and how do I check that a token on the XRP Ledger is genuine? · Why is some of my XRP locked (the reserve), and can I get it back? · How do I look up and read an XRP Ledger transaction on a public explorer?
Address poisoning
Address poisoning is a scam in which criminals send tokens from a crypto address that closely resembles one the victim has used before, hoping funds go to them instead.
Covered in: How do I move XRP from an exchange to my own wallet without losing it? · What is address poisoning, and how do I avoid it?
Air-gapped signing
Air-gapped signing keeps an XRP Ledger account's secret keys on an offline computer, which signs transactions that are then moved to an online computer for submission.
Covered in: What is air-gapped signing, and do I need it? · What XRP Ledger features can protect my account (regular keys, multi-signing, disabling the master key)?
Airdrop
An airdrop is a campaign in which a company or person launching a token gives away a certain amount of it to a select group of people to gain popularity.
Covered in: How are XRP yield, lending income, AMM fees and airdrops taxed? · Why are there strange tokens, airdrops or messages in my XRP wallet, and should I claim them? · What is a trust line, and how do I check that a token on the XRP Ledger is genuine?
Amendments
On the XRP Ledger, an amendment is a new feature or other change to how transactions are processed, and validators vote on whether to switch it on.
Covered in: Who writes and pays for the XRP Ledger's software, and could it continue without Ripple? · Has the XRP Ledger ever halted, forked or lost funds since 2012, and what happened? · Does the default validator list make the XRP Ledger centralized? · Where can I find trustworthy, current XRP news? · How do XRP Ledger upgrades (amendments) get approved, and who decides? · Does the XRP Ledger support smart contracts (Hooks, the EVM sidechain), and does that matter for XRP? · Is native lending live on the XRP Ledger yet?
Auto-bridging
Auto-bridging is an XRP Ledger exchange feature that can route a trade between two tokens through XRP whenever doing so is cheaper than trading them directly.
Covered in: What actually makes XRP different from Stellar and other fast networks: speed or integration? · How is an XRP bridge different from using a stablecoin like USDC? · Why do stablecoins matter for XRP liquidity? · What is auto-bridging on the XRP Ledger, and is it real or marketing? · What features does the XRP Ledger have today, and what new ones (like lending) are coming? · Do more stablecoins and tokenized assets make XRP more or less useful as a bridge? · How does XRP Ledger pathfinding route payments? · What is actually holding XRP adoption back: technology or activation? · Does tokenization on the XRP Ledger create any demand for XRP? · Could direct stablecoin pairs make XRP unnecessary on its own ledger? · Does every payment on the XRP Ledger go through XRP? · Can an RLUSD payment route through XRP automatically?
Automated market maker (AMM)
An automated market maker is a pool of two assets on the XRP Ledger's decentralized exchange that lets you swap between them at a rate set by a mathematical formula.
Covered in: How are XRP yield, lending income, AMM fees and airdrops taxed? · What can a company do with XRP held in its treasury? · How deep is XRP/RLUSD liquidity on the XRPL DEX? · How do XRP Ledger AMMs work, and can XRP holders earn fees in them? · Can institutions use XRPL AMMs through Ripple's APIs? · What features does the XRP Ledger have today, and what new ones (like lending) are coming? · How deep is XRP's market liquidity, and is it enough for global settlement? · What is the XRP liquidity flywheel, and is it running? · What are the risks of earning yield on XRP through AMM pools or wrapped XRP? · Is DeFi TVL a good measure of XRP liquidity, and what should be measured instead? · How much liquidity is in XRPL AMMs, and why do figures differ?
Bitcoin
Bitcoin is an innovative payment network and a new kind of money, run on peer-to-peer technology with no central authority or banks.
Covered in: How volatile is XRP, and how closely does its price move with bitcoin and the wider crypto market? · Is XRP being institutionalized faster than Bitcoin was? · What are the scheduled US inflation and jobs reports, and why do crypto commentators cite them? · How does XRP compare with Bitcoin and other major coins? · Is XRP's CME futures growth XRP-specific, and how does it compare with bitcoin, ether and Solana?
Bridge asset
A bridge asset is XRP or another token that a cross-chain bridge moves between the XRP Ledger and a second blockchain, such as its sidechain.
Covered in: Is there another neutral bridge asset as good as XRP? · Do central bank digital currencies and multi-CBDC platforms such as mBridge compete with XRP? · What would give XRP a real competitive moat, and what stands in its way? · How is an XRP bridge different from using a stablecoin like USDC? · Do banks and businesses need to hold XRP for it to be used? · Does XRP need to replace money to succeed? · Is XRP used for payments outside Ripple's own products? · Is the XRP bull case simply that banks will use it, and do all its uses have to succeed together? · Is XRP valued as a payment coin or as a liquidity and collateral asset? · What are tokenized bank deposits, and how do they differ from stablecoins and XRP? · How does XRP work as a bridge between currencies?
Capital gains
In Canadian tax terms, you usually have a capital gain when you sell, or are considered to have sold, a capital property (usually bought for investment purposes or to earn income) for more than its adjusted cost base plus the outlays and expenses to sell it.
Covered in: What records do I need to keep and report for crypto taxes? · How are XRP yield, lending income, AMM fees and airdrops taxed? · Do I pay tax on XRP in Canada or the US? · Do I have to report XRP held on a foreign platform or in self-custody on foreign-property or foreign-account forms? · How do I work out my cost basis and gain on XRP bought at different times and prices?
Carry trade
A carry trade means borrowing in a currency with low interest rates and putting the money into a currency with higher interest rates, usually using borrowed money.
Covered in: What is a hedged XRP carry trade, and is anyone running one? · Can the same XRP be held, hedged and put to work at once?
CFTC
The CFTC, or Commodity Futures Trading Commission, is a commission created in 1974 whose mission is to promote the integrity, resilience and vibrancy of U.S. derivatives markets through sound regulation.
Covered in: Can XRP be hedged on regulated markets, and why does that matter? · Is XRP a security?
Circulating supply
Circulating supply is the part of a cryptocurrency's total supply that is publicly available and actively moving in the market, according to Yahoo Finance.
Covered in: What market value would a given XRP price imply, and what does the evidence say it would take? · What is XRP's price and market cap, and what has its price history been? · Will XRP run out ("supply shock")? How much XRP is actually available to trade? · How was the original 100 billion XRP distributed, and how much have the founders sold? · What does bank payment use imply per XRP, and what does the evidence support?
CLARITY Act
The CLARITY Act, formally the Digital Asset Market Clarity Act, is a US bill on crypto market structure that would split oversight of digital assets between the SEC and CFTC.
Covered in: What happened to the CLARITY Act, and does it affect XRP? · How much have Ripple and its executives spent on lobbying and political donations? · Could a future US government reverse XRP's regulatory position?
CME Group
CME Group calls itself the world's leading derivatives marketplace, a company where clients trade futures, options, cash and over-the-counter markets.
Covered in: What is a hedged XRP carry trade, and is anyone running one? · How do lenders and market makers hedge XRP price risk? · What is cross-margining, and can institutions cross-margin XRP through Ripple Prime? · Can XRP be used as margin for futures, options and perpetuals, and where? · How big is CME XRP futures trading, and how fast has it grown? · Can XRP be hedged on regulated markets, and why does that matter? · What happened in the XRP ecosystem in each quarter of 2026? · What are the different kinds of XRP risk, and which have fallen? · What is the strongest bullish case for XRP, and is there evidence for it? · What would show the XRP institutional thesis is working next year? · How could borrowed XRP support a cross-border payment? · How deep is XRP's market liquidity, and is it enough for global settlement? · Is most XRP activity speculation rather than real use? · Why do market makers hold XRP, and are they betting on its price? · Is an XRP liquidity multiplier just leverage? · How much has XRP's institutional position changed since the SEC case? · What has to happen, in order, for XRP credit to scale? · Does Ripple Prime accept XRP as collateral? · Is XRP being institutionalized faster than Bitcoin was? · Is XRP already used as collateral and credit, or is that still in the future? · Does XRP meet the tests for institutional collateral? · Could XRP lending create a self-reinforcing feedback loop? · How does XRP compare with Bitcoin and other major coins? · Is XRP's CME futures growth XRP-specific, and how does it compare with bitcoin, ether and Solana? · Which major financial institutions are involved with XRP? · Can institutions reliably price XRP for collateral and fund valuation? · Which parts of the XRP institutional stack are live today, and which are still waiting? · What does bank payment use imply per XRP, and what does the evidence support? · How do XRP, RLUSD and tokenized Treasuries fit together on one ledger? · Is DeFi TVL a good measure of XRP liquidity, and what should be measured instead? · Is institutional capital actually flowing into XRP in 2026?
Cold wallet
A cold wallet is a crypto wallet made of paper or hardware, such as a hard drive or USB device, that generally isn't connected to the internet.
Covered in: Can a hardware wallet be hacked, and how do I verify one is genuine? · What's the difference between a hot wallet, a cold wallet and a paper wallet? · How much should I keep in a hot wallet versus cold storage? · How do crypto exchanges actually get hacked if they use cold wallets? · Where should I keep my XRP: on the exchange or in my own wallet?
Collateral
Collateral was a firm that offered peer-to-peer style investments, and its directors fraudulently made it look as though the firm held permission from the Financial Conduct Authority.
Covered in: Does XRP credit depend on native XRPL lending? · What kinds of XRP credit exist today? · Why could lending and collateral use matter for XRP? · Can XRP be used as margin for futures, options and perpetuals, and where? · What happens to an XRP-backed loan if XRP's price drops? · Can XRP be used as collateral like US Treasuries? · What happened to XRP held with crypto lenders that collapsed in 2022? · What rules govern lending against XRP, and how do bank capital rules treat it? · What does the public evidence show about what drives XRP's price? · Is XRP valued as a payment coin or as a liquidity and collateral asset? · Does Ripple Prime accept XRP as collateral? · Is XRP already used as collateral and credit, or is that still in the future? · Does XRP meet the tests for institutional collateral? · Could XRP lending create a self-reinforcing feedback loop? · Does one dollar of XRP support more than one dollar of financial activity? · How much credit is being created against XRP, and can it be measured? · How much can you borrow against XRP, and who sets the haircut? · Could an XRP treasury company be forced to sell its XRP? · What do tokenized markets need, and is XRPL built for it? · How can you build an XRP valuation model that isn't a price target? · Can tokenized Treasuries and funds be turned into cash or credit?
Collateral mobility
Collateral mobility is how freely safe debt, such as government bonds, can be traded, pledged as collateral and reused, moving to wherever it is most valuable.
Covered in: What is collateral mobility, and why did Ripple invest in ZILO and Licuido? · How big is tokenized repo and collateral movement on other platforms, and where does the XRP Ledger stand?
Consensus protocol
A consensus protocol is the set of rules every participant in a decentralized system follows so they all agree on the same series of events and outcomes, with no administrator.
Covered in: Has the XRP Ledger ever halted, forked or lost funds since 2012, and what happened? · Does the default validator list make the XRP Ledger centralized? · How is XRP kept secure if it isn't mined? · How does XRP compare with Bitcoin and other major coins?
Credentials
Credentials are signed statements that can be stored on the XRP Ledger and can attest to a user's identity, legal status or other status, provided by issuers to users who meet their criteria.
Covered in: What features does the XRP Ledger have today, and what new ones (like lending) are coming? · What compliance features does the XRP Ledger offer institutions?
Cross-border payments
A cross-border payment is a transfer of money in which the person paying and the person being paid are located in different jurisdictions.
Covered in: Do central bank digital currencies and multi-CBDC platforms such as mBridge compete with XRP? · What does the evidence say about how much XRP liquidity a share of global payments would need? · How big is the cross-border payments market XRP competes for? · Is XRP used for payments outside Ripple's own products? · What does bank payment use imply per XRP, and what does the evidence support? · How long would XRPL liquidity take to reach $5B to $250B at 2026 growth rates?
Cross-margining
Cross-margining is the practice of putting securities and commodity positions into one portfolio and measuring its combined net risk, which can lower the margin required.
Covered in: What is cross-margining, and can institutions cross-margin XRP through Ripple Prime? · Does one dollar of XRP support more than one dollar of financial activity?
Crypto ATM
A crypto ATM is a machine that lets people buy cryptoassets or convert their money into them, as the UK Financial Conduct Authority describes it.
Covered in: Someone says my bank account is compromised and I should move money into crypto. Is that real? · Are crypto ATMs a safe or sensible way to buy XRP?
Custody
In finance, custody is the legal right to manage and look after another person's money and investments, according to the Cambridge Business English Dictionary.
Covered in: What happens to my XRP if the exchange goes bankrupt? · How do I buy an XRP ETF, including in Canada or in a retirement account? · Is owning an XRP ETF the same as, or safer than, owning XRP? · Can XRP held with an institutional custodian be put to work in DeFi? · Can regulated institutions safely custody XRP? · What is an XRP ETF, and when were they approved? · Which XRP ETFs exist, what do they charge, and how are they regulated? · Can US banks now hold and custody crypto like XRP? · What rules govern lending against XRP, and how do bank capital rules treat it? · What rules must a Canadian crypto platform follow to hold my XRP? · Does XRP meet the tests for institutional collateral? · Which public companies besides Evernorth hold XRP in their treasury, and how much? · How much institutionally held XRP could be put to work without new buyers? · How do XRP ETF creations and redemptions work, and who moves the XRP? · Which parts of the XRP institutional stack are live today, and which are still waiting? · How much XRP do institutions hold, and how much is actually put to work?
Decentralized exchange (DEX)
The decentralized exchange (DEX) is the XRP Ledger's own exchange, where users can buy or sell fungible tokens for each other or for XRP.
Covered in: What should I watch instead of the XRP price? · Where does XRP trade, and how much of its reported trading volume is real? · What does the evidence say about how much XRP liquidity a share of global payments would need? · How deep is XRP/RLUSD liquidity on the XRPL DEX? · What is auto-bridging on the XRP Ledger, and is it real or marketing? · What features does the XRP Ledger have today, and what new ones (like lending) are coming? · How much XRP Ledger activity is bots, spam or wash trading? · How much trading does XRPL DEX liquidity support relative to its size? · How much trading happens on the XRPL DEX, and is it growing? · Why does liquidity depth matter for XRP as a bridge?
DeFi
Decentralized finance, or DeFi, means the financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries, as the Congressional Research Service described it on March 16, 2026.
Covered in: Could Ethereum or Solana become the universal bridge instead of XRP? · Can XRP held with an institutional custodian be put to work in DeFi? · Does the XRP Ledger support smart contracts (Hooks, the EVM sidechain), and does that matter for XRP?
Deposit and investor insurance
FDIC deposit insurance covers traditional checking and savings accounts, not investment products like stocks, mutual funds or crypto assets, even when bought from an insured bank.
Covered in: What happens to my XRP if the exchange goes bankrupt? · What rules must a Canadian crypto platform follow to hold my XRP? · Is my crypto insured like a bank account?
Derivatives
A derivative is a financial contract whose value comes from how something else performs, such as interest rates, currency exchange rates or commodity prices.
Covered in: How do lenders and market makers hedge XRP price risk? · Can XRP be used as margin for futures, options and perpetuals, and where? · Can XRP be hedged on regulated markets, and why does that matter? · How do leveraged XRP derivatives, funding rates and liquidations move XRP's price?
Destination tag
A destination tag is a number added to an XRP Ledger payment that shows who the payment is meant for, such as which customer an exchange should credit.
Covered in: Can I lose my XRP without anyone hacking me? · How do I move XRP from an exchange to my own wallet without losing it? · What is a destination tag, and what if I forgot it? · My XRP transfer hasn't arrived or went to the wrong place. What now? · How do I look up and read an XRP Ledger transaction on a public explorer?
Digital Asset Stockpile
The United States Digital Asset Stockpile is a set of Treasury custodial accounts holding forfeited digital assets other than bitcoin, created by a presidential order on March 6, 2025.
Covered in: Do any US states, foreign governments or central banks hold or use XRP or the XRP Ledger? · Is XRP in the US reserve, and is the government buying or holding XRP? · Why did Trump name XRP for a US crypto reserve?
Digital commodity
In SEC guidance, a digital commodity is a crypto asset needed to use parts of a working crypto system, listed among crypto assets that are not securities.
Covered in: Does the Ripple ruling bind other courts or settle the status of other tokens? · Is XRP a security? · Could a future US government reverse XRP's regulatory position?
Disposition
In the IRS's guidance on digital assets, a disposition means disposing of a digital asset you held, for example by selling, exchanging or transferring it.
Covered in: What records do I need to keep and report for crypto taxes? · Can I deduct crypto I lost to a scam? · Do I pay tax on XRP in Canada or the US? · How do I work out my cost basis and gain on XRP bought at different times and prices?
Escrow
On the XRP Ledger, an escrow locks up XRP or fungible tokens so they can't be used or destroyed until set conditions are met.
Covered in: Is Ripple abandoning XRP? · What would happen to XRP and the XRP Ledger if Ripple failed? · How many XRP exist, why so many, and can Ripple create more? · Is Ripple dumping XRP on holders? · What should I watch instead of the XRP price? · What is the history of XRP? · Why do so many crypto people dislike XRP (the "XRP Army" critique)? · Where has liquid XRP gone in 2026, and is the '50% drop on exchanges' true? · Will XRP run out ("supply shock")? How much XRP is actually available to trade? · How was the original 100 billion XRP distributed, and how much have the founders sold? · How does XRP compare with Bitcoin and other major coins? · What is the XRP escrow, and what happens when it runs out?
Ethereum
Ethereum is a global network where people hold their assets, data and identity directly; no company runs it, and thousands of independent operators keep it going, ethereum.org says.
Covered in: Could Ethereum or Solana become the universal bridge instead of XRP? · How do Ripple/XRP, Stellar, Circle, JPMorgan, Swift, Ethereum and Solana compare? · How does the XRP Ledger's native lending protocol work? · What is the XRP Ledger, and is it a real blockchain? · How does XRP Ledger activity compare with Ethereum, Solana and Stellar on the same measures? · Can XRP be used on other blockchains like Ethereum and Solana? · Does the XRP Ledger support smart contracts (Hooks, the EVM sidechain), and does that matter for XRP?
Evernorth
Evernorth is a company, announced on October 20, 2025, that set out to hold XRP and give investors exposure to it through a publicly listed vehicle.
Covered in: Does XRP credit depend on native XRPL lending? · What is Evernorth doing with its XRP, and how does it plan to earn yield? · How is Evernorth different from an XRP ETF? · What can a company do with XRP held in its treasury? · What is Evernorth, who backs it, and how much XRP does it hold? · What is in the XRP and Ripple pipeline for Q4 2026? · Is Ripple abandoning XRP? · What are the different kinds of XRP risk, and which have fallen? · What would show the XRP institutional thesis is working next year? · Can ETF, treasury, DeFi and derivatives XRP be added together? · How much XRPL trading involves RLUSD, and how much of it is against XRP? · What kinds of capital and roles form around XRP in tokenized finance? · Is Ripple a public company? Who owns it, and can I buy Ripple stock? · What has to happen, in order, for XRP credit to scale? · What does Evernorth's Nasdaq listing change, and is it new buying of XRP? · What is FXRP, and how much of it is actually being used? · Which public companies besides Evernorth hold XRP in their treasury, and how much? · Which major financial institutions are involved with XRP? · How much institutionally held XRP could be put to work without new buyers? · Could an XRP treasury company be forced to sell its XRP? · How do you measure how much XRP is actually being used? · Is money going into XRP infrastructure ahead of real demand? · Is native lending live on the XRP Ledger yet? · How much XRP do institutions hold, and how much is actually put to work?
Exchange custody
Gemini's guide to crypto custody calls this third-party custody: a provider holds and manages customer funds entirely and acts on the customer's instructions.
Covered in: Can my XRP be frozen or taken back? · Is there a limit on how much XRP I can buy in Canada? · What happens to my XRP if the exchange goes bankrupt? · How do I find or recover old XRP (a paper wallet or a forgotten service)? · How do crypto exchanges actually get hacked if they use cold wallets? · Someone I met online is showing me big crypto profits. Is it real? · How do I secure my account on a crypto trading platform (security keys, withdrawal allowlists, alerts)? · What happens to my XRP when I die? · What is a destination tag, and what if I forgot it? · What happened to XRP held with crypto lenders that collapsed in 2022? · Why did exchanges freeze or delist XRP during the lawsuit? · Do I have to report XRP held on a foreign platform or in self-custody on foreign-property or foreign-account forms? · Should I spread my XRP across several exchanges and wallets? · What rules must a Canadian crypto platform follow to hold my XRP? · Where should I keep my XRP: on the exchange or in my own wallet? · How do buying and selling XRP work, and where can people do it? · Is my crypto insured like a bank account? · How is XRP classified and regulated outside the US (EU, UK, Japan, Singapore, Canada)? · What happened in the September 2026 Bitget theft, and were customers' funds affected? · What's the biggest single cause of crypto losses for ordinary people? · How do I check that a crypto platform is registered and legitimate?
Executive order
An executive order is a legally binding order the President gives to federal agencies, usually directing how they carry out laws or policies that Congress established.
Covered in: Is XRP in the US reserve, and is the government buying or holding XRP? · How much have Ripple and its executives spent on lobbying and political donations? · Could a future US government reverse XRP's regulatory position? · What has the Trump administration's crypto policy actually done?
Fee burning
Fee burning on the XRP Ledger means every transaction pays a small XRP cost that is permanently destroyed rather than paid to anyone, which makes spamming the network expensive.
Covered in: Do XRP fee burns make XRP scarce?
Finality
On the XRP Ledger, a transaction's outcome becomes final only after a ledger closes and consensus approves the exact transaction set; an early result can still change.
Covered in: Can my XRP be frozen or taken back? · How do I move XRP from an exchange to my own wallet without losing it? · My XRP was stolen. Can I recover it? · Can a crypto transfer be reversed?
Flare
Flare is the network where XRP becomes programmable, so it can be used in decentralized finance such as trading and lending, while XRPL still issues and moves XRP.
Covered in: Can XRP held with an institutional custodian be put to work in DeFi? · Can I borrow RLUSD against XRP without selling it? · What is FXRP, and how much of it is actually being used?
Free float
Free float is, in MSCI's words, the number of company shares outstanding, and it helps shape a stock's index weight, liquidity and implementation costs.
Covered in: Do XRP ETF purchases make XRP scarcer? · What does the public evidence show about what drives XRP's price? · Will XRP run out ("supply shock")? How much XRP is actually available to trade?
Freeze and clawback
Issuers on the XRP Ledger can freeze tokens they issue so holders cannot spend them, and clawback lets them reclaim those tokens; XRP itself can never be frozen.
Covered in: Can my XRP be frozen or taken back? · What is a trust line, and how do I check that a token on the XRP Ledger is genuine? · What happened in the September 2026 Bitget theft, and were customers' funds affected?
Fully diluted valuation
Fully diluted valuation is what a cryptocurrency's total worth, or market cap, would be if its entire supply of tokens were in circulation, CoinMarketCap says.
Covered in: What is XRP's price and market cap, and what has its price history been?
FXRP
FXRP is a form of XRP on the Flare network, minted from XRP through Flare's FAssets system, that makes XRP programmable for use in decentralized finance.
Covered in: Can XRP held with an institutional custodian be put to work in DeFi? · Can XRP be used as margin for futures, options and perpetuals, and where? · What happened in XRP lending and collateral during 2026? · What can a company do with XRP held in its treasury? · What happened in the XRP ecosystem in each quarter of 2026? · What should I watch instead of the XRP price? · Is XRP ecosystem growth exponential, and will 2026's growth rates continue? · Can ETF, treasury, DeFi and derivatives XRP be added together? · Is most XRP activity speculation rather than real use? · Can XRP be used on other blockchains like Ethereum and Solana? · What kinds of capital and roles form around XRP in tokenized finance? · Can I borrow RLUSD against XRP without selling it? · Is XRP already used as collateral and credit, or is that still in the future? · What are the risks of earning yield on XRP through AMM pools or wrapped XRP? · What is FXRP, and how much of it is actually being used? · Will XRP run out ("supply shock")? How much XRP is actually available to trade? · Can I earn yield on XRP without selling it? · How much credit is being created against XRP, and can it be measured? · How much institutionally held XRP could be put to work without new buyers? · Is DeFi TVL a good measure of XRP liquidity, and what should be measured instead? · How much XRP do institutions hold, and how much is actually put to work? · What is XRP actually used for?
GENIUS Act
The GENIUS Act is a U.S. law, signed on July 18, 2025, that sets up rules for regulating payment stablecoins issued in the United States.
Covered in: Can RLUSD always be redeemed for dollars, and what happens to holders if its issuer fails? · What reserves must stablecoins hold under the GENIUS Act? · Is using stablecoins to boost demand for US Treasuries official policy, and does it involve XRP?
Haircut
A haircut is the discount that applies when the cash lent on a repo trade is less than the market value of the securities pledged as collateral.
Covered in: What happens to an XRP-backed loan if XRP's price drops? · Can XRP be used as collateral like US Treasuries? · What rules govern lending against XRP, and how do bank capital rules treat it? · How much can you borrow against XRP, and who sets the haircut?
Hardware wallet
A hardware wallet is a physical device that keeps your private key inside its secure chip, so every transfer has to be approved on the device itself.
Covered in: Can a hardware wallet be hacked, and how do I verify one is genuine? · What's the difference between a hot wallet, a cold wallet and a paper wallet? · What is a malicious signing request or wallet drainer? · What is air-gapped signing, and do I need it? · Which wallet is best for XRP, and how do I choose one without getting a fake or flawed one? · What happened with the D'CENT wallet hack, and am I affected?
Hedging
Hedging means buying a security to offset a potential loss on another investment, which FINRA describes as one way investors can manage risk.
Covered in: What is a hedged XRP carry trade, and is anyone running one? · Why do market makers hold XRP, and are they betting on its price? · Does one dollar of XRP support more than one dollar of financial activity?
Hot wallet
A hot wallet is a crypto wallet that connects to the internet through software on your phone or computer, FINRA explains in its investor guide on storing crypto assets.
Covered in: What's the difference between a hot wallet, a cold wallet and a paper wallet? · How much should I keep in a hot wallet versus cold storage? · How do crypto exchanges actually get hacked if they use cold wallets? · Where should I keep my XRP: on the exchange or in my own wallet? · What happened in the September 2026 Bitget theft, and were customers' funds affected?
Impermanent loss
Impermanent loss is the difference in value between providing liquidity and simply holding the same deposited tokens in your wallet, according to Orca's documentation.
Covered in: What are the risks of earning yield on XRP through AMM pools or wrapped XRP?
Impersonation scam
An impersonation scam is a fraud in which someone poses as a regulator, government agency or official to trick you into sending money or personal information, FINRA says.
Covered in: Someone says my bank account is compromised and I should move money into crypto. Is that real? · Someone says they can recover my lost crypto for a fee. Is it real? · Are XRP giveaways real? Is Ripple giving away free XRP? · Are crypto ATMs a safe or sensible way to buy XRP?
Inheritance planning
For crypto, inheritance planning means making sure digital assets can be found, accessed, valued, managed and passed on after death or incapacity, while limiting legal and tax risks.
Covered in: What happens to my XRP when I die?
Investment contract
An investment contract is one kind of security under U.S. federal law: someone puts money into a common enterprise expecting profits from other people's efforts.
Covered in: Does the Ripple ruling bind other courts or settle the status of other tokens? · Is XRP a security? · What was the SEC vs Ripple lawsuit about? · Why were XRP sales to institutions treated differently?
Investment scam
According to the Federal Trade Commission, investment scams claim you'll make a lot of money quickly or easily with little or no risk, using lies to get your money.
Covered in: Can I deduct crypto I lost to a scam? · Someone I met online is showing me big crypto profits. Is it real? · How do I spot and report an XRP scam, and what do I do if I've been scammed? · What's the biggest single cause of crypto losses for ordinary people?
ISO 20022
ISO 20022 is a name tied to financial messaging and to a migration that the Bank for International Settlements calls a journey in its brief on financial messaging's future.
Covered in: Is XRP "ISO 20022 compliant," and does it matter? · Is XRP replacing SWIFT, or could they work together? · What is Swift's blockchain ledger, and is it live?
Kinexys (JPM Coin)
Kinexys by J.P. Morgan is J.P. Morgan's blockchain infrastructure, on which fiat settlement execution was initiated in the first near real-time cross-border, cross-bank redemption of a tokenized U.S. Treasury fund, whose successful completion Ondo Finance announced on May 6, 2026.
Covered in: Is JPMorgan's JPM Coin or Kinexys a competitor to XRP? · How do Ripple/XRP, Stellar, Circle, JPMorgan, Swift, Ethereum and Solana compare? · What was the JPMorgan, Mastercard and Ondo tokenized Treasury redemption on XRPL? · How big is tokenized repo and collateral movement on other platforms, and where does the XRP Ledger stand? · What are tokenized bank deposits, and how do they differ from stablecoins and XRP?
Know your customer (KYC)
Under FINRA Rule 2090, know your customer means a brokerage firm must use reasonable diligence to learn and keep the essential facts about every customer.
Covered in: How do I limit the personal data that links me to my crypto holdings? · Why does the exchange want my ID? · How do buying and selling XRP work, and where can people do it? · How is XRP classified and regulated outside the US (EU, UK, Japan, Singapore, Canada)? · Are people really being attacked physically for crypto? · How do I check that a crypto platform is registered and legitimate?
Leverage
In the FCA Handbook, leverage is any method a fund manager uses to increase a fund's exposure, such as borrowing cash or securities or using derivatives.
Covered in: Is an XRP liquidity multiplier just leverage? · How do leveraged XRP derivatives, funding rates and liquidations move XRP's price?
Loan broker
On the XRP Ledger, a loan broker creates and manages loans, and it also manages the first-loss capital for a connected single asset vault.
Covered in: How does the XRP Ledger's native lending protocol work?
Loan-to-value (LTV)
Loan-to-value (LTV) is a percentage that compares the size of a mortgage loan with the most recent valuation of the property the loan is secured on.
Covered in: What rules govern lending against XRP, and how do bank capital rules treat it? · How much can you borrow against XRP, and who sets the haircut?
Machine payments
Machine payments are machine-to-machine payments, such as an AI agent paying for an API call or AI model inference with no human in the loop.
Covered in: Can AI agents and machines pay with XRP? · What does the public evidence show about what drives XRP's price?
Market capitalization
Market capitalization, or market cap, is one measure of a company's size: the total value of its outstanding shares of stock, FINRA explains.
Covered in: What market value would a given XRP price imply, and what does the evidence say it would take? · What is XRP's price and market cap, and what has its price history been? · How volatile is XRP, and how closely does its price move with bitcoin and the wider crypto market? · Is future adoption already priced into XRP?
Market depth
Market depth is the total value of limit orders on an exchange order book, split into bids and asks, within a set percentage of the mid-price.
Covered in: Where does XRP trade, and how much of its reported trading volume is real? · How deep is XRP's market liquidity, and is it enough for global settlement? · What does the public evidence show about what drives XRP's price? · Why does liquidity depth matter for XRP as a bridge?
Market makers
Under FINRA's trade reporting rules, a market maker is an exchange or over-the-counter market maker registered for a specific stock with an exchange or securities association.
Covered in: How do lenders and market makers hedge XRP price risk? · Can XRP be hedged on regulated markets, and why does that matter? · How could borrowed XRP support a cross-border payment? · Do banks and businesses need to hold XRP for it to be used? · Why do market makers hold XRP, and are they betting on its price? · What is the XRP liquidity flywheel, and is it running? · Is XRP valued as a payment coin or as a liquidity and collateral asset? · Why does liquidity depth matter for XRP as a bridge? · Could XRP lending create a self-reinforcing feedback loop? · Does XRP held by ETFs just sit idle? · How do XRP ETF creations and redemptions work, and who moves the XRP? · Do market makers need to own all the XRP liquidity they provide?
Master key
On the XRP Ledger, the master key pair is the private key and public key that an account's address is derived from; it can be disabled but never changed.
Covered in: Can I lose my XRP without anyone hacking me? · Is XRP's cryptography at risk from quantum computers? · What XRP Ledger features can protect my account (regular keys, multi-signing, disabling the master key)?
Money services business (MSB)
A money services business is a person doing business as a currency exchanger, check casher or money transmitter, or issuing, selling or redeeming traveler's checks, money orders or stored value.
Covered in: Why does the exchange want my ID? · Which licences does Ripple hold to run payments, custody and stablecoins, and where? · Are crypto ATMs a safe or sensible way to buy XRP? · How is XRP classified and regulated outside the US (EU, UK, Japan, Singapore, Canada)? · How do I check that a crypto platform is registered and legitimate?
Multi-Purpose Token (MPT)
A Multi-Purpose Token is a kind of fungible token on the XRP Ledger, designed to be more efficient and easier to use than trust line tokens.
Covered in: What compliance features does the XRP Ledger offer institutions?
Multi-signing
Multi-signing is a way to approve transactions on the XRP Ledger using a combination of several secret keys instead of just one.
Covered in: Can I lose my XRP without anyone hacking me? · What happens to my XRP when I die? · Is XRP's cryptography at risk from quantum computers? · What XRP Ledger features can protect my account (regular keys, multi-signing, disabling the master key)? · Are people really being attacked physically for crypto?
MXNB
MXNB is a stablecoin from Bitso whose value is pegged to the Mexican peso, with each token backed one-to-one by fiat currency reserves.
Covered in: What is the Ripple and Bitso MXNB stablecoin on the XRP Ledger?
Netting
Netting is when participants in a clearing or settlement system agree to cancel out what they owe one another, so only a smaller net amount remains.
Covered in: What does the Ripple Prime and EDX Markets integration provide? · What is Ripple Treasury's embedded netting? · How does net settlement reduce the capital needed to trade?
OCC
The OCC, short for the Office of the Comptroller of the Currency, is a U.S. Treasury bureau that charters, regulates and supervises national banks.
Covered in: Can regulated institutions safely custody XRP? · Can US banks now hold and custody crypto like XRP? · What rules govern lending against XRP, and how do bank capital rules treat it? · Is Ripple becoming a bank (Ripple National Trust Bank)? · What is Ripple Custody, and which banks use it? · What developments would show the U.S. government is actually using XRP?
On-Demand Liquidity (ODL)
On-Demand Liquidity is a Ripple payment service that institutions reach through the RippleNet API to send payments, delivering them through local rails such as SPEI.
Covered in: What would give XRP a real competitive moat, and what stands in its way? · Is Ripple abandoning XRP? · What would happen to XRP and the XRP Ledger if Ripple failed? · What does the evidence say about how much XRP liquidity a share of global payments would need? · Do banks and businesses need to hold XRP for it to be used? · How much of Ripple's payment volume actually uses XRP? · How does Ripple's On-Demand Liquidity (ODL) use XRP? · Is using XRP for cross-border payments actually cheaper? · Is most XRP activity speculation rather than real use? · How does a bank go from an ODL pilot to full volume? · Is XRP used for payments outside Ripple's own products? · Which parts of the XRP institutional stack are live today, and which are still waiting? · Can an RLUSD payment route through XRP automatically? · How does Ripple's payment system decide whether to route a payment through XRP? · How does SBI use XRP for Japan remittances? · Is the cross-border prefunding problem real, or Ripple marketing? · Is XRP payment routing live, and has it proven it can win routes? · What did MoneyGram's use of XRP prove, and was ODL volume organic? · How far did Ripple's ODL expand around the world? · Which exchanges provide XRP liquidity for Ripple's ODL? · What is XRP actually used for?
Open interest
Open interest is the number of options contracts that are still outstanding, either across a particular options market or for one options contract, as FINRA explains.
Covered in: How big is CME XRP futures trading, and how fast has it grown? · Is XRP's CME futures growth XRP-specific, and how does it compare with bitcoin, ether and Solana? · How do leveraged XRP derivatives, funding rates and liquidations move XRP's price?
OUSG
OUSG, short for Ondo Short-Term U.S. Government Treasuries, is a token for a tokenized U.S. Treasury fund, issued on public blockchains including the XRP Ledger.
Covered in: How do XRP, RLUSD and tokenized Treasuries fit together on one ledger? · Can tokenized Treasuries and funds be turned into cash or credit? · Are tokenized US Treasuries live on the XRP Ledger?
Over-the-counter (OTC)
Over-the-counter (OTC) trading generally refers to any trading that takes place off an exchange, and many financial products trade this way, including stocks, bonds and currencies.
Covered in: How deep is XRP's market liquidity, and is it enough for global settlement? · How do XRP ETF creations and redemptions work, and who moves the XRP?
Paper wallet
A paper wallet is a piece of paper holding a person's crypto private keys, a kind of cold wallet that generally isn't connected to the internet.
Covered in: What's the difference between a hot wallet, a cold wallet and a paper wallet?
Passphrase
In the SEC's EDGAR filing system, a passphrase is a security code a filer sets up and uses to generate its other EDGAR access codes.
Covered in: Can I lose my XRP without anyone hacking me? · How do I keep my XRP wallet, keys and recovery phrase safe?
Pathfinding
Pathfinding means finding paths, the routes that let trust line tokens flow through intermediary steps so an XRP Ledger payment can reach its receiver.
Covered in: What would give XRP a real competitive moat, and what stands in its way? · Why might an institution choose not to use XRP? · What is auto-bridging on the XRP Ledger, and is it real or marketing? · Do more stablecoins and tokenized assets make XRP more or less useful as a bridge? · How does XRP Ledger pathfinding route payments? · Is XRP payment routing live, and has it proven it can win routes?
Permissioned domains
A permissioned domain is a controlled environment on the XRP Ledger that features like permissioned trading can use to limit who gets access.
Covered in: What is the Ripple and Bitso MXNB stablecoin on the XRP Ledger? · How does the XRP Ledger compare with Canton, Hedera and other institution-focused chains? · What compliance features does the XRP Ledger offer institutions?
Perpetual futures
A perpetual futures contract is a derivative with no fixed expiration date that uses a periodic funding rate designed to keep its price in line with the underlying asset's spot price.
Covered in: Can XRP be used as margin for futures, options and perpetuals, and where? · Can XRP be hedged on regulated markets, and why does that matter? · How do leveraged XRP derivatives, funding rates and liquidations move XRP's price?
Phishing
Phishing means fake emails that pretend to come from a known sender, such as FINRA staff, to trick people into opening attachments that can carry malware or steal logins.
Covered in: Are XRP giveaways real? Is Ripple giving away free XRP? · How do I limit the personal data that links me to my crypto holdings? · How do I secure my account on a crypto trading platform (security keys, withdrawal allowlists, alerts)? · What is a malicious signing request or wallet drainer? · What is address poisoning, and how do I avoid it? · Why are there strange tokens, airdrops or messages in my XRP wallet, and should I claim them? · Can someone steal my crypto through my phone number (SIM swap)? · Which wallet is best for XRP, and how do I choose one without getting a fake or flawed one?
Prefunding
The European Central Bank's policy on prefunding for its TARGET payment system defines prefunding as a practice where an ancillary system participant places funds in central bank money under the control of the ancillary system for settlement purposes.
Covered in: How does Ripple's On-Demand Liquidity (ODL) use XRP? · Is using XRP for cross-border payments actually cheaper? · Is the cross-border prefunding problem real, or Ripple marketing?
Price targets
In FINRA Rule 2711, a price target appears in a member firm's research reports, is determined by valuation methods and must have a reasonable basis.
Covered in: Are the viral XRP rumors and "supercycle" claims true? · What market value would a given XRP price imply, and what does the evidence say it would take?
Prime brokerage
Prime brokerage is a package of services for large active investors, including clearing, custody, financing and securities lending, in which the prime broker finances the client's trades.
Covered in: What kinds of XRP credit exist today? · Do Ripple's trillion-dollar figures mean trillions are flowing into XRP? · What is Ripple Prime, and how big is it? · Does XRP meet the tests for institutional collateral? · Do market makers need to own all the XRP liquidity they provide?
Private key
A private key is the secret number used to create a digital signature on the XRP Ledger, and anyone who knows it effectively has full control over that address.
Covered in: How do I find or recover old XRP (a paper wallet or a forgotten service)? · Is XRP's cryptography at risk from quantum computers? · How do I keep my XRP wallet, keys and recovery phrase safe?
Real-world assets (RWA)
Real-world assets are digital tokens that stand for existing kinds of wealth, such as real estate, gold, stocks or art, so many people can share ownership.
Covered in: How much tokenized asset value is on the XRP Ledger? · How does XRP Ledger activity compare with Ethereum, Solana and Stellar on the same measures? · How does the XRP Ledger compare with Canton, Hedera and other institution-focused chains? · Is the XRP Ledger's $4 billion tokenization figure real, and how much is tradable?
Recovery phrase (seed phrase)
A recovery phrase, or seed phrase, is an ordered list of 12 to 24 words that lets a crypto wallet user regain access to their funds.
Covered in: Can a hardware wallet be hacked, and how do I verify one is genuine? · How do I find or recover old XRP (a paper wallet or a forgotten service)? · Can I lose my XRP without anyone hacking me? · What happens to my XRP when I die? · Should I spread my XRP across several exchanges and wallets? · How do I keep my XRP wallet, keys and recovery phrase safe? · What happened with the D'CENT wallet hack, and am I affected?
Recovery scam
According to FINRA, recovery scams typically start with someone offering to help you recoup money lost in an imposter or other type of investment scam, and they can often lead to even greater losses.
Covered in: Someone says they can recover my lost crypto for a fee. Is it real? · How do I find or recover old XRP (a paper wallet or a forgotten service)? · How do I spot and report an XRP scam, and what do I do if I've been scammed? · My XRP transfer hasn't arrived or went to the wrong place. What now? · My XRP was stolen. Can I recover it?
Reference rate
A reference rate is a regularly updated, publicly available interest rate, also called a benchmark rate, that serves as a basis for loans, mortgages and other financial contracts.
Covered in: Can institutions reliably price XRP for collateral and fund valuation?
Reflexivity
Reflexivity is a two-way loop in which what people believe about something changes that thing, and the changed thing then changes what people believe.
Covered in: Could XRP lending create a self-reinforcing feedback loop?
Regular key
A regular key is a second key pair you can attach to an XRP Ledger account and use to sign transactions instead of the master key pair, protecting the account.
Covered in: Is XRP's cryptography at risk from quantum computers? · What XRP Ledger features can protect my account (regular keys, multi-signing, disabling the master key)?
Rehypothecation
Rehypothecation is when a financial firm, such as a broker-dealer, uses assets that belong to its clients, as the Financial Stability Board defined it on January 25, 2017.
Covered in: What happened to XRP held with crypto lenders that collapsed in 2022? · Is an XRP liquidity multiplier just leverage?
Repo
A repo, or repurchase agreement, is a sale of financial assets, usually government securities, with a promise to buy them back at a set price on a future date.
Covered in: Are XRP ETF shares being used as repo collateral, and did Schwab buy XRP? · Is an XRP liquidity multiplier just leverage? · How big is tokenized repo and collateral movement on other platforms, and where does the XRP Ledger stand? · What are DBS and Franklin Templeton doing with RLUSD? · Can companies get repo financing through Ripple Treasury? · Can tokenized Treasuries and funds be turned into cash or credit?
Ripple
Ripple is a financial technology company that offers crypto solutions to help financial institutions, businesses, governments and developers store, move and exchange value.
Covered in: What actually makes XRP different from Stellar and other fast networks: speed or integration? · Is XRP "ISO 20022 compliant," and does it matter? · How do Ripple/XRP, Stellar, Circle, JPMorgan, Swift, Ethereum and Solana compare? · How does the XRP Ledger's native lending protocol work? · What is Evernorth, who backs it, and how much XRP does it hold? · What happened to the CLARITY Act, and does it affect XRP? · How much have Ripple and its executives spent on lobbying and political donations? · How much did Ripple have to pay the SEC? · Is the US government coordinating with Ripple around XRP, or is that pure speculation? · How do Ripple's business lines fit together? · How has Ripple Prime been funded, and does that money go into XRP? · Is Ripple abandoning XRP? · Is Ripple becoming a bank (Ripple National Trust Bank)? · Which licences does Ripple hold to run payments, custody and stablecoins, and where? · Do Ripple's trillion-dollar figures mean trillions are flowing into XRP? · What has Ripple bought, and does it help XRP? · What is Ripple Custody, and which banks use it? · What is Ripple Payments and how big is it? · What is Ripple Prime, and how big is it? · What would happen to XRP and the XRP Ledger if Ripple failed? · What does the evidence say about XRP as a long-term holding? · How many XRP exist, why so many, and can Ripple create more? · Is Ripple dumping XRP on holders? · What are the different kinds of XRP risk, and which have fallen? · Who owns the most XRP, and how many people hold it? · Why isn't XRP's price going up, even with more adoption? · What is XRP's value-capture problem, and how would it be measured? · What is RLUSD, and what does it mean for XRP? · Where is RLUSD available, and who uses it? · Does Ripple control XRP or the XRP Ledger, and can it freeze my coins? · What is the history of XRP? · Is buying XRP the same as owning part of Ripple? · What's the difference between Ripple, XRP and the XRP Ledger? · Why do so many crypto people dislike XRP (the "XRP Army" critique)? · What is collateral mobility, and why did Ripple invest in ZILO and Licuido? · Can institutions use XRPL AMMs through Ripple's APIs? · Who writes and pays for the XRP Ledger's software, and could it continue without Ripple? · Does the default validator list make the XRP Ledger centralized? · Can AI agents and machines pay with XRP? · Do banks and businesses need to hold XRP for it to be used? · Do Ripple partnership announcements mean demand for XRP? · Do banks actually need XRP, or just Ripple's software? · How much of Ripple's payment volume actually uses XRP? · How does Ripple's On-Demand Liquidity (ODL) use XRP? · How does a bank go from an ODL pilot to full volume? · What is actually holding XRP adoption back: technology or activation? · Is Ripple a public company? Who owns it, and can I buy Ripple stock? · How much RLUSD exists, and how fast is it growing? · Will RLUSD and other stablecoins replace XRP? · What is XRP? · How much has XRP's institutional position changed since the SEC case? · What does Ripple do today, and is it just a company that sells XRP? · What does the evidence show about the risks of holding XRP, and how risky is it? · Is the XRP bull case simply that banks will use it, and do all its uses have to succeed together? · What is Ripple Mint, and what does it say about RLUSD use? · Are XRPL institutional announcements actually becoming live products? · What was the SEC vs Ripple lawsuit about? · Why were XRP sales to institutions treated differently? · Does Ripple's success mean XRP's price goes up? · How was the original 100 billion XRP distributed, and how much have the founders sold? · How big could the tokenized-asset market get, and how reliable are the forecasts? · How is XRP kept secure if it isn't mined? · Is the SEC vs Ripple case over, and who won? · What is the XRP escrow, and what happens when it runs out? · Is money going into XRP infrastructure ahead of real demand? · What is Ripple Treasury, and how big is it? · What do tokenized markets need, and is XRPL built for it? · What did MoneyGram's use of XRP prove, and was ODL volume organic? · How far did Ripple's ODL expand around the world?
Ripple Custody
Ripple Custody is Ripple's software that lets banks, asset managers and fintech companies safeguard, transfer and settle digital assets such as cryptocurrencies, stablecoins and tokenized real-world assets.
Covered in: How do Ripple's business lines fit together? · Which licences does Ripple hold to run payments, custody and stablecoins, and where? · What is Ripple Custody, and which banks use it? · What does Ripple do today, and is it just a company that sells XRP?
Ripple National Trust Bank
Ripple National Trust Bank (RNTB) is a federally supervised trust bank that Ripple received conditional approval to establish from the Office of the Comptroller of the Currency.
Covered in: Is Ripple becoming a bank (Ripple National Trust Bank)? · Which licences does Ripple hold to run payments, custody and stablecoins, and where? · What does Ripple do today, and is it just a company that sells XRP? · What developments would show the U.S. government is actually using XRP?
Ripple Payments
Ripple Payments is a cross-border stablecoin payment solution that helps businesses send and receive payments across borders using blockchain and digital assets such as XRP.
Covered in: How do Ripple's business lines fit together? · Is Ripple abandoning XRP? · What is Ripple Payments and how big is it? · What would show the XRP institutional thesis is working next year? · What is the Ripple and Bitso MXNB stablecoin on the XRP Ledger? · How could a corporate treasurer end up using XRP? · How could borrowed XRP support a cross-border payment? · Do banks actually need XRP, or just Ripple's software? · How much of Ripple's payment volume actually uses XRP? · How does Ripple's On-Demand Liquidity (ODL) use XRP? · Will RLUSD and other stablecoins replace XRP? · Do banks actually use XRP? · What does Ripple do today, and is it just a company that sells XRP? · How does Ripple's payment system decide whether to route a payment through XRP? · Is XRP payment routing live, and has it proven it can win routes? · What is XRP actually used for?
Ripple Prime
Ripple says on its Ripple Prime product page that Ripple Prime is its global prime brokerage business, created when Ripple acquired Hidden Road, and that it offers clearing, brokerage and financing to institutions across digital assets, FX, precious metals, exchange-traded derivatives, OTC swaps, fixed income repo and more.
Covered in: What actually makes XRP different from Stellar and other fast networks: speed or integration? · What is cross-margining, and can institutions cross-margin XRP through Ripple Prime? · What does the Ripple Prime and EDX Markets integration provide? · What happens to an XRP-backed loan if XRP's price drops? · What happened in XRP lending and collateral during 2026? · How do Ripple's business lines fit together? · How has Ripple Prime been funded, and does that money go into XRP? · Do Ripple's trillion-dollar figures mean trillions are flowing into XRP? · What has Ripple bought, and does it help XRP? · What is Ripple Prime, and how big is it? · What would show the XRP institutional thesis is working next year? · What is XRP's value-capture problem, and how would it be measured? · How could a corporate treasurer end up using XRP? · What is actually holding XRP adoption back: technology or activation? · What does Ripple do today, and is it just a company that sells XRP? · Is the XRP bull case simply that banks will use it, and do all its uses have to succeed together? · What has to happen, in order, for XRP credit to scale? · Does Ripple Prime accept XRP as collateral? · How does net settlement reduce the capital needed to trade? · Is XRP already used as collateral and credit, or is that still in the future? · Does Ripple's success mean XRP's price goes up? · How much credit is being created against XRP, and can it be measured? · Which major financial institutions are involved with XRP? · Which parts of the XRP institutional stack are live today, and which are still waiting? · Is money going into XRP infrastructure ahead of real demand? · Can companies get repo financing through Ripple Treasury? · Do market makers need to own all the XRP liquidity they provide? · How much XRP do institutions hold, and how much is actually put to work?
Ripple Treasury
Ripple Treasury is Ripple's treasury management platform, built to help company finance teams handle cash, payments, risk and digital assets such as stablecoins.
Covered in: What actually makes XRP different from Stellar and other fast networks: speed or integration? · What does BlackRock have to do with XRP? · What is in the XRP and Ripple pipeline for Q4 2026? · How do Ripple's business lines fit together? · Do Ripple's trillion-dollar figures mean trillions are flowing into XRP? · What has Ripple bought, and does it help XRP? · What is XRP's value-capture problem, and how would it be measured? · How could a corporate treasurer end up using XRP? · What was the JPMorgan, Mastercard and Ondo tokenized Treasury redemption on XRPL? · What does Ripple do today, and is it just a company that sells XRP? · What is Ripple Treasury's embedded netting? · Does Ripple's success mean XRP's price goes up? · Can companies get repo financing through Ripple Treasury? · What is Ripple Treasury, and how big is it? · What digital-asset features does Ripple Treasury have?
RippleNet
RippleNet is one of Ripple's two products for cross-border payments, a shared system that copies how banks hold accounts with each other so partners can message and settle payments.
Covered in: What is Ripple Payments and how big is it? · Do Ripple partnership announcements mean demand for XRP? · How much of Ripple's payment volume actually uses XRP? · How does a bank go from an ODL pilot to full volume? · Do banks actually use XRP? · Is XRP payment routing live, and has it proven it can win routes?
RLUSD
Ripple USD (RLUSD) is a stablecoin, a digital token Ripple's documentation describes as backed one-to-one with high quality liquid assets, cash and cash equivalents.
Covered in: How is an XRP bridge different from using a stablecoin like USDC? · What happened in the XRP ecosystem in each quarter of 2026? · What is in the XRP and Ripple pipeline for Q4 2026? · How do Ripple's business lines fit together? · Is Ripple abandoning XRP? · Which licences does Ripple hold to run payments, custody and stablecoins, and where? · What would happen to XRP and the XRP Ledger if Ripple failed? · What is the strongest bullish case for XRP, and is there evidence for it? · What should I watch instead of the XRP price? · What would show the XRP institutional thesis is working next year? · Why isn't XRP's price going up, even with more adoption? · Is XRP ecosystem growth exponential, and will 2026's growth rates continue? · What is the Ripple and Bitso MXNB stablecoin on the XRP Ledger? · How much XRPL trading involves RLUSD, and how much of it is against XRP? · What is RLUSD, and what does it mean for XRP? · Where is RLUSD available, and who uses it? · Who earns the interest on RLUSD's reserves, and does any of it reach XRP holders? · Why do stablecoins matter for XRP liquidity? · How deep is XRP/RLUSD liquidity on the XRPL DEX? · What could XRPL stablecoin supply be by the end of 2026? · How much stablecoin value actually moves on the XRP Ledger? · Is buying XRP the same as owning part of Ripple? · How could a corporate treasurer end up using XRP? · How much tokenized asset value is on the XRP Ledger? · How do XRP Ledger AMMs work, and can XRP holders earn fees in them? · How much activity is on the XRP Ledger right now? · Can AI agents and machines pay with XRP? · How could borrowed XRP support a cross-border payment? · Do banks and businesses need to hold XRP for it to be used? · Do banks actually need XRP, or just Ripple's software? · How much of Ripple's payment volume actually uses XRP? · Do more stablecoins and tokenized assets make XRP more or less useful as a bridge? · What is the XRP liquidity flywheel, and is it running? · What kinds of capital and roles form around XRP in tokenized finance? · How much RLUSD exists, and how fast is it growing? · Will RLUSD and other stablecoins replace XRP? · Does tokenization on the XRP Ledger create any demand for XRP? · How much has XRP's institutional position changed since the SEC case? · What does Ripple do today, and is it just a company that sells XRP? · Is the XRP bull case simply that banks will use it, and do all its uses have to succeed together? · Could direct stablecoin pairs make XRP unnecessary on its own ledger? · What is Ripple Mint, and what does it say about RLUSD use? · What has to happen, in order, for XRP credit to scale? · Does Ripple Prime accept XRP as collateral? · What are the possible structural outcomes for XRP? · Is XRP's valuation justified by activity on the XRP Ledger? · Can RLUSD always be redeemed for dollars, and what happens to holders if its issuer fails? · What is a trust line, and how do I check that a token on the XRP Ledger is genuine? · Can I borrow RLUSD against XRP without selling it? · What are the risks of earning yield on XRP through AMM pools or wrapped XRP? · Does Ripple's success mean XRP's price goes up? · How much stablecoin value is on the XRP Ledger, and how fast is it growing? · What backs RLUSD, Ripple's stablecoin? · How much credit is being created against XRP, and can it be measured? · What developments would show the U.S. government is actually using XRP? · Is using stablecoins to boost demand for US Treasuries official policy, and does it involve XRP? · Can an RLUSD payment route through XRP automatically? · What are DBS and Franklin Templeton doing with RLUSD? · Can companies get repo financing through Ripple Treasury? · How do XRP, RLUSD and tokenized Treasuries fit together on one ledger? · How does Ripple's payment system decide whether to route a payment through XRP? · Is DeFi TVL a good measure of XRP liquidity, and what should be measured instead? · Is institutional capital actually flowing into XRP in 2026? · How long would XRPL liquidity take to reach $5B to $250B at 2026 growth rates? · What digital-asset features does Ripple Treasury have? · Can tokenized Treasuries and funds be turned into cash or credit? · Are tokenized US Treasuries live on the XRP Ledger?
SBI
SBI, or the SBI Group, is a financial institution that Coinpaper described in May 2026 as central to bringing distributed ledger technology into payment services in Japan.
Covered in: How is Evernorth different from an XRP ETF? · What is Evernorth, who backs it, and how much XRP does it hold? · What is in the XRP and Ripple pipeline for Q4 2026? · Where is RLUSD available, and who uses it? · Is using XRP for cross-border payments actually cheaper? · Do banks actually use XRP? · How does SBI use XRP for Japan remittances?
SEC
The SEC, short for the Securities and Exchange Commission, is the US agency whose job is to protect investors, keep markets fair and orderly, and help businesses raise money.
Covered in: What is Evernorth doing with its XRP, and how does it plan to earn yield? · How is Evernorth different from an XRP ETF? · What is an XRP ETF, and when were they approved? · What is Evernorth, who backs it, and how much XRP does it hold? · Which XRP ETFs exist, what do they charge, and how are they regulated? · Does the Ripple ruling bind other courts or settle the status of other tokens? · Is XRP a security? · How much did Ripple have to pay the SEC? · Why did exchanges freeze or delist XRP during the lawsuit? · What's still unresolved now that the lawsuit is over? · What is the history of XRP? · Where can I find trustworthy, current XRP news? · How much has XRP's institutional position changed since the SEC case? · What does Evernorth's Nasdaq listing change, and is it new buying of XRP? · Could a future US government reverse XRP's regulatory position? · What was the SEC vs Ripple lawsuit about? · Why were XRP sales to institutions treated differently? · How is XRP classified and regulated outside the US (EU, UK, Japan, Singapore, Canada)? · Do XRP ETFs hold real XRP, or is it synthetic exposure? · Is the SEC vs Ripple case over, and who won? · What did MoneyGram's use of XRP prove, and was ODL volume organic?
Self-custody
Self-custody means a crypto investor holds the private keys that control their crypto assets themselves, rather than having a service provider store those keys for them.
Covered in: How do I limit the personal data that links me to my crypto holdings? · Is owning an XRP ETF the same as, or safer than, owning XRP? · Do I have to report XRP held on a foreign platform or in self-custody on foreign-property or foreign-account forms? · Should I spread my XRP across several exchanges and wallets? · Which wallet is best for XRP, and how do I choose one without getting a fake or flawed one? · Where should I keep my XRP: on the exchange or in my own wallet? · How do buying and selling XRP work, and where can people do it? · What's the biggest single cause of crypto losses for ordinary people? · What happened with the D'CENT wallet hack, and am I affected?
Signing-system attack
A signing-system attack exploits how the XRP Ledger checks signatures. One flaw found in February 2026 could have let an attacker move other people's funds without their private keys.
Covered in: How much should I keep in a hot wallet versus cold storage? · How do crypto exchanges actually get hacked if they use cold wallets? · What is air-gapped signing, and do I need it? · What happened in the September 2026 Bitget theft, and were customers' funds affected?
SIM swap
A SIM swap is when criminals trick a phone company into moving a victim's number to a SIM card they control, to break into digital currency accounts.
Covered in: How do I secure my account on a crypto trading platform (security keys, withdrawal allowlists, alerts)? · Can someone steal my crypto through my phone number (SIM swap)?
Single Asset Vault
A single asset vault is an XRP Ledger feature that pools one kind of asset from many depositors and makes it available to other on-ledger protocols, such as lending.
Covered in: How does the XRP Ledger's native lending protocol work? · What happens to an XRP-backed loan if XRP's price drops? · What compliance features does the XRP Ledger offer institutions?
Solana
Solana is a smart contract platform built for high throughput, where much of crypto's DeFi and memecoin activity takes place, CoinDesk wrote in April 2026.
Covered in: Could Ethereum or Solana become the universal bridge instead of XRP? · How does XRP Ledger activity compare with Ethereum, Solana and Stellar on the same measures? · Can XRP be used on other blockchains like Ethereum and Solana? · Is XRP's CME futures growth XRP-specific, and how does it compare with bitcoin, ether and Solana?
Split backup
A split backup, which Trezor calls Shamir backup, divides a crypto wallet's backup into several unique recovery shares, and a set number of them together recovers the wallet.
Covered in: How do I keep my XRP wallet, keys and recovery phrase safe?
Spread
A spread is the gap between the bid price and the asked price of a security, as the SEC described it in December 2003.
Covered in: What fees do I really pay to buy XRP, and what's cheapest? · Where does XRP trade, and how much of its reported trading volume is real? · Are crypto ATMs a safe or sensible way to buy XRP? · How do buying and selling XRP work, and where can people do it?
Stablecoins
The UK Financial Conduct Authority describes qualifying stablecoins as cryptoassets that try to keep a steady value by referencing one or more government-issued (fiat) currencies.
Covered in: Is there another neutral bridge asset as good as XRP? · Could Ethereum or Solana become the universal bridge instead of XRP? · Why might an institution choose not to use XRP? · Could stablecoins help America's debt problem? · Is the US government coordinating with Ripple around XRP, or is that pure speculation? · Does XRP conflict with US dollar dominance? · How big is global stablecoin transaction volume? · Who earns the interest on RLUSD's reserves, and does any of it reach XRP holders? · Why do stablecoins matter for XRP liquidity? · What could XRPL stablecoin supply be by the end of 2026? · How much stablecoin value actually moves on the XRP Ledger? · How does XRP Ledger activity compare with Ethereum, Solana and Stellar on the same measures? · Do banks actually need XRP, or just Ripple's software? · Do more stablecoins and tokenized assets make XRP more or less useful as a bridge? · Will RLUSD and other stablecoins replace XRP? · Could direct stablecoin pairs make XRP unnecessary on its own ledger? · What are the possible structural outcomes for XRP? · Can RLUSD always be redeemed for dollars, and what happens to holders if its issuer fails? · What reserves must stablecoins hold under the GENIUS Act? · What has the Trump administration's crypto policy actually done? · How much stablecoin value is on the XRP Ledger, and how fast is it growing? · What backs RLUSD, Ripple's stablecoin? · Does every payment on the XRP Ledger go through XRP? · What are tokenized bank deposits, and how do they differ from stablecoins and XRP? · Who does XRP actually compete with in cross-border payments? · Is using stablecoins to boost demand for US Treasuries official policy, and does it involve XRP? · How long would XRPL liquidity take to reach $5B to $250B at 2026 growth rates?
Stellar
Stellar is a decentralized blockchain for financial products and services, launched in 2014 to link the world's financial systems with near-instant global payments and currency exchanges.
Covered in: Is there another neutral bridge asset as good as XRP? · Is Stellar (XLM) a real competitor to XRP? · What actually makes XRP different from Stellar and other fast networks: speed or integration? · What would give XRP a real competitive moat, and what stands in its way? · How do Ripple/XRP, Stellar, Circle, JPMorgan, Swift, Ethereum and Solana compare? · How does XRP Ledger activity compare with Ethereum, Solana and Stellar on the same measures?
Supply-chain attack
A supply chain attack is an incident in which an attacker targets an organization by exploiting weak points in the network of suppliers and services it depends on.
Covered in: Can a hardware wallet be hacked, and how do I verify one is genuine? · Which wallet is best for XRP, and how do I choose one without getting a fake or flawed one? · What happened with the D'CENT wallet hack, and am I affected?
Swift
SWIFT is a member-owned cooperative in Belgium that runs the main network banks use to send each other messages about cross-border payments; it does not move the money itself.
Covered in: Is XRP "ISO 20022 compliant," and does it matter? · How do Ripple/XRP, Stellar, Circle, JPMorgan, Swift, Ethereum and Solana compare? · Is XRP replacing SWIFT, or could they work together? · What is Swift's blockchain ledger, and is it live? · What are tokenized bank deposits, and how do they differ from stablecoins and XRP? · Who does XRP actually compete with in cross-border payments?
Theft-loss deduction
The IRS covers the theft loss deduction in Publication 547, which lists it as a limited deduction and addresses losses from Ponzi-type investment schemes and financial scams. The IRS covers it in Publication 547 and says the deduction is limited.
Covered in: Can I deduct crypto I lost to a scam? · What happened in the September 2026 Bitget theft, and were customers' funds affected?
Tokenization
Tokenization is creating assets, or digital stand-ins for existing assets, on a shared digital ledger that people trust and that can run programmed rules.
Covered in: What happened in the XRP ecosystem in each quarter of 2026? · Do any US states, foreign governments or central banks hold or use XRP or the XRP Ledger? · What is the strongest bullish case for XRP, and is there evidence for it? · How much tokenized asset value is on the XRP Ledger? · Do more stablecoins and tokenized assets make XRP more or less useful as a bridge? · Does tokenization on the XRP Ledger create any demand for XRP? · How big is tokenized repo and collateral movement on other platforms, and where does the XRP Ledger stand? · Are XRPL institutional announcements actually becoming live products? · How does the XRP Ledger compare with Canton, Hedera and other institution-focused chains? · Is Dubai putting property titles on the XRP Ledger? · How big could the tokenized-asset market get, and how reliable are the forecasts? · Is the XRP Ledger's $4 billion tokenization figure real, and how much is tradable? · What do tokenized markets need, and is XRPL built for it? · Is institutional capital actually flowing into XRP in 2026? · Can tokenized Treasuries and funds be turned into cash or credit?
Tokenized deposits
A tokenised deposit is a bank deposit whose balance is recorded on a distributed ledger instead of a traditional bank ledger, and it still counts legally as a deposit.
Covered in: Do central bank digital currencies and multi-CBDC platforms such as mBridge compete with XRP? · Is JPMorgan's JPM Coin or Kinexys a competitor to XRP? · Why might an institution choose not to use XRP? · Is XRP replacing SWIFT, or could they work together? · What is Swift's blockchain ledger, and is it live? · What are tokenized bank deposits, and how do they differ from stablecoins and XRP? · Who does XRP actually compete with in cross-border payments?
Tokenized Treasuries
Tokenized Treasuries are U.S. Treasury paper moved onto a blockchain, such as the XRP Ledger, where investors hold and move them through their own wallets.
Covered in: What does BlackRock have to do with XRP? · How big is tokenized repo and collateral movement on other platforms, and where does the XRP Ledger stand? · How do XRP, RLUSD and tokenized Treasuries fit together on one ledger?
Total value locked (TVL)
Total value locked (TVL) is the total value of digital assets currently deposited, or "locked," in a DeFi protocol, a platform or a whole blockchain ecosystem, usually measured in US dollars.
Covered in: How much activity is on the XRP Ledger right now? · How does XRP Ledger activity compare with Ethereum, Solana and Stellar on the same measures? · How much XRP Ledger activity is bots, spam or wash trading? · Is XRP's valuation justified by activity on the XRP Ledger? · What is FXRP, and how much of it is actually being used? · Is DeFi TVL a good measure of XRP liquidity, and what should be measured instead? · How much liquidity is in XRPL AMMs, and why do figures differ?
Transaction cost
The transaction cost is a small amount of XRP that every XRP Ledger transaction must destroy, protecting the network from spam and denial-of-service attacks.
Covered in: Why must I deposit XRP before a new wallet works? · What fees do I really pay to buy XRP, and what's cheapest? · Do XRP fee burns make XRP scarce? · How much XRP Ledger activity is bots, spam or wash trading? · What does it cost to send XRP, and how fast is it? · How do I look up and read an XRP Ledger transaction on a public explorer?
Transaction hash
A transaction hash is the identifying hash of an XRP Ledger transaction. Some ledger entries have an optional PreviousTxnID field that, when present, holds the identifying hash of the previous transaction to modify that entry, according to the XRP Ledger documentation on transaction metadata.
Covered in: What records do I need to keep and report for crypto taxes? · How do I spot and report an XRP scam, and what do I do if I've been scammed? · What is a destination tag, and what if I forgot it? · My XRP transfer hasn't arrived or went to the wrong place. What now? · Can a crypto transfer be reversed? · How do I look up and read an XRP Ledger transaction on a public explorer? · How do I work out my cost basis and gain on XRP bought at different times and prices?
Trust line
On the XRP Ledger, a trust line lets two accounts trade a defined currency up to a set limit, and a receiving account needs one before it can trade standard tokens.
Covered in: Why are there strange tokens, airdrops or messages in my XRP wallet, and should I claim them? · What is a trust line, and how do I check that a token on the XRP Ledger is genuine? · Why is some of my XRP locked (the reserve), and can I get it back?
Two-factor authentication
Two-factor authentication is a login safeguard that asks you to prove who you are with two different kinds of proof, such as a password plus a second factor.
Covered in: How do I secure my account on a crypto trading platform (security keys, withdrawal allowlists, alerts)? · Can someone steal my crypto through my phone number (SIM swap)?
Unique Node List (UNL)
The Unique Node List (UNL) is a periodically updated list of recommended validators that XRP Ledger servers trust by default, provided through sites run by the XRPL Foundation and Ripple.
Covered in: What would happen to XRP and the XRP Ledger if Ripple failed? · Has the XRP Ledger ever halted, forked or lost funds since 2012, and what happened? · Does the default validator list make the XRP Ledger centralized? · How do XRP Ledger upgrades (amendments) get approved, and who decides? · How is XRP kept secure if it isn't mined?
US Treasuries
US Treasuries are securities the United States government sells to investors to raise the money it needs, backed by the full faith and credit of the United States government.
Covered in: Can XRP be used as collateral like US Treasuries? · Could stablecoins help America's debt problem? · Does XRP conflict with US dollar dominance? · Who earns the interest on RLUSD's reserves, and does any of it reach XRP holders? · Can RLUSD always be redeemed for dollars, and what happens to holders if its issuer fails? · What are the scheduled US inflation and jobs reports, and why do crypto commentators cite them? · Why does the US government care so much about demand for Treasuries?
USDC
USDC is a stablecoin pegged to the U.S. dollar one-for-one, with each coin in circulation backed by $1 held in reserve.
Covered in: Is Stellar (XLM) a real competitor to XRP? · Can USDC and Circle do cross-border payments without XRP? · How is an XRP bridge different from using a stablecoin like USDC? · How do Ripple/XRP, Stellar, Circle, JPMorgan, Swift, Ethereum and Solana compare? · Do banks actually need XRP, or just Ripple's software? · Could direct stablecoin pairs make XRP unnecessary on its own ledger?
Validators
Validators are XRP Ledger servers that relay and process transactions like other servers, and also help advance the ledger history by agreeing which transactions enter each ledger.
Covered in: What would happen to XRP and the XRP Ledger if Ripple failed? · Does Ripple control XRP or the XRP Ledger, and can it freeze my coins? · What's the difference between Ripple, XRP and the XRP Ledger? · Why do so many crypto people dislike XRP (the "XRP Army" critique)? · Who writes and pays for the XRP Ledger's software, and could it continue without Ripple? · Has the XRP Ledger ever halted, forked or lost funds since 2012, and what happened? · Does the default validator list make the XRP Ledger centralized? · How does the XRP Ledger compare with Canton, Hedera and other institution-focused chains? · How do XRP Ledger upgrades (amendments) get approved, and who decides? · How is XRP kept secure if it isn't mined? · Is native lending live on the XRP Ledger yet?
Valuation model
Company filings describe the valuation models they use in their fair value disclosures. In an SEC filing, one company says its Level 2 instruments are valued using models that are primarily industry-standard, with assumptions such as quoted forward prices for commodities, time value, volatility factors and current market and contractual prices.
Covered in: Is future adoption already priced into XRP? · What does bank payment use imply per XRP, and what does the evidence support? · How can you build an XRP valuation model that isn't a price target?
Value capture
Value capture is how well a blockchain project turns the economic activity it generates into real benefits for its token and the people who hold it.
Covered in: What is XRP's value-capture problem, and how would it be measured? · Who earns the interest on RLUSD's reserves, and does any of it reach XRP holders? · Is XRP dead, a scam, or a failed experiment? · Why do so many crypto people dislike XRP (the "XRP Army" critique)? · Is most XRP activity speculation rather than real use?
Velocity (turnover)
Velocity, or turnover, is how fast an asset like XRP changes hands. A bridge asset can be traded heavily while being bought and sold again quickly.
Covered in: What does the evidence say about how much XRP liquidity a share of global payments would need? · How much trading does XRPL DEX liquidity support relative to its size? · Does one dollar of XRP support more than one dollar of financial activity? · How can you build an XRP valuation model that isn't a price target?
Volatility
Volatility is how much prices move up and down. Bigger swings mean higher volatility and more potential risk.
Covered in: How volatile is XRP, and how closely does its price move with bitcoin and the wider crypto market? · What does the evidence show about the risks of holding XRP, and how risky is it? · What are the scheduled US inflation and jobs reports, and why do crypto commentators cite them?
Wallet drainer
A wallet drainer is a malicious Web3 scam that tricks you into approving a transaction, permission or signature that lets an attacker move your tokens or NFTs.
Covered in: What is a malicious signing request or wallet drainer? · Why are there strange tokens, airdrops or messages in my XRP wallet, and should I claim them?
Whales
Whales are people or organizations that hold so much of a cryptocurrency that their buying or selling can move its price.
Covered in: Where does XRP trade, and how much of its reported trading volume is real? · How was the original 100 billion XRP distributed, and how much have the founders sold? · Are XRP whales accumulating, and does that mean institutions are buying?
Wrapped XRP
Wrapped XRP, shortened to wXRP, is listed by Ripple under multichain connectivity: it brings XRP to EVM-based chains and Solana.
Covered in: Can XRP be used on other blockchains like Ethereum and Solana?
Wrench attack
A wrench attack is a physical attack where someone uses violence, or threatens it, to force a cryptocurrency holder to hand over their assets.
Covered in: How do I limit the personal data that links me to my crypto holdings? · Are people really being attacked physically for crypto?
XRP
XRP is the cryptocurrency supported by the XRP Ledger, an open-source blockchain, and the XRPL documentation says it allows faster cost-effective transactions.
Covered in: Is there another neutral bridge asset as good as XRP? · What would give XRP a real competitive moat, and what stands in its way? · Why might an institution choose not to use XRP? · How is an XRP bridge different from using a stablecoin like USDC? · What is a hedged XRP carry trade, and is anyone running one? · How do lenders and market makers hedge XRP price risk? · What is cross-margining, and can institutions cross-margin XRP through Ripple Prime? · Why could lending and collateral use matter for XRP? · Can XRP be used as margin for futures, options and perpetuals, and where? · What happens to an XRP-backed loan if XRP's price drops? · Can XRP be used as collateral like US Treasuries? · Do XRP ETF purchases make XRP scarcer? · Has the US government officially chosen XRP for any role? · Is XRP a security? · Is the US government coordinating with Ripple around XRP, or is that pure speculation? · Why did exchanges freeze or delist XRP during the lawsuit? · Does XRP conflict with US dollar dominance? · What's still unresolved now that the lawsuit is over? · Do Ripple's trillion-dollar figures mean trillions are flowing into XRP? · Do XRP fee burns make XRP scarce? · What does the evidence say about XRP as a long-term holding? · How many XRP exist, why so many, and can Ripple create more? · Is Ripple dumping XRP on holders? · What are the different kinds of XRP risk, and which have fallen? · What is the strongest bullish case for XRP, and is there evidence for it? · Are the viral XRP rumors and "supercycle" claims true? · What market value would a given XRP price imply, and what does the evidence say it would take? · Who owns the most XRP, and how many people hold it? · Why isn't XRP's price going up, even with more adoption? · Is XRP ecosystem growth exponential, and will 2026's growth rates continue? · Can ETF, treasury, DeFi and derivatives XRP be added together? · What does the evidence say about how much XRP liquidity a share of global payments would need? · What is XRP's price and market cap, and what has its price history been? · What is XRP's value-capture problem, and how would it be measured? · What is the history of XRP? · Is XRP dead, a scam, or a failed experiment? · Is buying XRP the same as owning part of Ripple? · What's the difference between Ripple, XRP and the XRP Ledger? · What is the XRP Ledger, and is it a real blockchain? · Why do so many crypto people dislike XRP (the "XRP Army" critique)? · How do XRP Ledger AMMs work, and can XRP holders earn fees in them? · What is auto-bridging on the XRP Ledger, and is it real or marketing? · Can AI agents and machines pay with XRP? · How could borrowed XRP support a cross-border payment? · How big is the cross-border payments market XRP competes for? · Do banks and businesses need to hold XRP for it to be used? · Do Ripple partnership announcements mean demand for XRP? · Do banks actually need XRP, or just Ripple's software? · Does XRP need to replace money to succeed? · How deep is XRP's market liquidity, and is it enough for global settlement? · How much of Ripple's payment volume actually uses XRP? · How does Ripple's On-Demand Liquidity (ODL) use XRP? · Is most XRP activity speculation rather than real use? · Why do market makers hold XRP, and are they betting on its price? · Is XRP used for payments outside Ripple's own products? · What kinds of capital and roles form around XRP in tokenized finance? · What is actually holding XRP adoption back: technology or activation? · Is Ripple a public company? Who owns it, and can I buy Ripple stock? · Will RLUSD and other stablecoins replace XRP? · What is XRP? · Is an XRP liquidity multiplier just leverage? · How much has XRP's institutional position changed since the SEC case? · What does the evidence show about the risks of holding XRP, and how risky is it? · Is the XRP bull case simply that banks will use it, and do all its uses have to succeed together? · What does the public evidence show about what drives XRP's price? · Is XRP valued as a payment coin or as a liquidity and collateral asset? · Why does liquidity depth matter for XRP as a bridge? · Does Ripple Prime accept XRP as collateral? · What are the possible structural outcomes for XRP? · Is XRP's valuation justified by activity on the XRP Ledger? · Is XRP replacing SWIFT, or could they work together? · Is XRP being institutionalized faster than Bitcoin was? · Is XRP already used as collateral and credit, or is that still in the future? · Could XRP lending create a self-reinforcing feedback loop? · What was the SEC vs Ripple lawsuit about? · Does Ripple's success mean XRP's price goes up? · Will XRP run out ("supply shock")? How much XRP is actually available to trade? · Is future adoption already priced into XRP? · What do published XRP price forecasts assume, and what does the evidence say about why they disagree? · Does one dollar of XRP support more than one dollar of financial activity? · Does every payment on the XRP Ledger go through XRP? · What does it cost to send XRP, and how fast is it? · Who does XRP actually compete with in cross-border payments? · How does XRP compare with Bitcoin and other major coins? · How much credit is being created against XRP, and can it be measured? · How much can you borrow against XRP, and who sets the haircut? · How much institutionally held XRP could be put to work without new buyers? · Is the SEC vs Ripple case over, and who won? · Is the US using XRP to pay off the national debt? · What is the XRP escrow, and what happens when it runs out? · How do you measure how much XRP is actually being used? · What does bank payment use imply per XRP, and what does the evidence support? · Are XRP whales accumulating, and does that mean institutions are buying? · What does "XRP" stand for? · How does Ripple's payment system decide whether to route a payment through XRP? · How does SBI use XRP for Japan remittances? · Is XRP payment routing live, and has it proven it can win routes? · Do market makers need to own all the XRP liquidity they provide? · What did MoneyGram's use of XRP prove, and was ODL volume organic? · Can the same XRP be held, hedged and put to work at once? · How much XRP do institutions hold, and how much is actually put to work? · Why did Trump name XRP for a US crypto reserve? · How can you build an XRP valuation model that isn't a price target? · How does XRP work as a bridge between currencies? · How far did Ripple's ODL expand around the world? · What is XRP actually used for?
XRP ETF
An XRP ETF is an exchange-traded fund offering spot exposure to XRP, the XRP Ledger's native token; Purpose Investments launched one in Toronto on June 18, 2025.
Covered in: How do I buy an XRP ETF, including in Canada or in a retirement account? · Is owning an XRP ETF the same as, or safer than, owning XRP? · What does BlackRock have to do with XRP? · Do XRP ETF purchases make XRP scarcer? · How is Evernorth different from an XRP ETF? · How much XRP do the US spot XRP ETFs hold, and is it growing? · Can regulated institutions safely custody XRP? · What is an XRP ETF, and when were they approved? · Which XRP ETFs exist, what do they charge, and how are they regulated? · Who owns XRP ETFs, and what do 13F filings really show? · What happened in the XRP ecosystem in each quarter of 2026? · What are the different kinds of XRP risk, and which have fallen? · What is the strongest bullish case for XRP, and is there evidence for it? · What should I watch instead of the XRP price? · Why isn't XRP's price going up, even with more adoption? · Can ETF, treasury, DeFi and derivatives XRP be added together? · What is the XRP liquidity flywheel, and is it running? · What kinds of capital and roles form around XRP in tokenized finance? · Where can I find trustworthy, current XRP news? · Are XRP ETF shares being used as repo collateral, and did Schwab buy XRP? · How much has XRP's institutional position changed since the SEC case? · Where has liquid XRP gone in 2026, and is the '50% drop on exchanges' true? · Is XRP being institutionalized faster than Bitcoin was? · Does XRP meet the tests for institutional collateral? · Did (or will) the spot ETFs push XRP's price up? · Does XRP held by ETFs just sit idle? · Will XRP run out ("supply shock")? How much XRP is actually available to trade? · What do published XRP price forecasts assume, and what does the evidence say about why they disagree? · Do XRP ETFs hold real XRP, or is it synthetic exposure? · Can institutions reliably price XRP for collateral and fund valuation? · How much institutionally held XRP could be put to work without new buyers? · How do XRP ETF creations and redemptions work, and who moves the XRP? · How do you measure how much XRP is actually being used? · Are XRP whales accumulating, and does that mean institutions are buying? · How much XRP do institutions hold, and how much is actually put to work? · Is institutional capital actually flowing into XRP in 2026?
XRP futures and options
XRP futures are exchange contracts in which one contract represents 50,000 XRP. Options on them let the holder buy (a call) or sell (a put) one such futures contract.
Covered in: What is a hedged XRP carry trade, and is anyone running one? · How big is CME XRP futures trading, and how fast has it grown? · What is Evernorth doing with its XRP, and how does it plan to earn yield? · Can XRP be hedged on regulated markets, and why does that matter? · Is XRP's CME futures growth XRP-specific, and how does it compare with bitcoin, ether and Solana?
XRP Ledger (XRPL)
The XRP Ledger, or XRPL, is a decentralized public blockchain for creating, transferring and exchanging digital assets, built with a focus on compliance.
Covered in: What actually makes XRP different from Stellar and other fast networks: speed or integration? · What would give XRP a real competitive moat, and what stands in its way? · Does XRP credit depend on native XRPL lending? · How does the XRP Ledger's native lending protocol work? · What is Evernorth doing with its XRP, and how does it plan to earn yield? · What can a company do with XRP held in its treasury? · What happened in the XRP ecosystem in each quarter of 2026? · Do any US states, foreign governments or central banks hold or use XRP or the XRP Ledger? · Has the US government officially chosen XRP for any role? · What would happen to XRP and the XRP Ledger if Ripple failed? · Do XRP fee burns make XRP scarce? · What is the strongest bullish case for XRP, and is there evidence for it? · What should I watch instead of the XRP price? · Is XRP ecosystem growth exponential, and will 2026's growth rates continue? · What does the evidence say about how much XRP liquidity a share of global payments would need? · What is the Ripple and Bitso MXNB stablecoin on the XRP Ledger? · How much XRPL trading involves RLUSD, and how much of it is against XRP? · What is RLUSD, and what does it mean for XRP? · Why do stablecoins matter for XRP liquidity? · How deep is XRP/RLUSD liquidity on the XRPL DEX? · What could XRPL stablecoin supply be by the end of 2026? · How much stablecoin value actually moves on the XRP Ledger? · Does Ripple control XRP or the XRP Ledger, and can it freeze my coins? · What is the history of XRP? · What's the difference between Ripple, XRP and the XRP Ledger? · What is the XRP Ledger, and is it a real blockchain? · What is Aviva Investors doing on the XRP Ledger? · What is collateral mobility, and why did Ripple invest in ZILO and Licuido? · What was the JPMorgan, Mastercard and Ondo tokenized Treasury redemption on XRPL? · How much tokenized asset value is on the XRP Ledger? · How do XRP Ledger AMMs work, and can XRP holders earn fees in them? · Is XRP Ledger usage growing or shrinking? · Can institutions use XRPL AMMs through Ripple's APIs? · What is auto-bridging on the XRP Ledger, and is it real or marketing? · Who writes and pays for the XRP Ledger's software, and could it continue without Ripple? · How much activity is on the XRP Ledger right now? · What features does the XRP Ledger have today, and what new ones (like lending) are coming? · Has the XRP Ledger ever halted, forked or lost funds since 2012, and what happened? · Is XRP's cryptography at risk from quantum computers? · How much XRP Ledger activity is bots, spam or wash trading? · How much trading does XRPL DEX liquidity support relative to its size? · How much trading happens on the XRPL DEX, and is it growing? · Can AI agents and machines pay with XRP? · How deep is XRP's market liquidity, and is it enough for global settlement? · Do more stablecoins and tokenized assets make XRP more or less useful as a bridge? · What is the XRP liquidity flywheel, and is it running? · How does XRP Ledger pathfinding route payments? · What is actually holding XRP adoption back: technology or activation? · How much RLUSD exists, and how fast is it growing? · Will RLUSD and other stablecoins replace XRP? · What is XRP? · Does tokenization on the XRP Ledger create any demand for XRP? · Where can I find trustworthy, current XRP news? · Could direct stablecoin pairs make XRP unnecessary on its own ledger? · Are XRPL institutional announcements actually becoming live products? · What are the possible structural outcomes for XRP? · Is XRP's valuation justified by activity on the XRP Ledger? · How does the XRP Ledger compare with Canton, Hedera and other institution-focused chains? · What are the risks of earning yield on XRP through AMM pools or wrapped XRP? · Does XRP held by ETFs just sit idle? · Does Ripple's success mean XRP's price goes up? · How much stablecoin value is on the XRP Ledger, and how fast is it growing? · Is Dubai putting property titles on the XRP Ledger? · Does every payment on the XRP Ledger go through XRP? · How do XRP Ledger upgrades (amendments) get approved, and who decides? · How is XRP kept secure if it isn't mined? · Does the XRP Ledger support smart contracts (Hooks, the EVM sidechain), and does that matter for XRP? · What does it cost to send XRP, and how fast is it? · What compliance features does the XRP Ledger offer institutions? · What developments would show the U.S. government is actually using XRP? · How do you measure how much XRP is actually being used? · Is money going into XRP infrastructure ahead of real demand? · Can an RLUSD payment route through XRP automatically? · What does "XRP" stand for? · Is the XRP Ledger's $4 billion tokenization figure real, and how much is tradable? · What do tokenized markets need, and is XRPL built for it? · How do XRP, RLUSD and tokenized Treasuries fit together on one ledger? · Is native lending live on the XRP Ledger yet? · Is XRP payment routing live, and has it proven it can win routes? · Is DeFi TVL a good measure of XRP liquidity, and what should be measured instead? · Is institutional capital actually flowing into XRP in 2026? · How long would XRPL liquidity take to reach $5B to $250B at 2026 growth rates? · Can tokenized Treasuries and funds be turned into cash or credit? · Are tokenized US Treasuries live on the XRP Ledger? · How much liquidity is in XRPL AMMs, and why do figures differ? · What is XRP actually used for?
XRP Ledger Lending Protocol
XRPL.org documentation describes the Lending Protocol as an XRP Ledger DeFi primitive designed to enable on-chain, fixed-term, uncollateralized loans using pooled funds from a Single Asset Vault, and its own navigation lists Lending as "Open for Voting", so it is not yet live.
Covered in: Does XRP credit depend on native XRPL lending? · How does the XRP Ledger's native lending protocol work? · What kinds of XRP credit exist today? · Why could lending and collateral use matter for XRP? · What is Evernorth doing with its XRP, and how does it plan to earn yield? · What is in the XRP and Ripple pipeline for Q4 2026? · What would show the XRP institutional thesis is working next year? · Is XRP ecosystem growth exponential, and will 2026's growth rates continue? · What is actually holding XRP adoption back: technology or activation? · Is the XRP bull case simply that banks will use it, and do all its uses have to succeed together? · What has to happen, in order, for XRP credit to scale? · How much credit is being created against XRP, and can it be measured? · Which parts of the XRP institutional stack are live today, and which are still waiting? · Is native lending live on the XRP Ledger yet? · Can the same XRP be held, hedged and put to work at once?
XRP treasury company
An XRP treasury company is a publicly listed company that raises money to buy and hold XRP, as VivoPower described itself in an SEC filing.
Covered in: Is Ripple a public company? Who owns it, and can I buy Ripple stock? · What does Evernorth's Nasdaq listing change, and is it new buying of XRP? · Which public companies besides Evernorth hold XRP in their treasury, and how much? · Could an XRP treasury company be forced to sell its XRP?
XRPFi
XRPFi is moving XRP into programmable finance so it can be lent, staked, traded or used as collateral rather than simply held, as Flare described it in May 2026.
Covered in: What kinds of XRP credit exist today? · Is XRP already used as collateral and credit, or is that still in the future? · What is FXRP, and how much of it is actually being used? · Can I earn yield on XRP without selling it?
Yield
Yield measures how much income an investment pays over a set period, usually a year, compared with its price, and it is normally shown as a percentage.
Covered in: How are XRP yield, lending income, AMM fees and airdrops taxed? · What happened to XRP held with crypto lenders that collapsed in 2022? · What does the public evidence show about what drives XRP's price?