XRP (XRP)
XRP ranks #4 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #6: 2 of the 5 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 2 non-native assets CoinSpectrum lists above it by market cap, all are claims on other assets.
| CoinSpectrum Grade | A · 68/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #4 |
| Rank counting claims | #6 |
| Market capitalisation | $67.2B |
| Price | $1.06 |
| Circulating supply | 63,516,606,953 XRP |
| Maximum supply | 100,000,000,000 XRP |
| Consensus family | Federated |
| Consensus mechanism | XRP Ledger Consensus (RPCA, federated) |
| Active addresses a day | 40,646 October 2026 median, Coin Metrics |
| Network purpose | Settlement ledger |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
| Regulatory class | Commodity |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
A — 68 out of 100, provisional (from 10 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 64 to 71 (A to A).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 8.2 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 8.2 | Federated: 8.2 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 8.2 | Federated: 8.2 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 6 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 5.6 | fixed maximum supply of 100 billion |
| Distribution | 6.3 | average of 4 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | 7.1 | 40,646 addresses active a day, the median of October 2026's 31 days (Coin Metrics community data) source |
| Premine (allocated at launch) | 0 | 100% of today's supply allocated at launch to founders, a company, a foundation or investors. All 100B XRP were created in the genesis ledger (June 2012) and none can ever be minted; the founders gifted 80B to OpenCoin/Ripple and kept 20B; current total 99,985,585,817 XRP (XRPL validated ledger, 2026-10-23) after fee burns. source |
| Fundraising (share sold) (Source) | 7.9 | Sold by its issuer or insiders: 21.5% of supply sold. Lower bound from court records: per the SEC complaint (Dec 2020) Ripple sold 3.9B XRP in market sales (2014-2019), 4.9B in institutional sales (2013-Q3 2020) and 1.63B via option exercises (2018-2019), and insiders Larsen (1.7B) and Garlinghouse (0.321B) sold personally; co-founder Jed McCaleb sold his ~9B founder allocation 2014-2022. 21.45B / 99,985.6M XRP total (XRPL, 2026-10-23) = 21.5%; Ripple's post-Q3-2020 ODL and institutional sales are not disclosed in units and would add to this. Ripple sold company-held XRP directly to institutional buyers; the SEC v. Ripple court (Judge Torres, July 2023) found about $728.9M of institutional XRP sales were unregistered securities offerings, separate from ~$757M of programmatic exchange sales. Ripple Labs also raised equity venture rounds. No public ICO. source |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners or validators who produce blocks. No block reward exists: all 100B XRP were created in the 2012 genesis ledger and the protocol cannot mint more; transaction fees are destroyed, not paid to anyone. source |
| Decentralisation | 4 | average of 3 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: Issuers can freeze or claw back their own issued tokens, but no party can freeze, blacklist or claw back native XRP; the 2025-02-04 stall was a consensus failure, not a halt at will. source |
| No central team (Source) | 0 | A central team directs it: rippled (xrpld) is published under the ISC licence in the XRPLF GitHub organisation, but Ripple employs nearly all of its core developers and sets the protocol roadmap. source |
| Who can mint (Source) | 2 | Gated by registration: producers admitted by name, licence or company registration: an allow list, federation, council or proof of authority |
| Nodes (Source) | – | Not yet counted |
| Security | 8.5 | 6.8 of 8 points source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | 10 | largest 2.9%, largest three 8.6% |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 10 | about 1,560,000 transactions a day |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 1 | not mined: another consensus, 1 |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | 7 | one client, latest version Oct 2026 |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | 6.8 | average of 4 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.000026 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 8.2 | about 850 simple transactions a second |
| Block time (10 minutes 10, less either side) | 2.2 | a block every 4 seconds |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | – | no fixed byte limit (gas, compute units or mass instead), left out |
| Features (3 checks) | 6.7 | 2 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✓ | Ledgers close and are final in about 3-5 seconds under the XRP Ledger consensus protocol, with no probabilistic re-orgs. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | rippled online_delete keeps only a configured number of recent ledger versions. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | No light-client protocol in rippled; client libraries query servers they must trust. |
| Privacy | 3.5 | 3.5 of 10: whitepaper privacy 3.5 of 7, extra features 0 of 3, 1 not yet researched source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Any keypair becomes an account once funded with the reserve; rippled carries no identity check (issuer-side authorization applies only to issued tokens). |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 0 | An account ledger: one running balance for each address, so the remainder stays at the sending address and its payments share one public history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 0 | No confidential transactions on mainnet; amounts are public. |
| Hidden parties (Sender and receiver hidden) | 0 | No protocol-level sender or receiver hiding. |
| Network privacy (Origin hidden by default) | 0 | rippled relays transactions directly to peers; no Dandelion or built-in Tor. |
| Programmability | 6.7 | 6 of 9 points source |
| Token issuance (At protocol level) | 2 | Issued currencies (trust-line tokens) native to the XRP Ledger protocol, open to any funded account, joined by Multi-Purpose Tokens in 2025. |
| Smart contracts | 0 | Fixed transaction types only (payments, offers, escrow, checks, channels); the SmartEscrow amendment (XLS-100) is still in development and no WASM contract amendment is enabled. |
| Multisig and time locks (Without a third party) | ✓ | Native multi-signing (SignerList, MultiSign amendment enabled) and time-based escrow (FinishAfter/CancelAfter, Escrow amendment enabled). |
| Atomic swaps (With other chains) | ✓ | Conditional escrow with a PREIMAGE-SHA-256 crypto-condition plus CancelAfter expiry, a hash-locked, time-locked contract in the ledger rules. |
| Native DEX (Trades the coin itself, not a claim) | ✓ | Traded as itself, not as a wrapped token or a claim: an exchange in its own protocol (Central limit order book DEX built into the ledger, joined by the XLS-30 AMM (AMM amendment enabled) and the PermissionedDEX amendment); THORChain. |
| Cross-chain messaging (Verified by the chain itself) | ✗ | The XChainBridge amendment (witness-server attestations) is supported by rippled but not enabled on mainnet as of October 2026. |
| NFTs (Carried by the chain's rules) | ✓ | Native NFToken objects (XLS-20, NonFungibleTokensV1_1 enabled), with DynamicNFT also enabled. |
| Demand | 8.6 | average of 7 measures |
| Exchanges (10 or more: 10) | 10 | 43 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 9.6 | $1,149,250,325 traded in 24 hours; #6 by volume on the exchanges the site reads (scored on the median day of the last 30, $666,799,360) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 5.8 | 0.80% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 6.2 | $49,933,219 within 2% of the price on 9 exchanges, 0.07% of its market cap, median of the last 15 days; a lower bound: the books returned by 3 of them stop short of 2% |
| Market cap ($1M 0, $10B or more 10) | 10 | $67B, at the top of the scale |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8.4 | futures, options and margin positions 2.5% of its market cap |
| Wallet support (wallets that hold it, 10 or more: 10) | 10 | 17 wallets in the site's wallet directory |
| Record | 9 | average of 3 criteria |
| Age (years since genesis) (Source) | 10 | 13 full years since 2013-08-04, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 8 | 3 positive, 0 negative source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 6,651 commits in 12 of the last 12 months (github.com/XRPLF/rippled); rippled 3.4.1 released 2026-10-10 (3.4.0 2026-09-17; 3.5.0-rc1 2026-10-20). |
| Shipped a security fix in two years, +1 | ✓ | rippled 2.6.1, Sep 2025: disabled the flawed PermissionDelegation amendment after a disclosed vulnerability; 2.6.2, Nov 2025: critical bug fix. |
| Shipped a new capability for users in two years, +1 | ✓ | Amendments enabled on mainnet in 2025 include Credentials and Multi-Purpose Tokens (MPTokensV1), plus AMMClawback. |
| Conduct (origin, claims, halts) | 9 | 2 positive, 1 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| Negative record | ||
| Halt, freeze or reversal, 2025-02-04 | ✗ | XRP Ledger stopped validating ledgers for about 64 minutes after ledger 93,927,174; UNL validator operators manually picked a restart point from the last fully validated ledger, though Ripple's CTO later said only one operator intervened and the network may have self-healed. theblock.co |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
Federated coins
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Canton CCA
Pi Network PIB
MobileCoin MOBB
GUNZ GUNB
Obyte GBYTEA
XDB CHAIN XDBAll Federated chains →Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Monero XMRA+
Bitcoin Cash BCHA++
Litecoin LTCA+
Ethereum Classic ETCAAll Proof of Work chains →Supply
63,516,606,953 of a maximum 100,000,000,000 XRP are in circulation — 63.5% of the total that will ever exist.
Launch and allocation
| Premine (allocated at launch) | 100% of today's supply |
|---|---|
| Sold by the issuer or insiders | 21.5% of today's supply |
| Developer share received since launch | 0% of today's supply |
| Developer share of new coins today | 0% |
| Fundraising | Public sale |
All 100B XRP were created in the genesis ledger (June 2012) and none can ever be minted; the founders gifted 80B to OpenCoin/Ripple and kept 20B; current total 99,985,585,817 XRP (XRPL validated ledger, 2026-10-23) after fee burns.
Ripple sold company-held XRP directly to institutional buyers; the SEC v. Ripple court (Judge Torres, July 2023) found about $728.9M of institutional XRP sales were unregistered securities offerings, separate from ~$757M of programmatic exchange sales. Ripple Labs also raised equity venture rounds. No public ICO.
Lower bound from court records: per the SEC complaint (Dec 2020) Ripple sold 3.9B XRP in market sales (2014-2019), 4.9B in institutional sales (2013-Q3 2020) and 1.63B via option exercises (2018-2019), and insiders Larsen (1.7B) and Garlinghouse (0.321B) sold personally; co-founder Jed McCaleb sold his ~9B founder allocation 2014-2022. 21.45B / 99,985.6M XRP total (XRPL, 2026-10-23) = 21.5%; Ripple's post-Q3-2020 ODL and institutional sales are not disclosed in units and would add to this.
No block reward exists: all 100B XRP were created in the 2012 genesis ledger and the protocol cannot mint more; transaction fees are destroyed, not paid to anyone.
Sources: sec.gov · ripple.com · cointelegraph.com · xrpl.org · xrpl.org · xrpl.org. Researched 2026-10-24, medium confidence.
What a regulator has said
Officially a digital commodity (SEC-CFTC, Mar 2026) AND contested — its securities status was alleged or widely disputed. Both classifications apply. Context: ~100% pre-mined by Ripple at genesis.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
How CoinSpectrum ranks XRP
XRP is #4 among cryptocurrencies and #6 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 2 places between XRP's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).
See the 5 wrapped and staked claims on XRP →
Wallets that hold XRP
Read on the site
- Regulatory classes of cryptocurrencies: commodity, contested, security, unclassified · blog
- What decentralisation means: seven questions, in order of importance · blog
- Which cryptocurrencies have a fixed supply? Capped and uncapped coins · journal
- Does more trading make a coin less volatile? Turnover, futures and six months of prices · journal
- Pre-issued and sold: when founders sell coins they premined · journal
- Where a DEX runs, and what it actually trades · journal