What Is XRP Coin Name: Complete Crypto Guide

What Is XRP Coin Name in Crypto?

If you're just starting out in cryptocurrency, you may have wondered, "What is XRP coin name, and why is it so prominent?" In the crypto world, XRP is the official symbol and coin name for the digital currency used by the Ripple network. XRP serves as a bridge asset designed for fast, low-cost international money transfers. While many people call it Ripple, the correct coin name on trading platforms, exchanges, and wallets is XRP.

The Origins and Purpose of XRP

The XRP coin was created by Ripple Labs Inc. in 2012. Its primary goal is to make global financial transactions faster and more affordable. Unlike Bitcoin, which aims to be a decentralized currency, XRP focuses on streamlining cross-border payments for financial institutions.

XRP Coin Name Breakdown:

• Ticker/Symbol: XRP
• Official Name: XRP
• Network: RippleNet

How XRP Differs From Ripple

Many newcomers mistakenly use the terms "Ripple" and "XRP" interchangeably. Here's a simple table to clarify:

| Attribute | Ripple (Company) | XRP (Coin Name) | |--------------------|---------------------------|------------------------| | Entity Type | Fintech company | Cryptocurrency | | Purpose | Develops payment solutions| Used for transfers | | Coin Symbol | N/A | XRP | | Network | RippleNet | XRP Ledger |

Tip: Always use XRP when buying, trading, or transferring the coin on centralized exchanges like Bitget Exchange.

Key Features and Use Cases for XRP

XRP stands out for its high transaction speed and low cost. Here are the key benefits and uses:

• Fast Settlements: Transactions confirm in seconds — much faster than Bitcoin or Ethereum.
• Low Fees: Average transaction fees are a fraction of a cent.
• Interoperability: XRP acts as a bridge currency, helping banks and payment providers settle transactions between different fiat currencies instantly.
• Decentralized Ledger: The XRP Ledger is public and open-source, which means anyone can validate XRP transactions.

Popular XRP Use Cases

• Remittances: Many companies use XRP for sending money abroad quickly.
• Global Payments: Financial institutions join RippleNet and use XRP for on-demand liquidity.
• Trading: XRP is a popular trading pair on major crypto exchanges, including Bitget Exchange.
• Payments for Web3 apps: As more dApps integrate XRP, it may soon be used for new decentralized finance (DeFi) solutions.

Latest Developments and Project Updates

In recent years, XRP has seen both growth and challenges. Notably, Ripple has been involved in ongoing legal discussions with the U.S. Securities and Exchange Commission (SEC). However, recent news in 2023–2024 suggests increased clarity and stability around the coin's status in the U.S., driving renewed interest from both retail and institutional investors.

Key XRP Updates:

• According to official Ripple press releases, RippleNet now serves over 300 financial institutions worldwide.
• Data from Glassnode and Dune Analytics shows consistent growth in the number of active XRP wallets and daily transaction volume.
• In 2024, Ripple Labs announced collaborations with major banking partners in Asia and the Middle East.
• The recent Bitget Exchange report confirmed sustained trading volume for XRP, reflecting continued user trust in the coin name and network.

Unique Insights:

• Analytics by Dune detail spikes in on-chain volume whenever partnerships with global banks are announced.
• Nansen’s dashboard demonstrates a broad base of long-term XRP holders, suggesting a healthy investor mix.

Frequently Asked Questions About XRP

Why do some people call XRP 'Ripple'?

XRP is the coin name, while Ripple is the company behind it. The confusion arises because Ripple developed the XRP Ledger, but Ripple does not control the coin itself.

Where do I buy XRP, and what should I search for?

You can buy XRP on most major cryptocurrency exchanges. On Bitget Exchange, always search for "XRP" to find the correct coin name and trading pairs.

What is the official XRP name in web3 wallets?

The token is always listed as XRP. When storing XRP securely, Bitget Wallet is highly recommended for its ease of use and security.

Is XRP the same as RippleNet?

RippleNet is the payment network powered by Ripple, while XRP is the coin name used within the network — but they are not identical.

What makes XRP unique among cryptocurrencies?

Its speed, cost, and intended use for real-world banks set XRP apart. It's one of the few digital assets regularly used by traditional organizations for large-scale settlements.

Overview Table: Quick Facts About XRP Coin

| Feature | Details | |-------------------------|---------------------------| | Coin/Ticker Name | XRP | | Maximum Supply | 100,000,000,000 | | Launch Year | 2012 | | Created by | Ripple Labs Inc. | | Key Use Case | Cross-border settlements | | Average Transaction Fee | < $0.01 | | Leading Exchanges | Bitget Exchange, others |

How to Get Started with XRP

If you want to own XRP, start by creating an account on Bitget Exchange, which offers deep liquidity and strong security. Store your XRP in Bitget Wallet for easy access and reliable protection. Remember to look for "XRP" — the only correct token name — when searching for markets, learning resources, or wallet deposits.

Whether you’re researching XRP to make informed buying and trading decisions, or just starting out, knowing that XRP is the official coin name used across the blockchain and finance world is crucial. If you want a digital asset with mainstream adoption, clear utility, and a robust ecosystem, XRP stands out as one to watch. For the smoothest experience, always choose reputable tools like Bitget Exchange and Bitget Wallet when interacting with XRP or any other cryptocurrency.