XRPL
Crypto ProtocolXRPL (XRP Ledger) is the open-source ledger that XRP runs on, which xrpl.org says settles transactions in about 3-5 seconds for fractions of a cent.
The XRPL is an open-source ledger that first launched in June 2012. It is maintained by validators using the XRP Ledger Consensus Protocol rather than mining or staking. Each server works from a Unique Node List of trusted validators, and the documentation describes a supermajority of at least 80% of those validators as the threshold for validating a set of transactions. xrpl.org says transactions settle in about 3 to 5 seconds, and a validated ledger version is treated as final.
Key characteristics: the figure most often repeated is 1,500 transactions per second, which comes from a 2017 load test and is a benchmark, not a measured rate for today's live network; a minimum transaction cost of 10 drops (0.00001 XRP) that is destroyed (burned) rather than paid to validators and can rise when the network is busy; and a native decentralized exchange built into the protocol.
ISO 20022 is a messaging standard. The XRP profile on this site could not verify how RippleNet flows map onto individual ISO 20022 message types, and any ISO 20022 claim applies to Ripple's payment network and its messaging, not to the XRP token or the ledger.
Crypto Relevance
The 3 to 5 second settlement time is xrpl.org's own figure, and cross-border payments are the use case the ledger was designed for.
Related Terms
ODL
ODL (On-Demand Liquidity) is Ripple's cross-border payment product that uses XRP as a real-time bridge currency to eliminate pre-funded nostro accounts.
RippleNet
RippleNet — rebranded "Ripple Payments" in late 2023 — is Ripple's global network of financial institutions that settle cross-border payments using Ripple's technology, with XRP as an optional bridge asset.
XRP Payments Module
XRP's designated role in ISO 20022 coin lists is as a bridge asset for cross-border payments, via Ripple's On-Demand Liquidity, with the ISO 20022 tie sitting at RippleNet rather than the token.
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Last updated: 2026-09-29