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One of the most controversial digital currencies is XRP. Critics in the cryptocurrency and DeFi ecosystem often claim that XRP has no real utility, saying that it exists primarily as a speculative asset with limited real-world use.
In contrast, XRP maintains one of the largest and most vocal communities in the crypto world – the XRP Army. They believe that this altcoin will eventually power the global financial infrastructure.
The truth lies between these two extremes. XRP has real utility, but its use is more private and strict than many think.
XRP is more unique than any other cryptocurrency
Consider XRP as the native token of the XRP ledgerwhich was launched in 2012 with a clear goal: to enable cross-border payments quickly and efficiently.
Unlike Bitcoin, which focuses on decentralized storage of value, or Ethereum, which focuses on programmable smart contracts, XRP is primarily designed to move money between financial systems quickly and cheaply.
Transactions are settled Register XRP It takes about three to five seconds and costs a fraction of a cent, which makes XRP very effective as a bridge currency, because it allows the instant transfer between two different fiat currencies without the need for banks or payment service providers to hold large reserves in foreign accounts.
Millions hold XRP – but the biggest use comes from traders and infrastructure
Retail investors currently make up the largest group of XRP users. By early 2025, the XRP registry had approximately 6 to 7 million funded accounts, representing wallets holding XRP.
After adjusting for custodial accounts on exchanges and people holding multiple wallets, analysts estimate that around 2 to 3 million people around the world already own XRP.
Cryptocurrency exchanges also use this currency a lot. Platforms like Binance, Bitstamp, Kraken and Uphold are used XRP currency in liquidity management and transfers.
The speed and low price of XRP make it an effective tool for moving funds between exchanges and managing business liquidity.
Payment service providers are also considered a key use case in the real world. I have used companies like SBI Remit in Japan And Tranglo in Southeast Asia uses XRP through Ripple’s on-demand liquidity system to facilitate international transfers.
XRP in these cases acted as a temporary bridge asset, allowing the instant cross-border transfer of funds without the need for pre-funded foreign accounts.
Banks use Ripple’s technology, but only specific partners actually use XRP
Banks, however, show a more complex picture. Major financial institutions such as Santander, Standard Chartered, and… Bank of America Ripple Payments Infrastructure.
But most of these institutions used Ripple’s messaging and settlement software without directly depending on XRP itself. The direct use of XRP for liquidity has been limited to some payment service providers only, and not to global banks in general.
XRP, along with remittances, has played a key technical role in its own network. Each account in the XRP ledger must contain an amount of XRP, and each transaction requires on-chain fees with XRP.
XRP supported decentralized trading, token issuance and asset transfer on the ledger.
Remarkably, XRP is neither useless nor universally accepted. Its use is in dedicated roles in the financial infrastructure, especially in providing liquidity and settlement of payments.
Understanding who actually uses XRP paints a clearer picture – based on real-world function, not speculation.
