XRP is the native token of the XRP Ledger, a fast, low-cost blockchain designed primarily for cross-border payments and remittances. Despite years of legal uncertainty following the SEC's 2020 lawsuit against Ripple Labs, a 2023 court ruling found that XRP sold on public exchanges did not constitute an unregistered securities offering, clearing significant regulatory fog. XRP remains one of the top cryptocurrencies by market cap in 2026.
XRP Reserve Requirement: Every XRP Ledger wallet requires a minimum reserve of 10 XRP that cannot be withdrawn. This is a built-in anti-spam mechanism. When setting up a new XRP wallet, you must send at least 10 XRP to activate it, those coins are locked as the base reserve.
What Makes XRP Wallets Different
Unlike Bitcoin or Ethereum wallets, XRP wallets require a "destination tag" when sending to exchanges. This is a number that identifies your specific account on the exchange. Without it, your deposit may be lost. Always double-check that you include the correct destination tag when depositing XRP to any exchange.
XRP also uses a different address format than Ethereum (starts with "r" rather than "0x") and runs on its own dedicated ledger rather than a smart contract platform.
Best Hardware Wallets for XRP
Ledger Nano X
Hardware WalletLedger supports XRP natively through the Ledger Live application. The Nano X stores your XRP private keys offline on the device and requires physical confirmation for every transaction. Best option for significant XRP holdings you plan to hold long-term. Supports hundreds of other coins alongside XRP, making it practical as a single device for a multi-coin portfolio. Always buy directly from Ledger's official website, never secondhand.
Trezor Model T
Hardware WalletTrezor's Model T supports XRP through the Trezor Suite application. Open-source firmware and hardware. Physical touchscreen confirms every transaction. Strong security track record. A solid alternative to Ledger for XRP storage, particularly for users who value full open-source auditability.
Best Software Wallets for XRP
XUMM (Xaman)
Mobile WalletXUMM (rebranded as Xaman in 2023) is the most widely used XRP-native mobile wallet. Built specifically for the XRP Ledger by XRPL Labs. Supports XRP, issued tokens on the XRP Ledger, and NFTs. Transaction signing is handled on-device. The most feature-complete option for XRP Ledger users who need access to decentralized exchange features, token issuance, and escrow. Available on iOS and Android. Free to download.
Trust Wallet
Mobile WalletTrust Wallet supports XRP alongside hundreds of other coins. Simple, beginner-friendly interface. Self-custody, private keys stored on your device. Owned by Binance but operates independently with its own open-source code. Good option for users who want a multi-coin mobile wallet that includes XRP without specialised XRP Ledger features.
Exodus Wallet
Desktop + MobileExodus is a multi-currency wallet available on desktop (Windows, Mac, Linux) and mobile (iOS, Android). Supports XRP with a clean interface and built-in exchange for swapping between coins. Not open-source, which is a limitation for security-focused users, but a reliable choice for those who want a polished, easy-to-use multi-coin wallet. Private keys stored locally, not on Exodus servers.
How to Set Up an XRP Wallet: Key Steps
- Download your chosen wallet from the official source only, never from third-party app stores or unofficial links
- Create a new wallet and write down your seed phrase or secret key on paper
- Activate the wallet by sending at least 10 XRP from an exchange to your new address. This satisfies the XRP Ledger's base reserve requirement
- After activation, you can send and receive XRP freely, the 10 XRP reserve remains locked
- When sending XRP to an exchange, always include the exchange's destination tag
XRP Storage: Exchange vs Self-Custody
Exchanges like Coinbase, Kraken, and Binance all support XRP. Holding on an exchange is convenient for trading but means the exchange controls your private keys. For long-term holdings, a self-custody wallet (hardware or software) is safer. The 2022 collapses of FTX and Celsius, where users lost access to funds held on third-party platforms, demonstrated this risk clearly.