RippleNet vs XRP: Do Ripple's Customers Actually Use XRP?
Many Ripple customers never touch XRP. How RippleNet, Ripple Payments and On-Demand Liquidity differ, and how to tell if a Ripple deal involves XRP at all.
Video coming soon.
Key takeaways
- RippleNet is Ripple's network of banks and payment firms. Joining it does not mean using XRP.
- On-Demand Liquidity (ODL), formerly xRapid, is the Ripple service that uses XRP as a bridge currency.
- In November 2019, Ripple said it had passed 300 customers, and that two dozen had signed on to use On-Demand Liquidity.
- As of October 2026, Ripple says its payments settle in XRP, RLUSD, other stablecoins or fiat. A Ripple customer is not automatically an XRP user.
- To tell whether a deal involves XRP, open the release and search it for the word XRP.
RippleNet and On-Demand Liquidity are not the same thing, and many of Ripple’s customers do not use XRP. RippleNet, now marketed as Ripple Payments, is Ripple’s network and software for moving money. Only one part of it, On-Demand Liquidity (ODL), uses XRP as a bridge currency between two local currencies.
That split explains why “Ripple signs a new bank” and “a bank now uses XRP” are not the same headline. This guide sets out what each Ripple product does and how to check which one a deal involves.
RippleNet vs On-Demand Liquidity at a glance
| RippleNet / Ripple Payments | On-Demand Liquidity (ODL) | |
|---|---|---|
| What it is | Ripple’s network of financial institutions and its payments platform | A Ripple service inside that network |
| Uses XRP? | Not necessarily | Yes, as a bridge currency |
| Pre-funding | Traditionally relies on money held in advance in each country | Designed to remove the need for pre-funded accounts |
| Older names | xCurrent and xVia | xRapid |
| What settles today | XRP, RLUSD, other stablecoins or fiat (Ripple, as of October 2026) | XRP |
What is RippleNet?
RippleNet is Ripple’s network of banks and payment firms and the software that links them. In plain terms, it helps institutions send payment messages and keep track of money owed between them.
Ripple folded its older products, xCurrent and xVia, into the RippleNet name. As of October 2026, Ripple markets its cross-border service as Ripple Payments. It works through the accounts banks hold with each other in different currencies, known as nostro and vostro accounts.
As of October 2026, Ripple’s cross-border payments page says its network has processed over $100 billion in payments volume and offers payouts across more than 60 markets. Those figures cover the whole service, not XRP alone.
What is On-Demand Liquidity, and how does it use XRP?
On-Demand Liquidity is the Ripple service that uses XRP to move money across borders. Ripple’s 2019 announcement described ODL as a service that “leverages the digital asset XRP as a bridge currency to eliminate the need for pre-funding in cross border payments.”
The problem it solves is pre-funding. A payment firm normally keeps money sitting in an account in each country it pays into. With ODL, the firm converts local currency into XRP, sends the XRP in seconds and converts it into the destination currency at the other end. Ripple announced the service at its 2018 Swell conference. It grew out of an earlier product called xRapid.
How many Ripple customers use XRP?
A minority of Ripple’s customers have used XRP, based on Ripple’s own figures. On November 7, 2019, Ripple announced it had “surpassed 300 customers.” In the same release, Ripple said it had “more than two dozen customers signed on to use” On-Demand Liquidity in less than a year after it was commercialized.
That is why “300 banks use XRP” is a misreading. Do 300 banks use XRP? traces how the RippleNet figure turned into an XRP claim. Ripple has not published a current count of XRP-using customers that Bullrunners could find.
Does Ripple Payments still rely on XRP?
Ripple Payments now uses XRP as one option among several. As of October 2026, Ripple’s cross-border payments page says customers can pay in, pay out and settle in RLUSD, other stablecoins or fiat. It describes converting fiat into “a digital asset such as XRP” that settles on the XRP Ledger in seconds.
Stablecoins are a growing part of the service. On April 2, 2025, Ripple said it had enabled its RLUSD stablecoin for cross-border payments with select customers. That announcement does not mention XRP. RLUSD vs XRP explains how the two assets differ.
Why don’t Ripple’s announcements say more about XRP use?
Ripple’s announcements often leave out which product a customer uses, and many partners keep details private. The fuller numbers tend to come from the partner’s side. MoneyGram, a listed company, reported Ripple market development fees in its SEC filings and later disclosed that it had suspended trading on Ripple’s platform in February 2021.
Where Ripple’s partnership details get published explains how to follow those filings and regulator approvals yourself.
Checklist for reading a Ripple partnership headline
- Find the original release from Ripple or the partner, not a repost.
- Search the page for “XRP”. “XRP Ledger” or “Ripple Payments” alone does not mean the coin is used.
- Look for On-Demand Liquidity or a bridge currency. That is the product that uses XRP.
- Check for a stablecoin. A deal built on RLUSD settles in dollars, not XRP.
- Check the partner’s filings if it is a listed or regulated company.
What to watch next
Watch for Ripple announcements that name XRP and On-Demand Liquidity, rather than only Ripple Payments or RLUSD. Watch partners’ quarterly results and regulator approvals, which often carry the specific detail Ripple’s releases leave out. None of this predicts a price. It tells you whether a given deal involves XRP at all.
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Frequently asked questions
Do Ripple's customers use XRP?
Some do and many don't. Ripple said in November 2019 that it had more than 300 customers, of which two dozen had signed on to On-Demand Liquidity, the service that uses XRP. Other customers moved ordinary money or, more recently, stablecoins.
What is the difference between RippleNet and XRP?
RippleNet is Ripple's network of financial institutions and the software that connects them. XRP is a digital asset on the XRP Ledger. Using RippleNet does not require using XRP.
What is On-Demand Liquidity?
On-Demand Liquidity (ODL) is a Ripple service that uses XRP as a bridge currency so a payment firm doesn't need money pre-funded in the destination country. It was first released in 2018 as xRapid.
Is RippleNet now called Ripple Payments?
As of October 2026, Ripple markets its cross-border service as Ripple Payments. Older names like xCurrent and xRapid were folded into RippleNet and On-Demand Liquidity.
How do I know if a Ripple partnership uses XRP?
Open the original announcement and search it for 'XRP'. A release that only mentions RippleNet, Ripple Payments, RLUSD or the XRP Ledger does not say the coin itself is being used.
Education and commentary only, not financial advice. Crypto is volatile and you can lose money. Do your own research and speak to a qualified advisor before making investment decisions. Figures are as of November 4, 2026 and may have changed since.
