XRP
XRP#5XRP is the native coin of the XRP Ledger, a blockchain built for fast, low-cost payments and currency exchange.
- Market cap
- $94.31B
- Volume 24h
- $2.84B
- All-time high
- $3.65
- −58.91% from ATH
- Circulating supply
- 62.88B of 100B
XRP does not clearly pass Liberandum's screening, but it does not fail either. The coin itself is clean on interest: holding XRP pays nothing, there is no staking, validators are unpaid, fees are destroyed, and the ledger's native lending feature is not switched on. The doubts come from elsewhere. Ripple Labs, a private company, still controls roughly two-fifths of all XRP through escrow and wallets, decides how much to sell each month and stopped publishing its quarterly sales reports in 2025; its own revenue now includes prime brokerage financing, derivatives and a stablecoin that earns interest on reserves, and the mix is not disclosed. Trading in XRP is dominated by futures, and official religious bodies disagree on whether cryptocurrency is property (mal): four of seven tier-1 positions reviewed prohibit it. Screeners that name XRP (Sharlife, ShariaQuant, CryptoUmmah) rate it permissible, one with purification. For those who follow the permissive view, fully paid spot ownership, held in one's own wallet or in a fund that does not lend its XRP, is the closest to acceptable; margin, futures and XRP lending are not. This is Shariah analysis, not a fatwa.
- 4 pass
- 4 caution
- 0 fail
Verdict history
- DoubtfulCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold XRP?8 Shariah criteria
4 pass · 4 caution · 0 failHolding XRP pays nothing: there is no staking or mining reward, validators are unpaid, and fees are destroyed.
Riba means interest or any guaranteed increase on a loan. XRP has no built-in return of any kind. All 100 billion XRP were created at launch, validators on the XRP Ledger are not paid for their work, and every transaction fee is destroyed rather than paid to anyone, so there is no reward stream that could resemble interest. The ledger's native lending protocol, which would let accounts lend and borrow on-chain, was not enabled on mainnet on 27 September 2026 (on XRPScan it was well short of the 80% validator supermajority needed).
The ledger's automated market maker pays liquidity providers a share of trading fees, which is variable, carries price risk and is not a loan return. Interest can still appear around XRP, through exchange earn products or lending XRP to others, but those are separate choices assessed under trading mechanisms, not a feature of holding the coin.
The XRP Ledger has run since 2012 and XRP has real uses, but official religious bodies disagree on whether cryptocurrency is property (mal).
Mal is property that Islamic law recognises as having value and that can be owned and traded. The XRP Ledger clearly works: it has produced ledgers continuously since at least 1 January 2013, settles payments in seconds and carries about $1.2 billion of stablecoins. XRP is needed for every account's reserve and every transaction fee, and it can bridge two currencies in a payment. Malaysia's Securities Commission Shariah Advisory Council (2020), for assets under its supervision, treats digital currency without an underlying asset as goods ('urudh) that may be traded on registered exchanges.
Other tier-1 bodies disagree: Egypt's Dar al-Ifta (2017), the UAE General Authority of Islamic Affairs (2018), Turkey's Diyanet (2017) and Indonesia's MUI (2021) prohibit dealing in cryptocurrencies, and the OIC Fiqh Academy (2019) deferred a ruling. None of them names XRP. Because authoritative bodies disagree, this criterion cannot be 'pass'.
- Resolutions of the Shariah Advisory Council of the SC - Securities Commission Malaysia
- Ruling on trading and dealing in Bitcoin - Dar al-Ifta al-Misriyyah
- Kripto paraların kullanımının dini hükmü nedir? - Din İşleri Yüksek Kurulu (Diyanet)
- Keputusan Ijtima' Ulama Komisi Fatwa se-Indonesia VII tentang Hukum Cryptocurrency - Majelis Ulama Indonesia
XRP is not a gambling token, but its trading is dominated by futures.
Maysir is gambling: winning or losing by chance rather than through productive exchange. Ordinary price swings are not maysir, and XRP has no chance-based payout of its own. The market around it is heavily speculative, though: on 27 September 2026 Binance's XRP/USDT perpetual futures traded about $894 million in 24 hours against about $180 million on the spot market, so futures were about 83% of that pair's volume (a single-day, single-exchange snapshot). On the XRP Ledger itself speculative activity is small, with about $46 million locked in its applications.
A real function exists alongside the speculation, in payments, the account reserve and fees, so the asset is not built for gambling.
The protocol earns nothing, but Ripple Labs, which holds about two-fifths of XRP, sells it and runs interest-based and derivatives businesses whose share of revenue is not disclosed.
This criterion asks how the issuer or protocol earns, and whether any of that income is impermissible. At protocol level there is no revenue: fees are destroyed and validators are unpaid. But XRP has a dominant company behind it. Ripple Labs received about 80 billion XRP at launch, still held about 41.7 billion (escrow plus wallets) in March 2025, and funds itself partly by selling XRP released from escrow.
Its other business lines include Ripple Prime, a prime broker acquired in October 2025 that provides financing and trades derivatives and swaps (with XRP-collateralised lending), and the RLUSD stablecoin, whose reserves are held in US Treasuries and cash equivalents that earn interest for the issuer. Interest and derivatives are impermissible, but Ripple does not publish its revenue mix, so the 5% threshold cannot be checked. XRP holders have no claim on Ripple's income, which is why this is caution rather than fail.
Supply is fixed and the escrow is public on-ledger, but Ripple's large holdings and undisclosed sales, and its role in the default validator list, leave real uncertainty.
Gharar is excessive uncertainty or hidden information in a deal. Much of XRP is transparent: the 100 billion supply is fixed with no way to mint more, the escrow contracts are visible on the ledger and cap Ripple's monthly release at 1 billion XRP, and the server software is open source. The uncertainty lies with Ripple Labs. It held about 42% of supply at its last report (March 2025), then stopped publishing its quarterly XRP Markets Report, so how much it sells, to whom and when is no longer disclosed; about 31 billion XRP was still in escrow in September 2026.
Ripple is also one of the two default publishers of the recommended validator list, alongside the XRP Ledger Foundation, and their lists are very similar, so the choice of trusted validators is fairly concentrated even though every server can choose its own. These are disclosed risks rather than an ability to create tokens at will, so the status is caution, not fail.
XRP and its ledger are used mainly for payments, currency exchange and stablecoin settlement; native lending is not live.
This criterion looks at what the network is actually used for. The XRP Ledger was built for payments and exchange: XRP pays fees and reserves and can bridge currencies, the ledger has a built-in exchange and automated market maker pools, and about $1.2 billion of stablecoins, including Ripple's RLUSD, circulate on it. Ripple reports more than $95 billion of total payments volume through its network, though it does not say how much used XRP.
The ledger's native lending protocol was not enabled on 27 September 2026, and decentralised applications hold only about $46 million, so interest-based lending is not a notable share of on-ledger activity. Tokenised assets issued on the ledger were not broken down, and some may be interest-bearing, which is recorded as a data gap.
Fully paid spot XRP is widely available and can be held in one's own wallet.
This criterion asks whether the asset can be owned in a permissible way. XRP trades spot, with full payment and delivery, on major exchanges such as Binance, and can be withdrawn to a self-custody wallet on the XRP Ledger where the owner controls it directly (keeping the 1 XRP account reserve). It is also held by regulated funds: the Canary XRP ETF began operating on 12 November 2025 and the Bitwise XRP ETF listed on 20 November 2025, holding XRP itself.
Ownership therefore does not depend on derivatives or leveraged wrappers; how specific funds are structured is assessed separately under trading mechanisms.
XRP gives a fast, cheap payment rail; the main harm on record is Ripple's unregistered institutional sales, settled in court, not fraud against holders.
Maslahah weighs public benefit against harm. The benefit is real: the XRP Ledger settles payments and currency exchange in seconds for a tiny fee, and it is used for stablecoin settlement and cross-border payment services. The main harm on record is legal rather than exploitative: a US court found that Ripple's direct XRP sales to institutional investors were unregistered securities offerings, fined it $125 million and barred further such sales, a judgment that became final when both sides dropped their appeals in August 2025. The court did not find fraud against XRP buyers.
The concentration of XRP with Ripple is weighed under gharar and business model, and speculative trading under maysir, not again here.
How you can use it
Tap a card for the ruling and sourcesBuying XRP with full payment and immediate delivery is widely available on major exchanges, and coins can be moved to a self-custody wallet on the XRP Ledger. Spot is acceptable for a DOUBTFUL asset for those who follow the permissive view.
US spot XRP funds hold XRP itself. The Bitwise XRP ETF's annual report says it holds XRP with Coinbase Custody, takes part in no staking programme and does not lend or pledge its XRP (apart from a possible lien securing trade credits under its Agent Execution Model), for a 0.34% yearly fee, which is close to spot. The Canary XRP ETF's annual report refers to a staking programme with its custodians although XRP has no native staking, and the terms of other issuers' funds were not verified, so funds need checking one by one.
Tier-1 bodies such as Indonesia's MUI rule that using cryptocurrency as currency is not permissible, and paying with crypto is banned by law in Indonesia and Turkey. Payment use is XRP's main purpose, so this applies directly where such rulings are followed.
Not available natively: the XRP Ledger has no staking and its validators are unpaid. Products marketed as XRP staking are third-party arrangements, usually lending or wrapping XRP on other networks, whose source of return is unclear or interest-based.
Margin trading in XRP is widely offered but is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
XRP futures and perpetual contracts are the largest part of its trading volume (about 83% of Binance XRP/USDT volume on 27 September 2026), but futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
Lending XRP through exchange earn programmes, centralised lenders or lending markets on other networks pays interest from borrowers, which is riba. The XRP Ledger's own lending protocol was not enabled on mainnet on 27 September 2026; if it is activated, lending through it would be assessed the same way.
XRP pays holders nothing, so XRP yield products get their return from lending or leverage and fail. Providing liquidity to the XRP Ledger's automated market maker is different: it earns a variable share of trading fees with price risk, and screeners disagree on it (ShariaQuant marks it doubtful).
Scholars quotes
Penggunaan cryptocurrency sebagai mata uang hukumnya haram, karena mengandung gharar (ketidakjelasan), dharar (bahaya) dan bertentangan dengan Undang-Undang nomor 7 tahun 2011 tentang Mata Uang dan Peraturan Bank Indonesia nomor 17 tahun 2015 tentang Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan Republik Indonesia.Sebagaimana mata wang yang lain, mata wang digital hendaklah tidak digunakan sebagai bayaran kepada barangan, perkhidmatan dan aktiviti tidak patuh Syariah seperti pembelian dadah, pelacuran, perjudian dan pendanaan aktiviti keganasan serta penggubahan wang haram.The SAC has also resolved that investment and trading of Digital Assets that fulfil the above requirements and which are traded on Digital Asset Exchange (DAX) registered with SC are permissible.Third: In light of the above and given the significant risks associated with this type of currencies and the instability of their transactions, the Council of the Academy recommends pursuing research and studies on issues affecting its ruling.Bitcoin is a digital currency that does not meet the legal and Sharia criteria that make it a currency subject to the rulings of dealing with official legal currencies recognized internationally.بناءً على ذلك: فلا يجوز شرعًا تداول عملة "البتكوين" والتعامل من خلالها بالبيعِ والشراءِ والإجارةِ وغيرها، بل يُمنع من الاشتراكِ فيها؛ لعدمِ اعتبارِها كوسيطٍ مقبولٍ للتبادلِ من الجهاتِ المخُتصَّةِ، ولِمَا تشتمل عليه من الضررِ الناشئ عن الغررِ والجهالةِ والغشِّ في مَصْرِفها ومِعْيارها وقِيمتها، فضلًا عما تؤدي إليه ممارستُها من مخاطرَ عاليةٍ على الأفراد والدول.Based on this three-layer screen, simply buying and holding XRP is Halal.According to research and opinion of experts so far, cryptocurrency is not considered ‘ maal ’ (wealth) in Sharia.Muhammadiyah memandang transaksi dan investasi kripto pada dasarnya mubah (boleh) tetapi dengan syarat tertentu.The opinion on this is the same as doing the same with any halal assets such as shares – 1) is permissible, 2) is more debatable and there are differing opinions on short-term trading.Our current position is 'tawaquf'; we can't say it is halal or haram, but we say it is better not to engage in itAs of now, the projects provided by Ripple appear to be in accordance with Shariah principles.However we cannot issue a blanket ruling on crypto currencies as the actual ruling will be based on a number of factors including the underlying trading activities, nature of the token/crypto, use cases, etc.As I mentioned at the beginning of this article it is not necessary to substantiate the permissibility of something as long as there are no prohibited factors involved in it or surrounding it.AI-assisted analysis checked against sources. Not a fatwa or investment advice.
Where it trades
No exchanges from our coverage trade XRP yet
Similar halal assets
Halal verdict, same category
