The (i) icons and dotted underlines show these definitions.
Amendment (feature vote)
A proposed rule change. It activates after 80% of validators support it for two weeks. Related guide
AMM pool
A pool holding two assets. You can trade against it directly even when no one has placed an order. Related guide
Auto-bridging
The ledger automatically routes a trade through XRP when that gives a better rate, even if the order never mentions XRP. Related guide
Circulating supply
Issued supply minus what the issuer or Ripple holds. Related guide
Conversion cost
How much less you receive on a $10,000 conversion than the ECB reference rate would give. Under 1% counts as low cost. Related guide
Credential
A certificate attached to a wallet. Only wallets holding it can enter a permissioned DEX. Related guide
Decentralized exchange (DEX)
The exchange built into the XRP Ledger. Anyone can place orders and the ledger matches them. Related guide
Destination tag
A number exchanges use to tell customers apart when they all deposit to one wallet. Related guide
Escrow
Locks XRP so nobody can move it before a set date. Related guide
Fee burn
XRP paid as fees is destroyed, so total supply slowly shrinks. Related guide
Issuer address
The wallet that created a token. Same name, different issuer means a different token. Related guide
Kimchi premium
How much higher Korean exchange prices are than the global price converted to won. Negative means Korea is cheaper. Related guide
Ledger explorer
A site that lets anyone look up the accounts and transactions in the ledger. XRPScan, Bithomp and XRPL Explorer all show the same ledger; only added information such as labels differs. Related guide
Multi-Purpose Token (MPT)
A newer token type issued with preset rules. It can be held without a trust line. Related guide
Net assets (NAV)
An ETF’s assets valued in dollars, not the number of XRP it holds. Related guide
Official address file (xrp-ledger.toml)
A file issuers publish on their own website listing their real issuing addresses. Related guide
Open interest
Futures contracts still open. Each has a buyer and a seller, so a rise does not mean more buying. Related guide
Permissioned DEX
A market where only wallets holding a credential can trade, built for regulated institutions. Related guide
Real-world assets (RWA)
Real-world assets such as treasuries, funds and commodities issued as tokens. Related guide
Recommended validator list (UNL)
The validator list most servers trust. Around 35 today, a mix of universities, exchanges and developers. Related guide
Reference rate
The European Central Bank’s once-a-day rate, used as our baseline. Gaps under 1% may just be timing. Related guide
Reserve
An account must hold 1 XRP, plus 0.2 XRP for each object such as an order or trust line. Locked, not spent. Related guide
Rich list
A ranking of wallets by XRP balance. One wallet is not one person; an exchange wallet holds many customers’ coins. Related guide
RLUSD
Ripple’s US dollar stablecoin, designed to be redeemable 1:1 for dollars. Related guide
RLUSD redemption (burn)
The issuer pays out dollars and takes RLUSD back out of circulation. Not the same as XRP fee burning. Related guide
Sequence number
A counter that rises each time an account sends a transaction. If it has not changed in a long time, the account has not sent anything. Related guide
Simulated order
A ledger feature that calculates an order’s result without submitting it. No funds move. Related guide
Slippage
How much more you lose converting $10,000 instead of $1,000. Smaller order books and pools mean more slippage. Related guide
Spot ETF
A fund that buys and holds real XRP and trades like a stock. Issuers publish holdings daily. Related guide
Transaction hash
A unique ID for each transaction. Anyone can look it up in a ledger explorer. Related guide
Trust line
A wallet setting that says it will accept a given issuer’s token. Trust line counts are not holder counts. Related guide
Validator
A server that agrees on transaction order and results to close each ledger. No mining and no reward. Related guide
x402 payments
A way for AI programs to pay for web services on the spot; on the ledger it is an ordinary payment with a tag number. Related guide
XRP Ledger
The public ledger where XRP lives. A new ledger version closes every 3–5 seconds. Related guide