XRP Ecosystem 101 Test | Free Skills Assessment

Q1. What is XRP primarily used for in the Ripple ecosystem narrative?

Select one answer � 1 pt

A bridge asset for settlement/liquidity A proof-of-work mining coin like Bitcoin A privacy coin focused on anonymity A stablecoin pegged to USD

Q2. Which statement best describes XRP’s intended role in many payment narratives?

Select one answer � 1 pt

A USD-pegged stablecoin A privacy coin focused on anonymity A proof-of-work mined coin like Bitcoin A bridge asset for liquidity/settlement

Q3. Is XRP “mined” in the same way Bitcoin is mined?

Select one answer � 1 pt

Yes — it uses GPU mining Only during network congestion Yes — it uses ASIC mining No — XRP is not mined like Bitcoin

Q4. What is the XRP Ledger (XRPL)?

Select one answer � 1 pt

A mining pool for XRP A centralized database controlled by one company A smart-contract platform that requires gas in ETH A decentralized ledger network that processes XRP transactions

Q5. Roughly how long is XRPL settlement time under normal conditions?

Select one answer � 1 pt

About 10–30 minutes A few seconds (often ~3–5 seconds) About 1 hour About 24 hours

Q6. What is a “validator” on the XRPL?

Select one answer � 1 pt

A miner that produces blocks for a block reward A centralized server that approves all transactions A wallet that stores private keys for the network A node that participates in consensus on ledger updates

Q7. What is the primary purpose of XRPL transaction fees?

Select one answer � 1 pt

Paying interest to token holders Paying miners a block reward Spam prevention and network abuse resistance Funding a marketing treasury automatically

Q8. What happens to the base transaction fee paid in XRP on the XRPL?

Select one answer � 1 pt

It is refunded after confirmation It is paid to Ripple as revenue It is burned (destroyed) It is paid out to validators

Q9. What is the commonly cited maximum supply of XRP?

Select one answer � 1 pt

100 billion 1 trillion 21 million Unlimited

Q10. Which statement best captures the relationship between Ripple and XRP?

Select one answer � 1 pt

Ripple and XRP are the same legal entity Ripple is a company; XRP is a digital asset on the XRPL XRP is a stock share of Ripple Ripple is a wallet app for XRP only

Q11. Can Ripple’s enterprise payment products be used without using XRP?

Select one answer � 1 pt

Only if you are outside the U.S. Only if you mine XRP first No — every Ripple payment requires XRP always Yes — depending on the product/use case, XRP may be optional

Q12. Why do people emphasize the distinction between “XRP” and “Ripple”?

Select one answer � 1 pt

Because XRP only works inside Ripple offices Because Ripple is the name of a hardware wallet Because XRP is a stablecoin and Ripple is an exchange They are different things: a company vs an asset/network

Q13. Who controls the XRP Ledger?

Select one answer � 1 pt

No single entity; it is decentralized Only Ripple controls it Only exchanges control it Only miners control it

Q14. What is the XRPL consensus approach most associated with?

Select one answer � 1 pt

Proof-of-work mining Purely centralized approval by a bank Validator-based consensus (not proof-of-work mining) Proof-of-stake slashing with staking rewards

Q15. What does it mean that XRPL transactions are “final” after validation?

Select one answer � 1 pt

Reversal depends on how much XRP you hold Only Ripple can reverse transactions Once validated, it’s settled and not reversible like a card chargeback You can reverse any transaction within 24 hours

Q16. What is the main reason a base reserve exists for an XRPL account?

Select one answer � 1 pt

To generate staking rewards automatically To pay monthly subscription fees To unlock mining hardware Spam resistance: requiring a small reserve to create/maintain accounts

Q17. What is one commonly cited advantage of XRPL for payments compared to proof-of-work chains?

Select one answer � 1 pt

Requires mining to confirm every payment Fast settlement and low fees for transfers Unlimited free transactions with no fees Guaranteed anonymity by default

Q18. Which type of institutions are most associated with exploring XRP/Ripple-style payment solutions?

Select one answer � 1 pt

Only social media influencers Only mining pool operators Banks, payment providers, and remittance companies Only video game studios

Q19. Why does regulatory clarity matter for an asset used in payment/settlement contexts?

Select one answer � 1 pt

It only affects meme coins, not payments Institutions need compliance certainty to reduce legal/operational risk It makes transactions faster automatically It removes the need for KYC/AML

Q20. Which statement is most accurate about creating new XRP?

Select one answer � 1 pt

New XRP is not minted as block rewards; supply is fixed Anyone can create new XRP by running a node Validators mint new XRP every ledger close Miners mint new XRP every 10 minutes

Q21. Which feature is commonly associated with XRPL beyond simple payments?

Select one answer � 1 pt

Mandatory privacy mixers Proof-of-work block rewards Issued tokens (IOUs) and built-in exchange functionality concepts Physical cash printing

Q22. In general terms, what is “liquidity” in the context of cross-border payments?

Select one answer � 1 pt

Ability to source needed funds quickly for settlement A type of mining algorithm The interest rate paid to holders A hardware requirement for wallets

Q23. What is a reasonable criticism/concern sometimes raised about XRP?

Select one answer � 1 pt

It requires proof-of-work mining to function Concerns about centralization/large-holder influence and ecosystem reliance It is only usable on Sundays It can only be used offline

Q24. Which best describes the purpose of an on-ledger transaction fee on many networks (including XRPL)?

Select one answer � 1 pt

To discourage spam and protect network resources To automatically increase price To guarantee profits to all holders To replace KYC/AML requirements

Q25. Which statement is most accurate about “XRP = Ripple stock”?

Select one answer � 1 pt

True — 1 XRP equals 1 share of Ripple True — XRP is a dividend token False — XRP is not Ripple equity and grants no shareholder rights Only true if held on an exchange