How do I place a limit order on the XRP Ledger?

Open the token’s page on xrpl.to, choose the limit tab of the trade panel, set the price and amount, and sign. The order is an OfferCreate transaction and rests on the ledger’s order book until it fills or you cancel it.

How much does a limit order cost on the XRP Ledger?

About 0.000012 XRP to place and the same to cancel, with no trading fee. While it rests it holds 0.2 XRP of your balance as reserve, returned when it fills or is removed.

Does an XRP Ledger order expire on its own?

An order with an Expiration can no longer fill after that time, but it stays on the ledger, holding its reserve, until a transaction removes it: a trade that reaches it, or your own cancel.

Insights

XRPL Limit Orders Guide

A limit order names your price and waits on the XRP Ledger’s own order book until someone trades against it or you cancel it. It costs about 0.000012 XRP to place, carries no trading fee, and holds 0.2 XRP of your balance while it waits.

What an order book looks like

RLUSD/XRP order bookbid 0.7623 · ask 0.7630 XRP · spread 0.09%

RLUSD waiting to be bought (green, left) and sold (red, right) within 1% of the middle price, added up from the best price outwards; refreshed every 5 minutes, ledger 107,755,302. Resting orders only: the AMM pool trades alongside them. The vertical axis is RLUSD.

Every order on it is on the ledger for anyone to see, with the account that placed it. A buy order sits on the left; a sell order on the right; the gap between the best of each is the spread.

How an order fills

It trades at once if it can. A buy priced at or above the best sell fills straight away, at the sell orders’ prices, which can be better than yours.
What is left rests. The unfilled part joins the book at your price; later orders that reach it fill it, in whole or in part.
The pool competes. Swaps fill from the order book and the AMM pool together, whichever is cheaper, so a resting order fills only when it is the better price.

Options an order can take

Passive	Does not take an order at exactly its own price (it still takes better ones), and rests instead.
Immediate or cancel	Fills what it can at once; whatever is left is cancelled instead of resting.
Fill or kill	Fills completely at once, or not at all.
Sell	Sells all of what you offer even if that brings in more than you asked.
Expiration	A time after which the order can no longer fill.

Flags and fields of the OfferCreate transaction (xrpl.org).

What an order holds, and when it goes

0.2 XRP per resting order is set aside from your balance as reserve (reserves). Without it, a new order fails with tecINSUF_RESERVE_OFFER.
An order you can no longer pay for stays put. If your balance falls, the order cannot fill but stays on the ledger until a transaction removes it (xrpl.org).
An expired order stays too, holding its reserve, until a trade reaches it or you cancel it. Cancelling is an OfferCancel, about 0.000012 XRP.

Placing one on xrpl.to

Open a token from the token list.
In the trade panel, choose the limit tab and set your price, or how far from the market you want it.
Set the amount and sign. The order then appears among your open orders in the wallet panel, where you can cancel it.

Market swaps for a trade you want now: how swaps work. Programs that place and pull orders all day: trading bots.

Questions

How do I place a limit order on the XRP Ledger?: Open the token’s page on xrpl.to, choose the limit tab of the trade panel, set the price and amount, and sign. The order is an OfferCreate transaction and rests on the ledger’s order book until it fills or you cancel it.
How much does a limit order cost on the XRP Ledger?: About 0.000012 XRP to place and the same to cancel, with no trading fee. While it rests it holds 0.2 XRP of your balance as reserve, returned when it fills or is removed.
Does an XRP Ledger order expire on its own?: An order with an Expiration can no longer fill after that time, but it stays on the ledger, holding its reserve, until a transaction removes it: a trade that reaches it, or your own cancel.