The FeeSettings ledger entry is a special singleton object stored in every XRP Ledger — there is exactly one per ledger version. It contains the authoritative, network-wide values for the base transaction cost and the reserve requirements, as determined by the fee voting process.

Since the XRPFees amendment was enabled, the FeeSettings entry uses a modernised format with three key fields: BaseFeeDrops (currently "10"), ReserveBaseDrops (currently "1000000" = 1 XRP), and ReserveIncrementDrops (currently "200000" = 0.2 XRP). All values are stored as drops (millionths of one XRP).

The FeeSettings entry is identified by a fixed ledger entry ID derived from the FeeSettings space key (0x0065). It is modified only when a SetFee pseudo-transaction achieves consensus during a flag ledger cycle. Developers reading this entry directly must handle both the legacy format (used before the XRPFees amendment) and the new format.

A practical example of the FeeSettings entry after the December 2024 reduction:

{"BaseFeeDrops": "10",
 "Flags": 0,
 "LedgerEntryType": "FeeSettings",
 "ReserveBaseDrops": "1000000",
 "ReserveIncrementDrops": "200000",
 "index": "4BC50C9B0D8515D3EAAE..."}

If your application reads the FeeSettings entry directly rather than using the high-level fee, server_info, or server_state API methods, make sure it can handle both formats to avoid errors after future amendments.