If you own an XRP account address (paper or hardware wallet), your address starts
'r...' and doesn’t require a destination tag for deposits.
This will not change 🎉
When sending to an exchange, custodian wallet or payments platform, unlike when sending to your own XRP account address, you’ll have to enter a numeric destination tag as well. That will change 🎉
The new 𝗫-address format will replace the combination of an
address in combination with a destination tag.
By using one address that contains both the destination account
and the destination tag, users can no longer make mistakes
by making mistakes entering, or omitting the destination tag.
You can easily recognize the new address because it will always start with an upper case 𝗫. A new 𝗫-address will contain both the destination address and destination tag, and it looks like this: XV5sbjUmgPpvXv4ixFWZ5ptAYZ6PD2mgVc8JTGg27QWr8ZZ.
It will take some time for all exchanges, clients, wallets, etc. to support the new address format. You will probably see the old format with separate numeric destination tags, and the new 𝗫-addresses both being offered. in the mean time.
Source Link: https://xrpaddress.info/index.html