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How To Buy XRP and Everything You Need To Know

11 mins
Updated by Maria Petrova
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XRP Ledger is one of few payments-focused cryptocurrency projects. Known for its expansive DeFi presence and support for micropayments, XRP Ledger can revolutionize even the TradFi sector. But should all that innovation justify buying XRP, the blockchain’s native coin? If you are unsure, this complete guide details everything you need to know about XRP, helping you decide whether the asset is worth buying in the short or long term.

Buy ripple (XRP) with few clicks on these secure platforms

YouHodler

Best for free BTC cloud mining
YouHodler
Explore YouHodler on YouHodler’s official website
Availability Europe & U.K.
Deposit fees 0
Trading fees rollover fee paid every fixed period of time
Limited time offer from $10 to $10,000 for the first deposit and trading volume

OKX

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OKX
Explore OKX on OKX’s official website
Availability WorldWide
Deposit fees 0
Trading fees 0.08% (maker) / 0.10% (taker)
Limited time offer Airdrop up to $10,000

Coinbase

Best for beginners
Coinbase
Explore Coinbase on Coinbase’s official website
Availability USA & Europe
Deposit fees 0
Trading fees 0-0.4% (maker) / 0.05-0.6% (taker)
Limited time offer Bonus $10 for US users

Methodology

How to buy XRP

For our demonstration, we will use one of our top exchange choices, Coinbase. It is one of the top exchanges in the world, known for its wide selection of products and features. You can download the mobile app on Anrdoid and iOS.

1. Firstly, open the Coinbase app, select trade, and choose XRP.

buy xrp step 1

2. Secondly, select the amount you would like to purchase.

buy xrp step 2

3. Finally, press “Place Order” to complete your transaction.

buy xrp step 3

If you want to buy XRP, the easiest way is to onboard a centralized exchange like Binance, Coinbase, or more. Note that to use a CEX, you must be KYC verified.

How to sell XRP

1. Open the Coinbase app, select trade, and choose XRP.

sell xrp step 2

2. Select “Sell” and choose the amount of XRP you would like to sell.

sell xrp step 2

3. Lastly, choose “Place Order” to complete your transaction.

sell xrp step 3

Choosing how you sell Ripple (XRP) will depend on a few factors. You might not have XRP on an exchange or want to sell XRP for USD or any other crypto. For XRP stored externally, you must deposit the asset into your preferred exchange. After that, you need to check the liquidity for specific XRP pairs and make the selling trade per your preference.

Where to buy XRP

  • YouHodler: Our early impression of the platform with XRP purchases was pretty positive. We especially liked YouHodler’s innovative crypto-backed loan feature, which appears to be an attempt to revolutionize liquidity by allowing investors to access fiat funding against their XRP holdings quickly. So far, the idea seems to be working quite well. The platform’s user experience and loan options are, from our perspective, among the best for financial flexibility.
  • Binance: In our assessment, Binance ranks among the top for buying and trading XRP due to its voluminous liquidity and advanced trading features. Its global reach and multifunctional ecosystem, supporting everything from spot trading to innovative finance services, make it a hub for diversified crypto activity. And, of course, the platform’s vast learning resources come in quite handy for both new and experienced users while navigating the volatile crypto market, or for that matter, while formulating trading strategies.
  • Coinbase: Our rigorous testing found Coinbase to be a solid choice for purchasing XRP, offering a user-friendly interface combined with the reassurance of high-end security measures. U.S. investors, in particular, will find Coinbase’s seamless purchase process and educational resources top-notch, while experienced traders benefit from the upgraded toolkit and reduced fees of Coinbase Pro.
  • Bithumb: Bithumb’s dominance in the South Korean market translates to a highly competitive platform for buying and trading XRP. Our analysts point out Bithumb’s strong liquidity and real-time transaction services as significant advantages over local, as well as global competitors. Its easy-to-navigate interface and a diverse range of additional services make it a powerful player for both local and international investors looking to buy XRP.
  • Avatrade: Although it’s not as big a name as Binance or Coinbase, AvaTrade has its own charm that earned it a spot in the high table of crypto exchanges. Or at least, that’s what appeared to us as we explored the platform’s offerings firsthand. For instance, the seamless integration of XRP and forex trading capabilities seems pretty practical and efficient. Similarly, its robust platform could serve our team’s requirements for a reliable and multifaceted trading environment. The advanced trading tools and responsive customer support are the other strong points. 
Buy XRP from CEXs: Coinmarketcap
Buy XRP from CEXs: CoinMarketCap

Unpacking XRP

XRP is identified as a permissionless, decentralized blockchain that relies on facilitating low-cost transactions, ultra-fast transaction finality, and enhanced scalability. It has one of the highest market caps in the cryptocurrency market. It does not employ crypto staking or mining, but instead uses a Federated Byzantine Agreement (FBA) mechanism.

Thanks to the green attributes, XRPL is now a carbon-neutral ecosystem. The ecosystem came into effect in 2012, led by Jed McCaleb, Arthur Britto, and David Schwartz. It was orginally called OpenCoin but rebranded to Ripple Labs during the 2013 bull market.

Did you know? Ripple, which people generally associate with XRP, is the payments network built on top of the XRP Ledger blockchain.

For the unversed, the Ripple Payments network is a part of Ripple Labs, a company currently led by Brad Garlinghouse. Ripple Labs is the firm that envisioned XRPL, which, being decentralized, now works independently. 

How does XRP work?

XRP Ledger works as a platform where developers can create solutions for problems associated with remittances, asset tokenization, and even traditional financial inefficiencies. The blockchain supports multiple programming languages and helps create business-specific solutions. With XRP Ledger, you can leverage the capabilities of a decentralized exchange (DEX), cross-channel and cross-border payments, and more.

XRP use case: XRPL
XRP use case: XRPL

There are several factors that add to XRP’s popularity. These include:

Comparing XRP with other cryptocurrencies

Ethereum and Bitcoin are the two leading cryptocurrencies. Let us see how XRP compares against them:

XRP vs. Ethereum

While XRP thrives as a cross-channel payment facilitator, the Ethereum network is meant for smart contracts and Dapps. XRP also boasts faster transactions and instant payment settlements, unlike the Ethereum network, which can get sluggish during congestion.

XRP vs. Bitcoin

The difference between XRP and BTC is a tad subtler. While Bitcoin is a P2P cash system, XRP is meant to settle payments between financial institutions as a bridge currency. Also, XRP is far more energy-efficient.

xrp
XRP consensus: XRPL

Diving into the XRP ecosystem

While XRPL happens to be the decentralized arm of the entire XRP ecosystem, there are other stakeholders and elements involved. These include:

  • Ripple or RippleNet, which is the institutional payment facilitator
  • On-demand liquidity (ODL), offering liquidity on demand
  • Validators
  • Exchanges helping with XRP trading
  • Community and XRP developers
  • On-ramp and off-ramp gateways
Buy XRP and experience the utilities: XRPL
Buy XRP and experience the utilities: XRPL

Your first steps with XRP wallets

Before you buy XRP, you must have an XRP wallet ready. If you plan to hold long-term, you can rely on a hardware XRP wallet, like a Ledger Nano X. Or, you can rely on XRP mobile and desktop wallets, including Toast, Atomic Wallet, or more.

XRP and regulatory challenges

In 2020, the SEC filed a lawsuit against Brad Garlinghouse, Chris Larsen, and Ripple Labs itself. The lawsuit focussed on reprimanding the Ripple team for offering XRP as unregistered securities. However, the Ripple vs. SEC fiasco found some closure, with the U.S. judge pushing a courtroom ruling in favor of the former on July 13, 2023. XRP surged by 75% within hours following the verdict.

Here is what Garlinghouse had to say about the SEC issue:

Brad Garlinghouse, CEO at Ripple: Twitter
Why we chose these platforms

If you’re seeking a reputable source to purchase XRP, the platforms above are all strong contenders chosen for their liquidity, collective global presence, and solid security offerings. The platform you personally choose should depend on your individual requirements and needs. For example, if you also want to explore crypto loans, YouHodler is the platform you need. Advanced traders can benefit from Coinbase Pro’s low fees an huge range of trading instruments.

XRP price prediction

If you follow our XRP ripple price prediction, the crypto is expected to go as high as $120 by mid-2025. Note that for the coin to reach that level, it must first breach past its all-time high of $3.84, which it touched on Jan. 4, 2018.

Given the cryptocurrency market’s dynamic and unpredictable nature, it’s essential to approach predictions with caution. It is important for investors and crypto enthusiasts to conduct their own varied research as opposed to relying solely on a single source for forecasts. While fundamental, technical, social sentiment analysis and other indicators can be excellent ways to consider future price potential, market forces, and the news cycle have a clear impact on the price of XRP.

While many remain optimistic about XRP’s long-term cross-border potential and real-world usage, the token’s valuation remains controversial. The SEC is still seeking hefty fines from Ripple, and the altcoin’s growth has yet to match its peers for a considerable time. For some, that’s a red flag.

“What exactly have they achieved to warrant this token’s value? Dud.”

Clem Chambers, Founder of Umbria Network: BeInCrypto interview

Can I buy XRP on DEXs?

While CEXs can let you buy XRP easily, KYC verification can be time-consuming. For stat purchases, decentralized exchanges like PancakeSwap, BiSwap, and BabySwap may be better choices. However, ensure you check the liquidity for your preferred trading pair before proceeding.

Does XRP have a future?

If you want to buy XRP, it is important to know that it isn’t just a profit-attracting crypto. And it certainly isn’t dependent on the SEC-led controversy to grow and stay in the news. With a wide range of use cases, including providing institutional liquidity, facilitating CBDCs, and offering DeFi products, XRP looks like a futuristic cryptocurrency. Then again, if you are a short-term player, XRP trading might also be an option of interest.

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Ananda Banerjee
Ananda Banerjee is a technical copy/content writer specializing in web3, crypto, Blockchain, AI, and SaaS — in a career spanning over 12 years. After completing his M.Tech in Telecommunication engineering from RCCIIT, India, Ananda was quick to pair his technical acumen with content creation in a career that saw him contributing to Towardsdatascience, Hackernoon, Dzone, Elephant Journal, Business2Community, and more. At BIC, Ananda currently contributes long-form content discussing trading,...
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