XRP Ledger is one of few payments-focused cryptocurrency projects. Known for its expansive DeFi presence and support for micropayments, XRP Ledger is capable of revolutionizing even the TradFi sector. But should all that innovation justify a decision to buy XRP, the blockchain’s native coin?
If you are unsure, this complete guide details everything 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 secure platform
YouHodler
Best for free BTC cloud mining
OKX
Best for mystery box offer
Coinbase
Best for beginners
Our methodology for selecting the platforms to purchase XRP
Our methodology for selecting the top platforms to purchase XRP was rigorously tested over a period of six months. Factors taken into consideration mainly revolved around the availability of the asset. However, other factors were taken into consideration, such as usability/user experience, security, liquidity, and additional features. Usability, being paramount, was held in high regards as a feature of the best platforms to buy XRP.
YouHodler: One of the first crypto platforms to offer crypto loans. It has been in the industry for a long time and has survived many crypto winters/bear markets. The platform provides an easy-going user experience. The interface is extremely simple and straightforward for both new and pro users.
• Responsive customer support
• Mobile app
• Earn interest on idle crypto
OKX: The interface is simple. Users can customize their experience in the app, due to the fact that it has both a light and dark mode. The app’s widgets are well spaced out, giving room to take in each specific feature. The navigation bar is placed in an obvious and comfortable position for the users. If fiat on-ramps and privacy are a big concern, then the exchange has many third-party options, including peer-to-peer trading.
• Proprietary blockchain for cheaper fees
• Two insurance funds
• NFT support
Coinbase: Has a reputation for providing a user-friendly graphical interface. Both the main platform and the app are instantly recognizable and well thought out. The CEX even provides learning tools, one of its most popular being its learn-to-earn feature. The platform even dedicates effort to its various types of users, having multiple interfaces to cater to different user’s skill levels.
• Earn features
• Subscription for lower fees and perks
• Learn-to-earn resources
Avatrade: Particularly useful for users that are more experienced in trading. The exchange uses an MT5 platform which allows users to access its many services on pc, web and mobile. Avatrade allows you to take advantage of must have trading features like advanced charts. The interface is not cluttered, giving much space to each individual feature of their charts.
• Crypto, forex, CFDs, and more
• MT5 platform
• Demo account
Binance: Offers a plethora of resources for both the rookie and advanced user. Users can utilize the many articles, FAQs, and learn-to-earn features that the exchange makes available, to ensure customers have a good and informed experience. Binance is known for its deep liqudiity, which provides a seamless and effortless experience for traders that need to get in and out of their positions. Lastly, the app is available for both Android and iOS users.
• Proprietary blockchain and wallet
• Derivatives trading
• Mining pool
Bithumb: A South Korean exchange that caters to predominantly Asian users. The Korean based exchange has a novel user interface that doesn’t resemble many other platforms. Bithumb allows you to use an advanced trading interface but also has a mobile application for those that need to trade on the go.
• Auto-trading
• Lending
• Bot trading
To learn more about BeInCrypto’s methodology verification, click on the link.
- Our methodology for selecting the platforms to purchase XRP
- Unpacking XRP
- Comparing XRP with other cryptocurrencies
- Diving into the XRP ecosystem
- Your first steps with XRP wallets
- XRP and regulatory challenges
- Where to buy XRP
- How to buy XRP
- XRP price prediction
- Can I buy XRP on DEXs?
- Does XRP have a future?
- Frequently asked questions
Unpacking XRP
XRP is identified as a permissionless, decentralized blockchain that relies on facilitating low-cost transactions, ultra-fast transaction finality, and enhanced scalability. 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.
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.
There are several factors that add to XRP’s popularity. These include:
- A novel consensus mechanism
- A motivated community
- 10+ years of issue-free ledger settlement
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.
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 the 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.
Your first steps with XRP wallets
Before you buy XRP, it is necessary to 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.
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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:
“An important topic has come up about protecting retail. The SEC created this mess by proclaiming it was the cop on the crypto beat when it had no legal jurisdiction Where’s that gotten us? Consumers left holding the bag in bankruptcy court while the SEC holds press conferences.”
Brad Garlinghouse, CEO at Ripple: Twitter
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.
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.
How to buy XRP
Here’s how to buy XRP on one of our top exchange choices, Coinbase.
1. Firstly, open the Coinbase app, select trade, and choose XRP.
2. Secondly, select the amount you would like to purchase.
3. Finally, press “Place Order” to complete your transaction.
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.
2. Select “Sell” and choose the amount of XRP you would like to sell.
3. Lastly, choose “Place Order” to complete your transaction.
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.
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.
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.
Frequently asked questions
Is XRP still available to buy?
Where can I buy XRP in the U.S.?
What will XRP be worth in five years?
Will XRP reach $1?
Could XRP hit $1,000?
How do I buy XRP directly?
What is the safest way to buy XRP?
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