How to Buy XRP

Zac McClure
ByZac McClure, MBAReviewed byTynisa (Ty) Gaines, EAUpdated on March 21, 2024 · minute read
VerifiedExpert verified

TokenTax content follows strict guidelines for editorial accuracy and integrity. We do not accept money from third party sites, so we can give you the most unbiased and accurate information possible.

  • Purchasing XRP is straightforward. Choose a reputable exchange, create an account, deposit funds, buy XRP, and store it in a secure wallet.

  • XRP is a digital asset designed for global payments that functions as the primary cryptocurrency of the XRP Ledger. It aims to provide a fast, efficient, and scalable platform for cross-border transactions, making it attractive to financial institutions and individuals.

What is XRP?

XRP is a digital asset designed for global payments. It is the native cryptocurrency of the XRP Ledger, an open-source, decentralized blockchain technology that can settle transactions in 3-5 seconds.

XRP aims to provide a fast, efficient, and scalable platform for cross-border payments, which could make it attractive to financial institutions and individuals. In this article, we’ll answer questions such as how to purchase Ripple and where to buy XRP.

How is XRP used?

XRP is primarily used as a bridge currency in Ripple's payment network, RippleNet, to facilitate cross-border transactions between fiat currencies. This reduces the need for pre-funded accounts in destination currencies and lowers the cost and time of international money transfers.

Beyond its use in the Ripple ecosystem, XRP has also gained popularity as a tradable asset on some of the best cryptocurrency exchanges.

How to buy XRP step-by-step

Purchasing XRP is a straightforward process that can be completed in a few simple steps:

  1. Choose a Cryptocurrency Exchange: Select a reputable exchange that supports XRP trading. Some popular options include Coinbase, Kraken, and Binance.

  2. Create an Account: Sign up for an account on the chosen exchange, providing your personal information and verifying your identity as required.

  3. Deposit Funds: Add funds to your exchange account using a bank transfer, credit card, or other payment methods offered by the platform.

  4. Buy XRP: Navigate to the XRP trading page, enter the amount of XRP you want to purchase, and confirm the transaction.

  5. Store Your XRP: Transfer your XRP to a secure wallet for safekeeping. Hardware wallets are recommended for long-term storage.

Where can I buy XRP right now?

XRP is available on several of the best crypto exchanges, including:

  • Coinbase: A user-friendly platform ideal for beginners.

  • Kraken: Known for its security features and a wide range of supported cryptocurrencies.

  • Binance: Offers a vast selection of trading pairs and competitive fees.

Before choosing an exchange, consider factors like security, fees, and the availability of other cryptocurrencies you might be interested in.

Pros and cons of buying XRP


  • Fast Transactions: XRP transactions are confirmed within seconds, making it one of the fastest digital assets.

  • Low Transaction Fees: XRP fees are minimal, reducing the cost of cross-border payments.

  • Wide Adoption: XRP is widely used by financial institutions for international transfers.


  • Regulatory Uncertainty: XRP faces ongoing legal challenges that could impact its future.

  • Centralization Concerns: Some critics argue that Ripple's influence over XRP's development and supply makes it less decentralized than other cryptocurrencies.

Is XRP a good investment?

The potential of XRP as an investment depends on various factors, including regulatory developments, adoption by financial institutions, and overall market conditions.

While XRP has shown significant growth, conducting thorough research and considering the risks before investing is essential. There is always risk in crypto, and going into the market with as much information as possible is helpful.

As a general rule, the price of Bitcoin drives the cryptocurrency market, so it can be helpful to have an opinion about Bitcoin's price potential before investing in XRP, whether you’re bullish or bearish on the future of the market as a whole.

Future of XRP

The future of XRP is closely tied to the outcome of Ripple's legal battles and its ability to expand its network of partnerships.

If Ripple succeeds in these areas, XRP could play a more prominent role in global payments, potentially leading to increased demand and value for the cryptocurrency.

What is the difference between Ripple, XRP, and XRP Ledger?

Here briefly is the difference between Ripple, XRP, and XRP Ledger:

  • Ripple: A technology company that develops the RippleNet payment network and other payment solutions.

  • XRP: The native cryptocurrency of the XRP Ledger, used for liquidity and payments within RippleNet.

  • XRP Ledger: A decentralized, open-source blockchain on which XRP transactions are recorded and settled.

How to buy XRP FAQs

Here are answers to frequently asked questions about how to buy XRP, how do I purchase Ripple, and where to buy XRP.

What exchange to use for XRP if you are in the US?

Coinbase and Kraken are popular choices for most people in the US who want to buy XRP due to their user-friendly interfaces and compliance with US regulations.

Who refrains from listing XRP amid regulatory uncertainty?

Some exchanges have refrained from listing XRP due to ongoing regulatory uncertainty surrounding the asset. Before attempting to buy XRP, it is advisable to check the latest listings and exchange policies.

Always do your own research and understand the risks involved before investing in any cryptocurrency. Ask one of our crypto tax professionals for further guidance when in doubt.

To stay up to date on the latest, follow TokenTax on Twitter @tokentax.

Zac McClure
Zac McClureCo-Founder & CEO at TokenTax
Zac co-founded TokenTax after his career in international finance and accounting at JPMorgan, Imprint Capital and Bain. He has worked in more than half-dozen countries and received his MBA from the UPenn Wharton School.
Tynisa (Ty) Gaines
Reviewed byTynisa (Ty) GainesTax Expert at TokenTax
Tynisa (Ty) Gaines, EA has more than 20 years of experience as a tax professional. Ty has published numerous tax articles, two tax e-books, and an academic publication on cryptocurrency for the National Income Tax Workbook.

Get a personalized crypto tax consultation.

Complete our questionaire and we'll evaluate your situation — for free.

Let’s get started.

Check out our plans and pricing to find out which solution best meets your needs.

Review plans