How to Buy Ripple | Buy XRP in 4 Steps (May 2024)

Ripple (XRP) is a cryptocurrency with a history of outsized returns for investors, but it should be stated that they do have a tumultuous relationship with the SEC.

Please view our detailed Investing in Ripple guide to learn more about this digital asset.

We feature the 7 best exchanges to buy Ripple (XRP) with a credit card, debit card, or Bitcoin (BTC).

How to Buy Ripple (XRP) in 4 Steps

The whole process can take as little as 10 minutes, and all you'll need is a smartphone or computer, photo identification, and a means of payment.

1. Compare Crypto Exchanges – We list the top cryptocurrency exchanges that offer the ability to buy Ripple (XRP) cryptocurrency.
2. Create an account – Verify your email address and identity.
3. Make a deposit – Debit Card, Credit Card, Wire Transfer, or Bitcoin.
4. Buy Ripple – Use your funds to Buy XRP.

1. Uphold

A top exchange in the United States & UK, Uphold is an experienced and extremely innovative trading platform that should be able to meet your needs for trading across a number of cryptocurrencies, including Ripple (XRP). Beyond the ease of use and innovative features within the trading platform, what stands out about Uphold is the credibility it has gained in the industry.

Uphold offers both a desktop and mobile app trading experience that is extremely intuitive. The trading view is completely customizable with the assets that you trade the most and is very easy to navigate while providing a modern feel on both desktop and mobile. It is a very popular and suitable choice, particularly for new traders.

Besides being visibly appealing, the Uphold trading platform allows you to place your trades with great ease. Just a couple of clicks, and you can make trades directly from your deposit method without even having to wait for funds to clear to your account. This one-step ordering is another innovation from a company that prides itself on the usability of its platform. Uphold also provides the ability to execute limit orders.

Germany & Netherlands residents are prohibited.

Read our Uphold Review or visit Uphold.

Uphold Disclaimer: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong..

2. Kraken

Founded in 2011, Kraken is one of the most trusted names in the cryptocurrency industry, with over 9,000,000 users and over $207 billion in quarterly trading volume.

From humble beginnings, Kraken now offers over 200 digital assets, including Ripple (XRP). For more sophisticated investors, Kraken also offers futures and margin trading.

Kraken has continued to evolve its platform, and its commitment to the industry by being one of the first exchanges to offer buying opportunities on new tokens.

Kraken offers trading access to over 190 countries, including Australia, Canada, Europe, and is our most recommended exchange for USA residents. (Excluding New York & Washington state)

Read our Kraken Review or visit Kraken.

3. KuCoin

KuCoin is a well-known name in the industry, and one of the most competitive when it comes to fees and trading costs. The exchange has grown exponentially from its early days of offering only crypto to crypto trading.  It now offers a varied range of services, including a P2P exchange capability, and purchasing with credit or debit cards.

KuCoin currently offers Ripple (XRP) cryptocurrency trading as well as over 300 other popular tokens.  It is often the first to offer buying opportunities for new tokens.

USA residents are prohibited.

Read our KuCoin Review or visit KuCoin.

4. Binance

Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing Ripple (XRP) here are both lower fees than competing exchanges and increased liquidity, enabling you to buy and sell quickly to take advantage of market-moving news.

This exchange is best for investors residing in Australia, Singapore & internationally. Canadian, UK & USA residents are prohibited.

Read our Binance Review or visit Binance.

Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

5. Paybis

Paybis is designed for simplicity and is an extremely trustworthy starting point for buying Ripple (XRP) and other cryptocurrencies.  This exchange has been operating since 2014 and has assisted numerous traders in beginning their crypto trading journey, offering the convenience of purchasing with just a credit or debit card.  Unlike other exchanges where you buy tokens from other users, with Paybis, you purchase directly from the exchange, making the process much simpler and smoother.

Paybis is a truly global company offering services to residents from 180+ countries, including Canada, Europe, UK, & USA.

The fees you will encounter here are good value and competitive with others in the sector, depending on the payment method you use.

FinCEN Department of the Treasury, United States of America Money Service Business Registration: 31000224635628.

Read our Paybis Review or visit Paybis.

6. HTX

Established in 2013, HTX has since become one of the world’s largest digital asset exchanges, with an accumulated trading volume of US $1 trillion. Having once accounted for half of the world’s digital asset transactions, HTX now serves more than 5 million users in over 130 countries around the globe. It should be noted that HTX currently does not accept USA or Canadian residents.

HTX is one of the top exchanges that currently offer Ripple (XRP) trading opportunities.

Read our HTX Review or visit HTX.

7. WazirX

Launched in 2018, WazirX is India’s biggest cryptocurrency exchange with over 6,o00,000 users, and is expanding rapidly. It is one of the most reputable exchanges to currently offer Ripple (XRP) trading opportunities and currently accepts clients from all over the world. This exchange is part of the Binance Group, which ensures a high standard of quality.

USA residents are prohibited.

Read our WazirX review or visit WazirX

What is Ripple?

XRP is a popular, open-source, cryptocurrency, which boasts attributes such as fast settlement times and a fixed supply.

XRP is most commonly associated with Ripple Labs, as this U.S. based company controls a majority of the 100 billion XRP tokens in existence.

Due to the percentage of XRP held by Ripple Labs, a complex relationship has evolved, over time.  This has resulted in much confusion when differentiating between XRP and Ripple Labs.

What does it do?

XRP is typically viewed as a ‘bridging currency’.  This means it can be used as an intermediary, facilitating the exchange of currencies.  It is also able to make fast and cheap international payments a reality.

How does Ripple work?

Underpinning XRP is not one of the commonly used POW or POS protocols.  Rather, XRP utilizes a consensus system, comprised of anyone that desires to run an XRP node.  Despite Ripple Labs controlling the majority supply of XRP, the ability for anyone to set up a node gives credence to the argument that the cryptocurrency is, indeed, decentralized.

Nodes on the network are responsible for verifying the validity and time-based order of transactions taking place.  Agreement between nodes on this data occurs in under 5 seconds.

Projected Developments?

Due to regulatory concerns over the status of XRP, as a security, the projected growth of the cryptocurrency is difficult to pin down.  While there will, no doubt, continue to be development of services utilizing XRP, growth be kept in check while its status remains in limbo.

If deemed a security, the road ahead will be tough for XRP.  If cleared of this designation and the adoption of the cryptocurrency is seen among world banks, XRP looks to have a bright future.

Un-phased by the uncertainty of classification, Ripple has indicated and shown a propensity for continued development of their platform, and product adoption.

Underlying Ideology?

To date, it appears as though the ideologies that drive Ripple Labs are not to overthrow traditional banking systems, but to help them evolve.

To help them evolve, Ripple Labs has been working hand-in-hand with banks, for years now, essentially counting on the transition of banks, rather than the complete replacement of our current system.

Acceptance and Controversies?

Ripple has done well to achieve modest adoption of XRP, in recent years.  Various banks and forward-thinking companies have run programs trialing the usage of this cryptocurrency.

Alongside this acceptance, there are two main controversies that have continued to plague XRP over the years.

1. Manipulation – While this has not been proven to be the case, there are many who believe Ripple Labs manipulates the supply of XRP available to the public, in an effort to suit their own needs.
2. Clientele – Many proponents in the world of cryptocurrencies are in it to build a world not reliant upon traditional banks. Ripple Labs, however, has gone down a path that would see them serve the very institutions that Bitcoin was built to circumvent.  While many are not swayed by this argument, there are those that do not support Ripple Labs and XRP, simply based on their goals.

Regulation?

Ripple Labs and XRP find themselves in a state of disarray, with regards to regulation.  While they remain steadfast in their belief that XRP is not a security, there are those who believe otherwise.  This has resulted in ongoing lawsuits arguing this point.

To date, there is no definitive answer on the classification of XRP.

*July 14, 2023 UPDATE*

After a multi-year court battle, Judge Torres, who was presiding over the case, announced a split decision surrounding the charges laid against Ripple Labs by the SEC.

“For the foregoing reasons, te SEC's motion for summary judgment is GRANTED as to the Institutional Sales, and otherwise DENIED.  Defendants' motion for summary judgment is GRANTED as to the Programmatic Sales, the Other Distributions, and Larsen's and Garlinghouse's sales, and DENIED as to the Institutional Sales.”

Simply put, Ripple was found guilty of selling unregistered securities directly to institutions, as these were clearly viewed as investment contracts.  Outside of this point, which is in favor of the SEC, it is widely viewed that Ripple ‘won' the case.  It was found that both programmatic sales of XRP and those made by Larsen & Garlinghouse did not constitute the sale of unregistered securities.

This decision was made due to the following distinction.

“…the vast majority of individuals who purchased XRP from digital asset exchanges did not invest their money in Ripple at all.  An Institutional Buer knowingly purchased XRP directly from Ripple pursuant to a contract, but the economic reality is that a Programmatic Buyer stood in the same shoes as a secondary market purchaser who did not know to whom or what it was paying its money…Therefore, having considered the economic reality and totality of circumstances, the Court concludes that Ripple's Programmatic Sales of XRP did not constitute the offer and sale of investment contracts.”

These rulings are significant, as many of the circumstances of the case and points made echo those of other digital assets on the market.  While each and every case is unique, a modest level of clarity has now been provided for the status of altcoins.

While the ruling may be challenged by the SEC, digital asset exchanges have already begun relisting the asset now that the fear of regulatory violation has diminished.  Moving forward, a trial will decide whether Larson and Garlinghouse knowingly aided in the illegalities that the company did take part in.