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As the cryptocurrency market grows, more and more coins are launching every day. Among them, XRP (Ripple) is one of the top ten coins in terms of growth. As such, its position in the market and its value is a positive sign for investors considering investing in this crypto asset, which has been growing in popularity over the years.

In this guide, we will discuss what XRP is, the pros and cons of this cryptocurrency known in the crypto space, why you should consider it as an investment option and which platforms our experts recommend you buy the currency on.

Where to buy XRP in June 2024

Listed below, you will find the best platforms to buy XRP in 2024. Our team of writers tested several platforms that are available to US traders to find sites that offer low fees, a good range of features and tools and a user-friendly interface.

  1. eToroeToro is a regulated crypto exchange that supports over 25 cryptocurrencies, including Ripple. eToro is popular because it offers copy trading crypto portfolios, which make it easier for beginners to make informed trading decisions. eToro also supports the trading of stocks, forex, indices and commodities. You can the free demo account to test the platform before putting any real money at risk.
  2. CoinbaseCoinbase is the world’s largest cryptocurrency exchange that provides access to over 200 crypto tokens and 470 crypto trading pairs. The platform charges a low spread of just 0.5 for each Ripple transaction and charges no account fees. You can store your crypto in the Coinbase wallet to use it on other decentralized platforms.
  3. Kraken –  Kraken is a popular crypto exchange that offers over 200 cryptocurrencies including Ripple. The main advantage of Kraken is that you can trade from just $10 and it is possible to use leverage. The crypto exchange is easy to use, even for beginners and can be accessed on desktop or mobile.
  4. Binance – Binance is a trading paltform that is suitable for crypto traders who also want to invest in NFTs. The platform is known for offering a large range of digital assets and low fees. Fees start at 0.1% for trading crypto and holders of the native BNB token can have these fees lowered even further.

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.

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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong.

What is XRP?

where to buy xrp ripple logoXRP is the native utility token of the Ripple Labs blockchain network. The XRP ledger aims to improve blockchain functionality through fast speeds and interoperability.

The most important feature of Ripple is the fact that financial transactions are validated by consensus. This is unlike Bitcoin, which requires that miners source their time and computing power to validate transactions and generate more Bitcoin in the process. Thus, Ripple won’t engage in a mining process that involves a great deal of computing power.

It generates coins using an innovative mechanism making it different from popular cryptocurrencies like Bitcoin. XRP is entirely pre-mined. Within the Ripple payment network, new coins are released every month based on how many transactions occur.

Using this unique blockchain system, transactions with Ripple are extremely fast compared to other most commonly used crypto assets, thanks to the unique nature of the technology. For example, compared to a Bitcoin transaction, which could take a few seconds to complete, sending and receiving Ripple is instant worldwide. For this reason, Ripple can be useful on the scale of fiat currencies like the US dollar, which makes it much more suitable for widely used.

There is an important distinction to be made, however, between the term ‘Ripple,’ which refers to both the cryptocurrency – which is officially called XRP – and the company, Ripple Labs, which built the blockchain system for XRP. In addition to operating Ripple, Ripple Labs manages a network of over 200 financial institutions that are part of a global effort to facilitate cross-border payments by using Ripple.

Why Should You Consider XRP?

Traders and investors from around the globe have shown an increasing interest in Ripple in recent years. In spite of XRP’s price, this can be seen by the fact that the crypto’s market cap is $1.67 trillion, a 4.63% change in the last 24 hours and 88.73% change one year ago, according to the source. 

Please note that Ripple only appears to be a viable investment based on its price, and this is especially true when considering that you can buy a fractional piece of cryptocurrency, such as Bitcoin if you have a smaller investment to make. However, you should also consider Ripple when you are looking to trade and invest in cryptocurrencies because there are a number of reasons why it would be a good choice.

To name one notable feature, Ripple’s payment system stands out among the rest. With the Ripple payment system, people can make transactions much faster than they could be using Bitcoin or Ethereum. There are about 1,500 transactions handled by Ripple every second, while Bitcoin is able to handle 7 and Ethereum is able to handle around 30 TPS. Therefore, XRP coin has a high probability of benefiting from the availability of liquidity offered by Ripple.

ripple homepage

There is no doubt that Ripple has already proved its ability to compete both on a global scale and on a local scale. More than 100 financial institutions in 50 countries have already adopted Ripple as a means of facilitating interbank transactions and cross-border payments.

Over $500.000 of savings are made by banks that use Ripple to facilitate payments that normally take a considerable time in processing primarily because this technology makes payments more efficient.

Additionally, banks that utilize Ripple without XRP can achieve a 33% reduction in international payment costs. This cost reduction results from a 65% decrease in liquidity expenses, a 48% decrease in payment operation expenses, and a substantial 99% decrease in Basel III compliance expenses.

How Much Does it Cost to Purchase XRP?

Ripple’s legal battle with the SEC has taken a new twist as Judge Analisa Torres rejected an early appeal request, delivering a setback to the commission. In a significant development, the judge turned down the SEC’s plea for an early appeal, dealing a considerable blow to the regulatory agency’s intentions to challenge specific aspects of her prior ruling.

The crux of the judge’s decision revolved around distinguishing between different types of XRP transactions by Ripple. Institutional sales were deemed as securities transactions, while programmatic sales and other distributions were excluded. This distinction was based on the differing profit expectations between programmatic and institutional buyers.

Ripple Labs Inc. achieved two victories in separate legal developments. They obtained full authorization from the Monetary Authority of Singapore (MAS) to operate as a digital payment token service provider. This official approval not only bolsters Ripple’s position in the cryptocurrency industry but also opens the doors for its Asia Pacific subsidiary, Ripple Markets APAC Pte Ltd, to expand its influence throughout the region.

These events have triggered a surge in the price of XRP, closely monitored by the crypto community for its potential impact on Ripple and the broader crypto market.

You can purchase Ripple on a vast majority of crypto exchanges worldwide. However, you should consider all the details before deciding which exchange you’d like to join so that you can make an informed decision.

Ripple transaction spreads can range from 0.5% to 1.5%.  If you decide to buy or sell Ripple, you can expect to pay between 1% and 3% of the total amount you spend. It has been reported that some exchanges are offering reduced spreads, but they charge so many additional fees that ultimately make the cost of buying Ripple significantly higher.

How to Buy XRP Step-by-Step in 2024

Wondering how to buy XRP? Below, you will find the steps that need to be followed to open an account at eToro, one of our recommended brokers. On eToro you and deposit and buy Ripple XRP through your favorite payment method.

1. Open An Account

After you access the website, you will notice a registration button. You will need to click on it to create a new account as soon as you open it.

etoro where to buy xrp in the us

Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.

2. Upload your ID

For the purposes of validating your identity and facilitating the registration process, you must provide a copy of a valid government-issued identification document during the registration process. There are several types of identification documents that you can use with eToro, such as a passport, a driver’s license, or proof of residency.

etoro best place to buy xrp

 

3. Deposit funds

Although some brokers may require you to make an initial deposit of at least $250 in order to start your trading, it is possible for you to deposit as little as $50 on eToro.

4. Buy XRP

The market has many options for investing your money. So you will be able to choose from a variety of investment options. So how to buy ripple XRP? If you will be only buying Ripple, you can use the keyword ‘XRP’ in the search bar. This will refine your search and only display results related to Ripple. On the next page, enter the amount you are going to buy, and choose the option to ‘buy ripple’.

where to buy xrp with credit card

Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.

How to Buy XRP with PayPal

PayPal has been experimenting with a new service that allows you to trade cryptocurrencies and it has been offering it over the last couple of weeks, but it does not currently support Ripple. So you may wonder, where can I buy XRP? You can still indirectly purchase Ripple by using PayPal if you are willing to go this route.

PayPal logo

PayPal can be used to fund your account on many popular crypto exchanges. Basically, all you need to do is transfer the funds from PayPal to your exchange account and then proceed as normal to buy XRP with Paypal as this guide explains to you. A PayPal account is what replaces your bank account in this situation. It is similar to using a bank account to buy XRP from a cryptocurrency exchange, except that you are using your PayPal account instead of a bank account.

How to Buy XRP with Bitcoin

It might sound confusing for new traders to think about buying one cryptocurrency with another. Ripple can be purchased with Bitcoin if you already own this digital currency. In most instances, exchanges allow you to convert Bitcoin into XRP (or any other cryptocurrency) for a spread, so you don’t have to pay extra fees.

buy xrp with bitcoin

To convert Bitcoin to Ripple, just go to your exchange account and buy Ripple. In case you only have Bitcoin in your account, then this will be used automatically to purchase Ripple for you. It is also possible to select which currency to buy XRP using if you have both Bitcoin and fiat currencies in your account.

How to Buy XRP Safely

Using a cryptocurrency exchange, such as eToro, provides the safest way to buy XRP. Be sure that the exchange you use is regulated by financial regulatory agencies, such as the UK Financial Conduct Authority. You should also make sure that you have a cryptocurrency wallet so that you can hold XRP. Most, though not all, cryptocurrency exchanges offer managed wallets.

These allow you to keep all of your earnings, just as you would with a traditional brokerage firm. If you choose to use an exchange, make sure it has a strict security policy in place to protect customer wallets. It is highly recommended that you avoid creating and managing your own wallet. Self-managed wallets are much more vulnerable to attack, theft, and loss.

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.

Risks of Buying XRP

Every investment carries a degree of risk and XRP there are no guarantees that it will deliver in the long term. The advantage of this asset is that it has built up a network of well-established financial institutions in comparison to its competitors.

However, many other startups offer the prospect of developing and improving the global payment system. That said, Bitcoin remains a much more popular name and is accepted by many larger and smaller businesses alike, even though Ripple offers much faster payment speeds than this cryptocurrency.

XRP’s regulatory risks

One of the primary concerns regarding XRP is its classification as a security. The Securities and Exchange Commission (SEC) in the United States has filed a lawsuit against Ripple Labs, the company behind XRP, alleging that the cryptocurrency is an unregistered security. If the SEC’s claim is upheld, it could have serious consequences for XRP investors, including potential fines and penalties.

Furthermore, the regulatory risks surrounding XRP extend beyond the jurisdiction of the United States. Several countries, including the United Kingdom and Japan, have also raised concerns about the status and regulatory compliance of the cryptocurrency. This global regulatory uncertainty adds another layer of risk for investors, as different countries may have different approaches to regulating XRP.

In addition to the regulatory risks related to its classification as a security, XRP also faces potential risks from anti-money laundering (AML) and know-your-customer (KYC) regulations. Cryptocurrencies, including XRP, have been associated with illicit activities such as money laundering and terrorist financing. As a result, governments and regulators worldwide are implementing stricter AML and KYC rules, which could impact the use and value of XRP.

Selling XRP

If you’re looking to sell XRP, it’s important to understand the process step by step. XRP is one of the most popular cryptocurrencies in the market, and knowing how to sell it can help you make the most of your investment.

First, you’ll need to find a reliable cryptocurrency exchange that supports XRP trading. Look for exchanges that offer low fees and high liquidity – this will make it easier to sell XRP.

Once you’ve chosen an exchange, create an account and verify your identity, as most exchanges require KYC (Know Your Customer) procedures. This typically involves providing your personal information and sometimes submitting documents to prove your identity.

After your account is verified and funded, navigate to the trading section and search for the XRP trading pair, such as XRP/USD or XRP/BTC. Choose the desired trading pair and enter the amount of XRP you want to sell. You can either sell at the market price or set a specific price limit.

Once you’ve made your trade, your XRP will be converted into your desired currency, such as USD or BTC. Depending on the exchange, you can withdraw the funds directly to your bank account or transfer them to another cryptocurrency wallet for further trading or investment.

Is it Worth Investing in XRP in 2024?

Before concluding whether or not XRP is a good investment for 2024, it is important to note that XRP is currently undergoing a lawsuit against the SEC. This has caused the price of XRP to be volatile and makes the asset a fairly risky investment until the case has been resolved.

However, XRP is considered to be one of the most environmentally friendly cryptocurrencies to invest in, which is an important factor to consider in light of the current climate crisis. Some experts believe that the token has a chance to rise in 2024, especially if Ripple wins the SEC case.

Ripple SEC

XRP’s growth potential

After examining past XRP price movements,  estimates show that the minimum value of XRP could reach around $0.475 in 2024. The projection for the maximum XRP price suggests a possible value of around $0.605. On average, expectations are that the trading price in 2024 could be around $0.735.

XRP is currently trading at $0.6267, up 0.81% in the last 24 hours. The probability of reaching the $1 threshold is relatively low at the moment. The belief is that this event will happen in the future, although there is no specific timeframe. Over the past 12 months, the token has seen a significant increase in value of 65.91%, accumulating a market capitalisation of over $33 billion.

Where to buy XRP in June 2024

Before investing in XRP, or any crypto, it is a good idea to have a look at the different cryptocurrency exchanges that are available to use. Each options better suited to different strategies so, take time to research which exchanges are the best for your experience level and goals.

1. eToro – Overall best trading platform for buying XRP

etoro where to buy xrp 2023As one of the most popular crypto exchange platforms, eToro has millions of users, good regulation, and is easy to operate. The site has useful features like a mobile app, demo trading, social trading, and more.

There is no commission fee associated with eToro. However, eToro has a 2.45% spread on cryptocurrencies, such as Ripple. Furthermore, there are some fees that eToro charges that might be similar to those charged by other exchanges such as an inactivity fee or withdrawal fee that you should factor into your trading strategy from the beginning.

etoro where to buy xrp in USA

eToro also positions itself as a social trading platform with a wide range of features. Traders can follow each other and discuss changes in the price of Ripple by hosting online discussions. As an added bonus, eToro comes with a feature that lets you see the percentage of traders that are buying Ripple and how many are selling it. Additionally, the platform has copied portfolios, which allow you to automate the process of copying the moves of professional cryptocurrency traders automatically.

etoro where to buy xrp coin

 

As well as offering multiple payment options, it also has its own crypto wallet which includes 24/7 customer service, which is one of the reasons why it ranks as one of the top cryptocurrency exchanges on the market today.

Pros:

  • Trading without commissions
  • Offers a variety of popular cryptocurrencies
  • FCA Regulation
  • User-friendly mobile app
  • Available in various countries
  • Demo account

Cons:

  • Technical analysis is not suitable for advanced traders

Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.

2. Coinbase – The world's largest crypto exchange

coinbase logoMore than 3,000 cryptocurrencies are available for trading on Coinbase. A large number of tools are available on its platform that are helpful to crypto traders and investors. It enables you to carry out multiple recurring investments and create a diversified portfolio of digital currencies with the help of multiple recurring investments.

The downside of Coinbase is that it costs a lot of money to use these tools. So how can you buy XRP on Coinbase at the lowest possible cost? Unfortunately, if you want to buy Ripple on this platform, it charges a 0.50% spread for each transaction, plus a flat fee based on the volume of the trade. The good news is that there are no account fees.

It is also possible to use a self-managed crypto wallet on your smartphone to send money and pay for everyday purchases using Ripple or other cryptocurrencies. Furthermore, if you're interested in crypto trends beyond trading, Coinbase is also building an NFT trading platform.

Coinbase offers the option to buy XRP with your debit card. If you wish to use Coinbase to deposit and withdraw funds, you may use this payment method as well as a debit card and bank transfer. Withdrawing funds from your account can be instantaneous to a credit card, but a 2% fee will be applied on top of that.

where can you buy xrp on coinbase

Pros:

  • There is no minimum deposit requirement
  • Regulated by the Financial Conduct Authority (FCA)
  •  Trading XRP through an advanced platform
  • Wallet built into the app

Cons:

  • Charges for transactions are high

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.

3. Kraken - One of the largest crypto exchanges

kraken where to buy xrp

Kraken is one of the largest crypto exchanges in the world that supports over 200 crypto assets, including XRP. At the time of writing, the exchange is offering new users the chance to win 1 BTC which makes now the best time to sign up.

You can start trading on Kraken with as little as $10 and the platform charges low fees for crypto trades. What's more, Kraken is available on mobile app for trading on the go and provides users with advanced charting tools to conduct analysis.

kraken xrp crypto where to buy

Kraken provides Ripple margin trading options, allowing you to leverage XRP with up to 2-3x. User can engage in margin trading to go long or short on Ripple with leverage of up to 2-3x.

Kraken is notoriously one of the easiest crypto exchanges to use. The platform has a clear interface and provides an extensive range of educational materials and resources.

It is possible to trade with leverage of up to 5x on Kraken. Users can also trade crypto futures or spot trading. Staking is another appealing feature of Kraken. It allows investors to earn passive income by locking up their investments for a set period of time.

Pros:

  • Over 200 cryptocurrencies available.
  • Stake tokens to receive up to 20% annual rewards.
  • 24/7 customer support service.
  • KrakenPro supports margin trading, spot trading and futures trading.

Cons:

  • Social trading is not available.
  • Kraken is not regulated.

Your capital is at risk.

4. Binance – Best cryptocurrency exchange to buy XRP with credit card

how do i buy xrp binanceThe Binance exchange is one of the best place to buy XRP for advanced cryptocurrency traders and/or buying with credit card. An easy-to-use platform that includes technical indicators, a complex order type system, and access to all cryptocurrency order books and order histories are some of the perks that give this platform an edge over other brokerage firms. Binance is also the first place if you wonder how and where to buy NFTs.

Even though Binance was designed for experienced traders, it also offers a lot of features to beginners. To assist you in learning about the cryptocurrency trading market, the platform offers a series of tutorials and training videos. It is also possible to ask questions in the trading forum. The Trading forum is a great place where traders and professionals can offer you tips and advice.

binance where to buy xrp for beginners

In terms of the fees charged in trading, they start at 0.10% per trade. The simple act of holding BNB will reduce your fees by as much as 40%. However, you should be aware that Binance can be much more expensive if you use the platform's instant funding options rather than depositing funds before the trading period starts. Binance's system accepts credit cards, debit cards, and even bank transfers in order to facilitate your payments experience.

Pros:

  • Tools and indicators with more advanced features
  • Low spreads
  • Mobile App available
  • Innovative trading platform

Cons:

  • There are some aspects of the interface which are not entirely intuitive for beginners.

Ranking criteria

When choosing the platforms we reviewed earlier, our experts pointed out some important aspects. One of the most important and crucial is security, especially when it comes to cryptocurrencies. The crypto market is a volatile market and scams are common, so it's important to choose a secure trading platform. For example, the FCA regulates both eToro and Coinbase, which increases the level of security.

Another aspect is the fees and commissions charged. Some platforms do not charge additional fees for transactions, while others do. The other feature we would like to draw your attention to is the accessibility of the platform. We have chosen options that give you easy access and there are even applications available.

We also chose options that offer a demo account, such as eToro. This is a perfect opportunity for investors who are just starting out and need to familiarise themselves with the platform. Advanced traders can opt for Binance where they can get technical indicators and many other features.

Conclusion

Looking at the future opportunities for the Ripple cryptocurrency, it looks like it has a good potential to grow. Many financial institutions that have banned the use of Bitcoin, Ethereum and other digital currencies have taken note of Ripple's cross-border payments, fast transaction processing and high liquidity. Ripple's development opens the door to wider adoption of the technology. This could potentially lead to higher prices in the coming years.

In this guide, we have discussed all the important information about this cryptocurrency, including the platforms where you can buy it. If you decide that XRP is a suitable option for you, don't forget to do your own research beforehand to make a smarter decision.

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.

FAQ

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References: 

Omar Ortiz Freelance Writer

Omar Ortiz Freelance Writer

Omar is a seasoned writer with a strong background in media. He has written for several high authority websites including Stockapps.com and Buyshares.co.uk, as well as TradingPlatforms.com.

Thanks to his strong investment knowledge, Omar is able to write in-depth stock trading and cryptocurrency articles that help readers to make informed decisions. He invests in the financial markets himself and is interested in sharing his expertise with others. 

Before starting his career as a freelance writer, Omar studied at the Universidad de Bogotá Jorge Tadeo Lozano in Columbia.