Ripple (XRP) launched in 2012 with a bold mission to shake up international remittances by using cryptocurrency to help people move money around the world. XRP has a loyal following which helped it reach an all-time-high price of $3.40 in January 2018.
While this has helped make XRP the #8 crypto by market cap, Ripple is still a highly volatile asset capable of major price swings in a single day.
Today XRP is trading for $0.491727, which is slightly down from yesterday's trading price of $0.4903272139. Ripple's seen a decrease of -6% over the past year.
So before you buy Ripple, make sure you understand these unique risks as well as its legal, regulatory and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions and a list of platforms you can use to buy Ripple in the US.
How to buy Ripple in 4 steps
To buy XRP all you'll need is a smartphone or
computer, an internet connection, photo
identification and a way to pay.
Compare crypto exchanges
The easiest way to buy Ripple is from a cryptocurrency exchange. Comparing in the table helps you find a platform with the features you want like low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit USD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy Ripple
You can now exchange your funds for Ripple. On beginner-friendly exchanges, this is as simple as entering the USD or XRP amount you want to purchase and clicking "buy". If you like, you can then withdraw your Ripple to a personal wallet.
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Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Where to buy Ripple in the US
If this is your first time buying cryptocurrency you'll need to look for a platform that accepts US dollars, like Gemini or Coinmama.
Don't worry too much about extra features or coins for now – you can always sign up with another exchange later.
Use the table to choose a platform that meets your needs and click the Go to site button to get started.
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What is Ripple?
XRP (XRP) was launched in 2012 by David Schwartz, Jed McCaleb and Arthur Britto. It was designed as a digital payment network to reduce the cost of international payments.
The XRP Ledger is an open-source and peer-to-peer decentralized payment gateway that aims to provide "utility for the new global economy". XRP is an asset on this network and is used by the company Ripple for cross-border settlements.
It acts as an infrastructure layer that supports low-cost, borderless transactions and allows for transferring money and cryptocurrency.
Unlike other cryptos such as BTC and ETH where new blocks are generated via mining or staking, XRP pre-mined 100 billion tokens at its launch.
These tokens were distributed to individuals and companies – which has called into question how decentralized XRP truly is – as a large majority are held by just a few entities.
To create an account with your chosen crypto platform, you only need an email address or mobile number. This will usually allow you to deposit cryptocurrency, but not USD.
If you want to buy Ripple with US dollars, you'll need to pass a Know Your Customer (KYC) check.
This is a standard security procedure for most exchanges in the US and requires you to upload some photo ID, and in some cases a selfie with today's date.
KYC is usually approved instantly, but in rare cases, you may have to wait a few hours or days.
What are the best ways to buy Ripple?
Once you've set up your account, you'll need to deposit funds to buy Ripple with. We've listed out some popular ways to buy XRP and what you should know about each payment method.
Many exchanges support free and instant bank transfers in the US.
Some offer other options like bank transfer and wire transfers, but make sure you check if you'll be charged a deposit fee first.
How you transact with a debit card will depend on the platform.
Some exchanges let you transfer funds from your debit card to spend as you like.
Others will only let you use a debit card to make instant purchases, which often involves higher fees.
Lots of exchanges accept credit cards as an instant purchase method. But you should think very carefully before buying Ripple with a credit card, because:
Credit card fees are higher than using bank transfers.
Some card issuers may block cryptocurrency transactions.
Your purchasing options will be limited and more expensive.
You may end up losing your initial investment and being charged fees and interest by your credit card provider.
Only a handful of platforms in the US offer PayPal deposits to buy XRP, including Coinmama and Kraken.
Because of the high risk of scammers taking advantage of PayPal's chargeback feature, PayPal purchases often attract high fees.
If you want to purchase Ripple from PayPal directly, US residents can now do so with the PayPal app.
Buying Ripple with cash isn't common in the US, but it can still be done.
There are a few ways to buy XRP with cash:
Ripple ATMs. You can purchase XRP with cash using a specialized Ripple ATM. These can be found in many major cities in the US. You will still need to hand over some photo ID and pass a Know Your Customer (KYC) check.
Peer-to-peer (P2P). You can use a P2P platform to find someone who will sell you XRP directly in exchange for cash. Beware that this comes with a high risk of fraud if you attempt to settle the transaction in-person or without an escrow service. Look for an established and reputable platform that provides an escrow service and facilitates your trade online.
You can swap any cryptocurrency you already own for XRP using the "swap" or "convert" service on some platforms. This lets you instantly exchange one crypto for another even if there is no trading pair on the spot market.
What is the cheapest way to buy Ripple?
Most exchanges let you buy as little as $5 worth of XRP, if not less. Just type in how much you want to spend in USD and let the exchange work out the rest.
Some platforms only offer 1 way to buy Ripple, while others provide several choices. The 2 most common ways to buy XRP are on the spot market or with an "instant buy" feature.
Instant buy
If it's your first time buying Ripple this will be the fastest method – but also the least cost-effective.
You'll usually find the instant buy section under a "Buy now" heading on the platform you've chosen.
It should feature a simple interface that lets you enter the amount of Ripple you want to buy, or US dollars you want to spend.
This is usually the only option available for credit or debit card purchases, but you may also be able to make an instant buy if you've pre-funded your account with a bank transfer.
Be prepared to pay a markup on XRP's market rate in exchange for the convenience.
Spot market
If you see colorful charts with a range of prices, you're probably in the spot market.
The spot market is where buyers and sellers come together to place bids for XRP on the open market. It's usually the cheapest way to buy Ripple because it lets traders set their own price.
You'll find the spot market under a "Trade" or "Spot" heading on the site or app menu of the platform you've chosen to use.
There are several different order types that you can make on the spot market.
Market order. This will buy you the amount of Ripple you specify at the lowest possible price available. This makes it like an instant buy order, but with much lower fees.
Limit order. This is the most common order type and lets you purchase Ripple at the price you specify. Traders use this to time the market and capitalize on price dips or increases.
How to find the best place to buy Ripple in the US
There are dozens of different trading platforms to choose from when buying Ripple in the US, so to help you find your best option, keep these factors in mind:
Where it's registered. Using a locally registered exchange is a good idea. It's more likely to accept US dollars and local payment methods like , which helps avoid foreign exchange fees. Choosing from US-based exchanges also means it's likely to be registered with the Financial Crimes Enforcement Network (FinCEN) which means it has to comply with local laws in the US.
Security. Look at the security features the platform has to offer, like 2-factor authentication and PGP-encrypted emails. Cold storage of user funds is considered industry standard, but insurance funds are less common and indicative of good security practices.
Fees. Check the fine print to find out exactly how much your transaction will cost. Depending on the platform you choose, these could include spreads, trading fees and deposit and withdrawal charges.
Transaction limits. Are there any minimum or maximum limits on the amount of Ripple you can purchase? Does the exchange restrict the amount of funds you can withdraw from your account in any 1 transaction or 24-hour period?
Other platform features. Look out for other features that suit your investment or trading needs. For instance, many exchanges now let you earn yield on your holdings, while some issue crypto debit cards to help you spend your coins.
Customer support. If you ever have a problem with a transaction, will you be able to quickly and easily get in touch with the customer support team? Are they based in the US? Check what contact methods are available and find out how quick the team is at responding to enquiries.
Insurance fund. A small number of exchanges now insure user funds. Beware that policies vary greatly between exchanges, so you'll need to research this thoroughly if insurance is important to you.
Reputation. As a young industry, reputation can provide a lot of clues when choosing an exchange. For instance, who are the founders? Have there been any controversies? Are their business practices transparent? If you can't find any of this information, that may be a red flag.
Range of coins. If you're thinking about adding other cryptos to your portfolio in the future, check to see what other coins you can buy through the platform.
Read reviews. Finder's crypto exchange reviews include user feedback, which helps you get a better idea of what the exchange is like to use for other people starting out just like you.
Why you should use a FinCEN-registered cryptocurrency exchange
Crypto exchanges founded and based in the US are required to register with the Financial Crimes Enforcement Network (FinCEN), a division of the US Department of the Treasury. This bureau safeguards the US financial system by working to prevent money laundering, terrorist-financing activity and other financial crimes.
FinCEN-registered exchanges contribute to a more secure financial system in the US and provide you with better consumer protections compared to exchanges based in other countries.
Other reasons for using a FinCEN-registered exchange may include the following:
They are subject to state-level regulation and laws.
They are more likely to offer US-based customer support.
They typically cover local payment methods such as ACH bank transfers and support transactions in US dollars (USD).
Recent XRP developments
2 November, 2023: The price of XRP is up 19% over the past month, after concluding Ripple’s case with the SEC and a market wide uplift led by Bitcoin 19, October, 2023: The SEC dismissed all remaining charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen. October 3, 2023: After announcing on September 12 that it would acquire crypto-payments firm, Fortress Trust, Ripple has cancelled the deal following an approximately $15 million hack of Fortress. 1 September, 2023: The SEC announces plans to appeal a landmark ruling in its case against Ripple, in which a judge sided with Ripple against the SEC.
Is Ripple safe to invest in?
You shouldn't invest in any asset, including XRP without doing plenty of research first. Before you buy Ripple, make sure you understand and weigh up these risks:
Price volatility. Ripple's price is largely based on speculation, which means it can rise or fall in a short time. It's not uncommon for XRP to lose more than 10% of its value in a single day.
Perceived value. XRP is a unique asset that does not have any tangible value. It derives most of its value from utility and speculation.
Exchange vulnerabilities. Leaving your Ripple on a crypto platform exposes you to several counterparty risks, including:
Scams. Scammers frequently try to trick exchange users into handing over their username and password, often by phishing with malicious emails or fake website links. Use 2FA and encrypted emails to help protect your funds.
Hacks and theft. Exchanges are vulnerable to hacks and theft, so choose one with good security practices and a track record of safety.
Fiscal mismanagement. In mid-2022 a number of crypto platforms froze user funds after it was revealed they had engaged in irresponsible funds management.
Insurance. Unlike stocks, only a small handful of exchanges provide insurance on your cash deposits.
Regulatory uncertainty. The regulatory environment for Ripple and other cryptos is constantly changing. It's important to understand how international rulings have the potential to impact Ripple's future – for better or worse.
Novel technology. Ripple was created in 2024 which makes it relatively new as a form of technology and as a currency. XRP doesn't yet have the same track record or performance history as some other asset classes.
Technical learning curve. Evaluating the tech behind XRP before you invest is important, but requires a deep understanding of the blockchain and other aspects of decentralized finance. You should be prepared to do plenty of research.
XRP vs Ripple Labs. Although the XRP asset is considered independent from Ripple Labs as a company, the 2 projects are still closely related and often confused for one another. Despite this close link, the success of Ripple does not necessarily guarantee that the price of XRP will appreciate. Ripple Labs has several technologies and services that do not incorporate XRP.
SEC lawsuit. The US Securities and Exchange Commission (SEC) is arguing that due to how XRP was issued to investors, it should be considered an (illegally) registered security. Although this lawsuit has been developing since 2020, it is yet to conclude and still has the potential to negatively impact XRP prices.
Majority owned supply. As the creators of XRP, Ripple Labs and its founders received 80% of the 100 billion total XRP supply after its token generation event. Although there are now precautionary measures in place – including a max distribution of 1 billion XRP per month – this makes the issuance of XRP centralized and the volume of tokens released each month may negatively impact prices.
Where could XRP's price be heading?
Finder's panel expects the XRP price to trade as high as $0.90 by the end of December 2022 from the current price of $0.53. However, should XRP lose its case with the SEC the panel expects its value to drop to $0.24. Unfortunately for investors, we won't know the outcome of the case until 2023.
Looking further down the road, the panel estimates XRP's value to hit $3.81 by the end of 2025 if XRP wins the lawsuit or $0.98 if it doesn't win.
Compare today's price of Ripple ($0.491727 USD) against its all-time high (ATH) price of $3.40 USD on January 07, 2018. The closer the bar is to 100%, the closer XRP is to reaching its ATH again.
Current price: $0.491727
All-time high: $3.40
14%
85%
How is Ripple taxed?
If you hold Ripple as an investment, you'll be taxed on any capital gains you make when you sell it — which includes spending it on goods and/or services. In the US, tax obligations also apply to mining, professional Ripple trading and in a range of other scenarios, so make sure you're fully aware of what you need to report to the IRS.
Once you own some XRP, you have 2 options – keep it on an exchange, or move it to a personal wallet. Each comes with its own set of pros and cons.
Keeping your Ripple on an exchange
Pros
Convenience. Keeping your Ripple on an exchange is convenient because you can buy and sell at any time.
Security. Holding Ripple on an exchange does come with significant counterparty risks, but reputable platforms also invest heavily in security so you don't have to worry about the pitfalls of self-custody.
Insurance. A small handful of exchanges now operate insurance schemes. These can range from insuring user deposits held in cold storage to reimbursing customers if a hack occurs.
Earn yield. Many exchanges now let you earn yield on your Ripple. This is achieved by lending your XRP so carries its own set of risks. Do your research before deciding if it's the right option for you.
Cons
Phishing. Exchange users are frequently targeted by scammers trying to steal login information through malicious emails and fake website links.
Hacking. Exchanges are major targets for hackers. While security practices have improved substantially, hacks still occur from time to time.
Account freezing. Exchanges have been known to occasionally freeze user accounts, whether due to security concerns, technical issues or market turbulence. This could see you temporarily lose access to your crypto.
Moving your Ripple to a non-custodial wallet
Pros
Self-custody. A mantra repeated by crypto investors is "Not your keys, not your coins." This comes from the idea that the only way to guarantee ownership of your Ripple is to own the private key — which isn't the case when you hold on an exchange.
Security. Ripple and cryptocurrency wallets vary greatly in their features and security. For the most secure experience, consider purchasing a hardware wallet, which is usually a small USB device that keeps your private keys offline at all times for an extra layer of security.
Utility. If you plan to use your Ripple for transactions, daily spending or decentralized finance (DeFi), then storing it in a wallet rather than an exchange will be more convenient.
Remittance. At its core, XRP Ledger is a payment gateway that can be used in the development of dapps, exchanges or cryptocurrency wallets where currency plays a role. By storing your XRP in a non-custodial wallet, you're able to interact directly on-chain and perform swaps and trades on DeFi exchanges.
Cons
Learning curve. It's no secret that learning how to use a crypto wallet takes some time and effort. Spend some time learning how Ripple wallets work before transferring any of your funds.
Personal responsibility. Owning your own money can be liberating, but it also means the responsibility is all yours. If you lose your private key, the only way to regain access to your wallet is through the seed phrase. Make sure to store both of these privately and securely.
Inheritance. A challenge presented by crypto wallets is how to pass access on in the event of death or disability. Several companies are experimenting with ways to solve this problem, like the Trezor Model T wallet's Shamir backup feature.
Web3 risks. Web3 "hot wallets" are connected to the internet at all times and their use with web applications makes them more susceptible to hacks and scams. Consider only transferring the amount you need and keeping the remainder of your XRP in cold storage with a hardware wallet.
Bottom line
If you want to buy Ripple, start by comparing a range of crypto brokers and exchanges available in the US. Look at their features, fees, security and overall reputation to decide which platform is the right fit for you. Use an exchange registered with FinCEN for added peace of mind.
Remember that owning and using Ripple is not without its risks. Carefully consider investing in XRP as part of a wider strategy, and talk to a financial advisor if you have any questions.
Once you've bought some XRP, think about what your short and long-term goals are. This will help you decide whether to keep it on an exchange, or move it to your own wallet.
FAQs
Can you still buy Ripple (XRP)?
You can still buy XRP in the United States on certain centralized crypto exchanges like Kraken or with a credit or debit card or using the swap function via an app like Atomic Wallet.
Where can I buy Ripple (XRP) cryptocurrency?
You can buy XRP via Kraken or with Atomic Wallet. Most US-based crypto exchanges do not currently support XRP right now due to a lack of legal clarity regarding whether the asset should be classified as a security or not.
Can you buy Ripple (XRP) on Coinbase?
You cannot currently buy XRP on Coinbase in the US. Coinbase delisted XRP in January 2021, soon after the U.S. Securities and Exchange Commission (SEC) alleged that XRP was a security and charged XRP's parent company — Ripple — with violating securities laws.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Disclaimer: Cryptocurrencies, including Ripple, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of XRP is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Ripple or any other cryptocurrency discussed.
James Edwards is the global cryptocurrency editor at Finder. He coordinates a distributed team of journalists to help further Finder's mission of helping people make better financial decisions.
He has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in boiling down complex topics into language his parents can understand.
His expertise has seen him called on to report at events such as TechCrunch Disrupt, CoinDesk Consensus and IBM Think and has coordinated a vast number of high-profile interviews with the industry's brightest minds.
He is a regular contributor to Nasdaq, The Street and is frequently called upon for market commentary in Australia and abroad.
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