How to Buy Ripple (XRP) in 2024

XRP is one of the world’s largest and longest-standing cryptocurrencies. Created by Ripple Labs, XRP has maintained its position at the forefront of the cryptocurrency industry since its launch in 2012.

However, because of regulatory problems and a lengthy lawsuit with the Securities and Exchanges Commission (SEC), buying XRP hasn’t always been easy, especially in the US.

Thankfully, there are a number of different ways to invest in XRP, all of which I’ve covered in detail below. Keep reading to learn how to buy XRP, where to buy XRP and why you might want to consider investing in this specific cryptocurrency.

How to Buy XRP in 5 Steps

Here is a quick overview of how to buy XRP in 2024. For a more detailed guide, scroll further down this page.

1. Find an exchange – Find a safe, secure and reputable cryptocurrency exchange that offers XRP
2. Deposit funds – Add funds to your account, ideally in the form of fiat currency
3. Visit the “Ripple (XRP)” market page – Visit the Ripple market page
4. Buy XRP – Click “Buy” or “Trade” and choose how much XRP you want to purchase
5. Transfer your XRP to a crypto wallet – Transfer your new XRP tokens to a secure wallet

What is Ripple (XRP)?

XRP is a cryptocurrency created by Ripple Labs, an American-based company focused on enabling cross-border payments for large financial institutions. Ripple connects more than 80 different markets by using blockchain technology to facilitate transparent, flexible payments with real-time settlement. 

Perhaps most importantly, these payments are regulated and compliant with government legislation. In fact, Ripple’s cross-border payments are SOC2 Type II compliant and ISO 27001 compliant, with Ripple itself a member of the Payment Association and the American Bankers Association.

There are three main components of the Ripple ecosystem, all of which are often confused with one another:

• XRP Ledger (XRPL) – A decentralized, Layer 1 blockchain that enables tokenization and cross-border payments
• XRP – The native cryptocurrency token of the XRP Ledger
• Ripple – An enterprise blockchain solutions company

XRP is Ripple’s native cryptocurrency, with the company describing it as “the digital asset for real-world utility”. XRP facilitates transactions on the XRPL network, protecting it from spam and bridging currencies in the XRP Ledger’s native decentralized exchange (DEX).

As of December 2024, XRP has helped to process almost $3 billion in transactions, representing more than $1 trillion in value moved between different parties. There are also more than 5 million XRP wallets around the world.

Why Invest in XRP?

XRP is one of the most popular altcoins amongst investors, for a number of reasons.

Firstly, XRP is one of the only cryptocurrencies with regulatory clarity, with Ripple Labs winning a lawsuit against the SEC, the result of which determined XRP not to be a security. This makes it an attractive option for institutional investors, who may be wary of investing in unregulated assets.

XRP enables lightning-fast, affordable transactions that settle every 3-5 seconds and cost a fraction of a cent. This makes XRP a cryptocurrency with real utility, and therefore arguably more likely to experience mainstream adoption.

In December 2024, the RLUSD stablecoin, created by Ripple Labs, was approved by the New York Department of Financial Services (NYDFS). RLUSD was launched as a competitor to USDT and USDC, and will help to facilitate large-scale transactions between financial institutions. The implementation of RLUSD could see the Ripple ecosystem growing, which would naturally benefit XRP as a result.

How to Choose a Platform to Buy XRP

If you’re looking to invest in XRP, you’ll first need to find a platform on which to do it.

Exchanges vs Brokers

When investing in XRP, you’ll be able to choose between a cryptocurrency exchange or a cryptocurrency broker.

A cryptocurrency exchange is a platform that allows you to buy, sell and trade XRP – and other cryptocurrencies. There are two primary types of cryptocurrency exchange:

• Centralized Exchange (CEX) – Conducts exchanges on behalf of a user and will hold a users’ assets
• Decentralized Exchange (DEX) – Users trade peer-to-peer, directly from a crypto wallet

Centralized exchanges will typically allow you to buy XRP using fiat currencies or by swapping one cryptocurrency for another. On the other hand, decentralized exchanges will require you to own another cryptocurrency that is traded on that exchange.

Compared to cryptocurrency brokers, a cryptocurrency exchange allows you to trade cryptocurrencies directly and will provide you with access to a range of different assets alongside XRP – this could include non-fungible tokens (NFTs), stablecoins, and more. Exchanges, especially centralized exchanges, will often also have high trading volumes and liquidity, making it easier for you to buy and sell cryptocurrencies.

A cryptocurrency broker is a company (or individual) that acts as an intermediary between buyers and sellers. A broker will facilitate a trade and will usually charge a fee for doing so. Using a cryptocurrency broker can be more convenient and provide additional security, but they’ll usually charge higher fees than an exchange and will often offer less variety.

How to Buy Ripple Currency Safely

Once you’ve decided where to buy XRP, you need to know how to buy XRP safely.

• Do your research – Always do your research before committing real-money to an XRP trade. Understand how Ripple and XRP works, and make sure you understand the long-term potential of any projects you’re considering investing in. Take a look at the tokenomics of XRP and understand that the cryptocurrency market is incredibly volatile.
• Use reputable exchanges – Only buy XRP from reputable exchanges. Only use the best centralized exchanges or decentralized exchanges with high liquidity.
• Only invest what you can afford to lose – As with any investment, you should only buy XRP with money that you can afford to lose. Although it’s a cryptocurrency with good potential, there’s no guarantee that you’ll make money by investing in XRP.
• Diversify your portfolio – Always diversify your portfolio, both by buying a range of cryptocurrencies within different sectors (AI, gaming, meme coins, etc.) but also by investing in different asset classes such as stocks and commodities. This way, you’re able to hedge against the cryptocurrency market while still taking advantage of any positive price trends.
• Store in a cold wallet – Always store your XRP in a safe cryptocurrency wallet, ideally offline in a cold wallet. A cold wallet is a physical storage device (almost like a memory stick) that only the holder of the device itself can access. This will keep your XRP safe from hackers and malicious actors.

How to Buy XRP in 2025 for Beginners

Still wondering how to buy Ripple (XRP)? Here’s a simple step-by-step guide to help you understand the process.

Step 1: Sign up to an exchange

First, you’ll want to sign-up to an exchange. If you’re using a centralized exchange – which is perhaps the simplest, most beginner-friendly method – you’ll need to register for an account.

To do so, the exchange will likely ask for your personal information, including your name, email address and home address. Depending on the exchange, you’ll also probably need to provide some information about your future investments – how much you’re planning to invest, what you’re planning to invest in and how much you know about investing in cryptocurrencies specifically. This is done to ensure that you understand the risks associated with the cryptocurrency market.

Step 2: Verifying your account

Once you’ve provided all of the necessary information, you’ll need to verify your account. Unlike decentralized exchanges, which allow you to buy XRP anonymously, centralized exchanges will require you to undergo rigorous Know Your Customer (KYC) checks to verify your identity.

As well as clicking a link in your email to confirm that you’re the account holder, you’ll also need to send a photo of your driving license or passport, and you’ll potentially need a copy of a recent utility bill to prove that you genuinely live at the address provided.

It may seem like a lot of hassle, but it’s the exchange’s way of adhering to legal regulations and keeping the platform safe.

Step 3: Fund your account

Once you’ve created your account, you’ll need to fund it! Centralized exchanges will allow you to fund your account using fiat currencies, which is probably the easiest way for a new investor. You can potentially fund your account by transferring a previously-owned cryptocurrency to it, but this is more appropriate for traders with slightly more experience.

There are usually two ways to buy XRP with fiat currency – either by funding an account or purchasing it directly. To fund your account, you’ll simply need to find the “Deposit” page, choose your preferred payment method, and then follow the instructions to add your chosen fiat currency into the relevant wallet (USD Wallet, GBP Wallet, etc.). Once the funds are in your account, you’ll be able to visit the “Ripple (XRP)” page and use those pre-deposited funds to purchase XRP.

How to Buy Ripple with Credit Card

If you want to buy XRP with a credit card, any centralized exchange should be able to facilitate this. You’ll need to visit the “Ripple (XRP)” market page and click “Buy” or “Trade”. Then, select the appropriate payment method – in this case, a credit card – and decide how much XRP you’d like to buy.

Here, you can either input the number of XRP tokens you want to buy or you can decide how much of a particular fiat currency you want to spend – the amount will be the same, but one option might be easier for you than another.

Then, follow the instructions and add your credit card details. Check the transaction to make sure you’re happy with all the details (including the fees) and click through to confirm!

How to Buy Ripple with Bank Transfer

If you want to buy XRP via bank transfer, the process will be almost the same as above. Visit the “Ripple (XRP)” market page and click “Buy” or “Trade”. Decide how much XRP you want to buy, and then confirm your bank details.

Check the details of the purchase and make sure you understand how long the process might take – remember, bank transfers can take a couple of days to be finalized!

Storing Your XRP

Once you’ve bought XRP, you’ll need to store it securely. If you’ve purchased XRP via a centralized exchange, you’ll probably be able to leave it on the exchange itself. However, it’s worth noting that this isn’t the most secure storage solution, and storing your XRP tokens outside of the exchange will provide you with greater control of your investment.

How to choose a crypto wallet

First, you’ll need to choose a cryptocurrency wallet. The best crypto wallet for you will depend on your investment time-horizon and risk management strategy.

There are two primary types of cryptocurrency wallet:

• Hot Wallet – A storage solution connected to the internet, usually in the form of a browser extension of mobile application
• Cold Wallet – An offline wallet that is not connected to the internet, usually in the form of a physical storage device

Hot wallets are more accessible than cold wallets, potentially making them a better option for short-term traders that will be actively trading with their XRP tokens. However, hot wallets are not as secure as cold wallets – primarily because they’re connected to the internet – so long-term investors might prefer to store their XRP in an offline storage solution for greater security.

The best cryptocurrency wallets for XRP include:

• Ledger – A physical cold wallet
• Atomic Wallet – A multi-chain hot wallet
• Trezor – Another physical cold wallet
• Trust Wallet – A multi-chain, mobile-based hot wallet

How to Protect Your Investments

Once you’ve bought XRP – or any other cryptocurrency – it’s essential that you protect your investments.

• Never give out your seed phrase – When you create a cryptocurrency wallet, you’ll be provided with an automatically-generated seed phrase that is usually 12- or 24-words long. Make sure you store this phrase somewhere safe, ideally offline, and never give it out to anybody.
• Store your XRP in different places – If you have significant holdings of XRP, you should store tokens in different places, across different wallets. This way, if one of your wallets is compromised, you won’t lose your entire investment. As most hot wallets are free to create, it won’t cost you more to diversify your storage solutions.
• Use two-factor authentication – Always use two-factor authentication where applicable. When creating an account on a centralized exchange or downloading a cryptocurrency wallet, use 2FA to make it more difficult for somebody else to access your account without permission.
• Avoid networks that are not secure – Never join networks that are not secure, especially when making an investment or accessing your XRP holdings. Use a VPN for additional security and try to limit your exposure to unsafe networks.

Conclusion

Ripple is one of the world’s most established cryptocurrency-focused companies, with a number of real-world applications and significant mainstream adoption. XRP, Ripple’s native utility token, plays a crucial role across the Ripple Labs ecosystem and has long been a fan-favorite cryptocurrency. 

If you’ve decided to invest in XRP, always do your research before making a purchase. Store your XRP safely, don’t invest more than you can afford to lose, and don’t make emotional investment decisions when the price of XRP ultimately rises or falls.

FAQs