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How to Buy XRP in 2022

Last updated 20th Jan 2022

XRP (XRP) is a popular cryptocurrency that enables quick and cheap transactions across the globe.

In this guide, we look at how to buy, sell and trade XRP along with important considerations to keep in mind before making a decision. Read on to find out more.

Best Brokers To Buy XRP in 2022

Buying XRP nowadays is easier than ever before as there are plenty of platforms that support the token.

Below, we have listed the top providers with easy sign-up and beginner-friendly features to help you get started right away.

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More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
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Over 500 cryptocurrencies for trade
Low fees, comprehensive charting options
Wide selection of transaction types
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Trade and invest in over 25 cryptocurrencies
Extremely simple user interface
Over 68 million customers
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Hot wallets include insurance to protect your assets from theft and hacking attempts
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First transaction fee free
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Key Takeaways

  • Best platform: eToro

  • Top payment method: credit/debit card, bank transfer

  • Security measures: activate 2-factor authentication, never reuse passwords and store coins in a private wallet

  • Do not: invest money you cannot afford to lose

What Is the Difference Between Owning XRP vs a Derivative Product?

There is a difference between owning a digital asset outright and trading using derivative products offered on some platforms.


When you buy XRP on a cryptocurrency exchange through the spot markets, you own the XRP tokens outright. This means that you can withdraw them into a private wallet and spend them wherever they are accepted.

Derivative products

Derivative products can be found on both exchanges and brokerages and they allow users to speculate on price without owning the underlying asset. For some people, this is a preferred method as it means they do not have to deal with the technical side of crypto, such as setting up wallets and storing private keys.

Different Ways To Buy XRP

  • Cryptocurrency brokerages - eToro

  • Cryptocurrency exchanges - Binance or FTX

Where To Buy Ripple




- Easy sign-up process

- Plenty of payment options

- Uses derivative products which mean users can avoid the technicalities of crypto

- beginner-friendly

- More coin availability than brokerages

- Can buy at market price

- can withdraw assets at any time


- Price of assets may be higher than on exchanges

- In some cases, you cannot withdraw assets from the platform

- Less beginner-friendly

- Platform may be complicated to use at first

- Withdrawal fees can be high

How To Buy XRP Online?

For most newcomers, brokerage platforms are easier to use than cryptocurrency exchanges. This is because their user interface is more beginner-friendly and less complicated to navigate.

In this section, we have provided a step-by-step guide on how to make your first XRP purchase:

  1. Go to the official eToro website and sign up for an account

  2. Provide the required identification documents for KYC/AML regulation

  3. Add your desired payment method, this could be a credit/debit card or a bank transfer, and deposit some fiat currency (USD, GBP, etc) into your account

  4. Use the search bar to find the XRP markets, e.g. ‘XRP’

  5. Enter the number of XRP coins you wish to purchase and confirm the transaction

  6. The coins should appear on your open positions page shortly after

How To Trade XRP?

XRP can be traded on both exchanges and brokerages however, this process is perhaps easier on brokerage platforms due to their beginner-friendly features. You can use this step-by-step guide to help you:

  1. Go to the official eToro website (bookmark the page to avoid phishing scams) and create an account

  2. Verify your details by providing ID and any other KYC requirements

  3. Add your preferred payment method such as credit/debit card and deposit some money into the account

  4. Use the search bar to find the XRP markets and open a position

  5. When the price reaches a point you are happy with, go to your portfolio to view your open positions

  6. Press the small red cross and confirm that you want to ‘close the trade’

  7. The fiat currency you purchased with, such as USD or GBP should appear in your account balance shortly after along with any profits you may have made.

  8. You are then free to withdraw this money back into your bank account if you wish, or open another trade following the same steps outlined above.

Crypto Investment Strategy

Having a strategy in mind before buying a coin can help you to take timely profits and be better prepared in the event that something goes wrong. It is worth deciding whether you are buying for the long or short term.

  • Short-term: if you spot a short term investment opportunity, you buy and sell the coins in a short period of time for some quick potential profits.

  • Long-term: if you believe in the future potential of XRP, then you can purchase the asset and hold it for a long period of time. If this is your strategy, then short-term price fluctuations may not alter your long-term investment thesis.

How To Store XRP?

If you plan on holding XRP for the long term, then it’s worth storing the coins in a private wallet to which only you have access. This can help you to avoid losing your funds in case the crypto platform you bought them from gets hacked. Wallets typical come in two types:

Hot wallets

These are applications that you can download for free on your smartphone or PC. These will allow you to manage and store a wide variety of cryptocurrencies including XRP. Popular wallets include Trust Wallet and Coinbase Wallet.

Cold wallets

These wallets come in many forms, including something as simple as a piece of paper that contains the private keys or seed phrases to a wallet containing digital assets. Alternatively, you can use a hardware wallet such as Ledger or Trezor

What Are the Different Ways To Pay For XRP?

Cryptocurrencies are more popular than ever and platforms have made it easy for newcomers to make their first purchases. In this section, we have outlined the most popular payment methods for XRP as well as their pros and cons.

  • Credit / Debit card

  • Bank transfer

  • PayPal

Credit / Debit Cards


  • The familiar process if you have made online purchases before

  • Easy deposits and withdrawals after initial set up

  • Widely accepted


  • You need to share your card details online

  • Some platforms will charge you fees for deposits and withdrawals

Bank Transfer


  • Once set up, subsequent deposits and withdrawals are fast

  • Widely accepted


  • You need to share your card details online

  • May incur fees for using this option



  • Easy to set up if you have an existing account

  • Fast deposits and withdrawals


  • Not as widely accepted as other payment methods

  • Some platforms may charge extra fees for this option

What To Consider When Buying XRP?

Here’s a list of things you should bear in mind before you make your first purchase.


Cryptocurrencies are volatile assets and XRP is no exception. Its price has seen huge swings in either direction numerous times over the past few years and this is likely to continue in the future. It’s important to know what to expect before investing.


Cryptocurrency platforms charge different fees for their services. Do some research to get the most value for your money.

Regulation and Taxes

Different countries have varying stances when it comes to cryptocurrencies. Check the laws in your jurisdiction to ensure you stay on the right side of the law. Also, remember to check tax laws as you may be required to pay them based on your cryptocurrency earnings.


Not all platforms will offer XRP markets. Do some research before creating an account to avoid wasting your own time.

Long vs Short Term holding

Have a strategy in mind before investing. This can help you make more informed trading decisions and be better prepared in case the market starts moving against you.

Is It Safe To Buy XRP Online?

One of the best ways to buy XRP safely is by using a regulated platform such as eToro. These platforms have industry-grade security in place that can help to protect your funds from online attackers.

To further secure your account, we highly recommend activating 2-factor authentication as soon as you sign up to add an extra layer of protection.

Once this is turned on, you will need to enter a code along with your password when signing in. This code is either sent to you via text, or it appears in an authenticator app that you can download for free on your phone.

This means that even if an online attacker was to gain access to your password, they would still be unable to log in since they do not have access to the other code.

To make your account even more secure, consider storing your assets on a hardware wallet and not reusing the same password from other websites.

How To Sell XRP?

If you’re wondering how to sell your XRP holdings, then you’ll be pleased to know that the process is just as easy as buying them in the first place.

The steps are generally the same for most platforms and here’s how it’s done on eToro for example:

  1. Go to the eToro homepage and log in

  2. Press the ‘portfolio’ button and here you will see all your open positions, including the one in XRP

  3. On the right-hand side, you will see a small cross. To sell your XRP holdings, simply press the cross and ‘close trade’

  4. The funds you used to open the position will appear in your account balance shortly after along with any profits you may have made during this time.

  5. You can then withdraw the GBP or USD back into your bank account or use them to open another trade.

Is It Worth Buying XRP Right Now?

XRP has a huge community of supporters from around the world who believe in the technology and future potential of the project.

Its price rallied significantly in the year 2021 but still remains below its all-time from 2018.

This is perhaps due to some concerns by regulatory authorities in the US who have put XRP under investigation.

It remains to be seen which way the investigation goes, but it is worth keeping up with this news to make more informed investment decisions.

Final Thoughts

The best way to buy XRP is from a brokerage platform such as eToro as it offers beginner-friendly features and easy sign-up for newcomers.

After registering, activate 2-factor authentication through the settings page and add your preferred payment method such as credit/debit card or bank transfer.

Avoid using the same password for different websites and consider storing your assets in a private wallet if that is an option offered by the platform.

As always, only invest with money you can afford to lose.


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Amala Pillai

Amala Pillai

Amala is custom content and news editor based in London. She is a former financial journalist based in Singapore with 7 years of experience covering a range of business and financial topics. Now she focuses on crypto and macro-economics. She has also covered feature profiles, tech, business politics and ESG— she was the Environment Editor for the Solutions Newspaper, 2016 and worked in an editorial capacity at both News corp (Dow Jones) and JBN. She also has experience as a content creator and brand editor for various financial institutions and banks.