Crypto

How to Purchase Ripple (XRP) Cryptocurrency

How to Purchase Ripple (XRP) Cryptocurrency

Ripple (XRP) is a cryptocurrency as well as a website. Ripple refers to both the corporation and the network, while XRP refers to the cryptocurrency. Ripple is an accessible technology that allows for quick and inexpensive e-commerce activities.

An Overview of Ripple (XRP) Cryptocurrency

Ripple has built a reputation for itself, and several financial firms and specialists believe the platform has a bright future ahead of it. The network is projected to improve global currency liquidity by allowing transactions to take place at unprecedented rates and for minimal fees all around the world.

On January 4, 2018, the value of one XRP achieved an all-time daily high of $3.84. After the high, however, the price began to fall, reaching an all-time daily low of $0.12 on March 13, 2020.

However, the price of the crypto increased in November 2020, with a daily high of $0.77 on November 24, 2020, and has been shakily trending upward since then. The price of XRP is now reflecting the substantial and widespread May 2021 price changes in the crypto market, which applied to the majority of exchange-traded crypto assets, leaving the modified close of the digital currency as of November 13, 2021, at $1.19.

How to Purchase Ripple (XRP) on a Crypto Exchange

Ripple, like other cryptocurrencies, is traded on multiple online exchanges and may be purchased using fiat money, bitcoin, or other cryptocurrencies. Binance, Huobi, Bithumb, and Bitstamp, among others, offered XRP trading pairs as of November 2021.

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Worthy of note is the XRP Framework contains a service operation that allows traders to exchange XRP for other e-commerce assets.

Regulatory Constraints

Although most people may acquire Ripple with little difficulty anywhere in the world, this is not the case in the United States, where Ripple is involved in a legal battle with the Securities and Exchange Commission. As a result, many exchanges, mainly in the United States, have delisted XRP. Therefore a potential buyer must be aware that many international exchanges have imposed trading constraints on American traders or have blacklisted American IP addresses entirely outside of the United States.

Delistings on the Stock Exchange

Many exchanges have chosen to stop Ripple markets until the legal action against Ripple is settled, rather than risk potential violations of US securities laws. It is essential to know the exchanges that have delisted XRP which will inform where to look when looking to buy the crypto-currency.

Disclaimer: Investing in crypto and other Initial Coin Offerings (“ICOs”) is highly risky and speculative, and this article is not a recommendation. As of the date, this piece was written, the writer does not own Ripple (XRP).

The Author

Oladotun Olayemi

Dotun is a financial enthusiast who specializes in first-in-class financial content, including crypto, blockchain, market, and business, to educate and inform readers.