Note:
This article is not financial advice and is for educational purposes only. Buying cryptocurrencies is a high-risk type of investment.
How to Buy XRP (Ripple) on Coinbase? A step-by-step Guide
Updated: May 01, 2024
Editorial Note: While we adhere to strict
Editorial Integrity,
this post may contain references to products from our partners. Here's an explanation for
How We Make Money.
None of the data and information on this webpage constitutes investment advice according to our
Disclaimer.
Ripple (XRP) is a cryptocurrency that can provide a lower cost and faster transactions time than Bitcoin while remaining decentralized.
Its price has been increasing steadily, making it one of the most promising coins in the cryptocurrency market.
The easiest way to buy Ripple is on Coinbase. This guide will walk you through the process in simple steps.
Start trading cryptocurrencies right now with Coinbase!
Your capital is at risk.
Can I Buy XRP (Ripple) on Coinbase?
XRP trading was temporarily suspended on Coinbase.com, Coinbase Pro, and E Coinbase Exchange at 10.00 a.m. on Tuesday, January 19, 2023, following U.S. Securities and Exchange Commission's bombshell lawsuit. According to the official website Coinbase, its wallet will no longer support Ripple's native token.
The suspension will hold until further notice from the SEC or other regulatory bodies concerning this asset class.
That means that you can't trade, sell, or withdraw XRP to your linked bank account. However, you can view the balance, deposit the cryptocurrency into your account. You can also withdraw XRP to your crypto wallet outside the Coinbase account.
XRP legal team is putting up a fight against SEC. And it might not take long for cryptocurrency exchange platforms, including Coinbase, to relist the digital token.
That's because Ripple has had several small legal victories and favorable rulings from U.S. Magistrate Judge Sarah Netburn, who's overseeing their case in court.
When Coinbase Will Open XRP Trading?
Ripple blockchain payment solution is likely to get accepted by SEC soon. If indeed, XRP price would surge again because of the favorable ruling in court on Ripple's case against SEC.
If that happens, Coinbase might resume trading on all cryptocurrency trading pairs, including BTC/XRP or ETH /XRP.
Coinbase CEO Brian Amstrong tweeted on October 26, 2023, that, "The Ripple case seems to be going better than expected. Meanwhile, the SEC realizes that attacking crypto is politically unpopular (because it harms consumers).
The uprising from retail cryptocurrency investors against SEC's decision may also work in XRP’s favor. The relisting date is not yet known. But things look positive.
Are There Alternatives to Buying XRP?
Coinbase isn't the only crypto exchange platform that delisted XRP following SEC's order. Binance, Bitfinex, Kraken, Crypto.com, and Bittrex all delisted XRP from their platforms.
That means that it's a bit challenging to find a safe platform that allows you to buy XRP now. However, you can ask a crypto retailer or trader to send the digital token to your wallet. But remember, this procedure is very unsafe.
How to Buy XRP (Ripple) on Coinbase?
As Coinbase considers relisting XRP, you may want to know to buy the digital token from the exchange platform. Follow these steps to do it:
1. Market Analysis
Before you buy XRP (Ripple) on Coinbase, learn about the cryptocurrency's price history. Cryptocurrencies are volatile! Prices can change quickly and unexpectedly. So, do a price analysis before you make a move.
2. Create an Account with Coinbase
Open a new account with Coinbase by entering your details on their website. Coinbase will send a verification email to your email address. You'll then enter your country and cellphone number to receive a confirmation code.
3. Fund Your Account: Add Bank Card
Once confirmed, you'll be able to add your bank card information. This will allow you to buy any cryptocurrency on Coinbase using USD or EUR through the Coinbase system.
Ensure you use the correct details in this step to avoid delays or problems when processing your purchase.
Enter the USD (or EUR) amount of Ripple you wish to buy and review your order information on Coinbase's website before clicking "Buy."
4. Add Bitcoin to Your Account
Coinbase now supports the direct purchase of Ripple. Those looking to buy Ripple through Coinbase will no longer be required first to move their funds onto Binance. Make sure you look for the XRP BTC pairing when buying Ripple with BTC.
5. Buy XRP
Once you've added Bitcoin to your account, simply click "Buy" on the XRP (Ripple) option.
You'll then need to select the BTC equivalent of XRP that you wish to purchase.
Remember that cryptocurrencies' values are unpredictable. Therefore, you’ll need to confirm your order before it's completed.
Buying Coinbase XRP With Etherium
To buy XRP with ETH, you will need to buy ETH on Coinbase first.
Head over to the "Buy/Sell" tab and select XRP as the currency you wish to purchase.
Type in how much XRP you want to buy or click on "All" to auto-fill it for you. Then, type in your ETH wallet address or scan the QR code with your phone to send Ether from Coinbase.
Once you have ETH in your account, you can purchase the XRP.
Buying XRP With USD on Coinbase
You can also buy XRP coins using USD and Euro. You can either move your money onto Binance or can use the direct method described above.
When purchasing with USD, follow the same processes highlighted above till you get to the "Buy" section.
Select XRP/USD or XRP/EUR when it becomes available with your preferred currency pairings.
6. Withdraw Your XRP Crypto Coins
Once your order is processed, it will be shown on the "My Account" page within Coinbase.
It's also important to remember that you can withdraw purchased cryptocurrencies into a personal wallet or leave them in your account for later use. They'll remain accessible there until you sell XRP coins if needed.
What Is Ripple?
The Ripple system is a ground-breaking real-time gross settlement, currency exchange, and remittance network.
It was released in 2012 to help facilitate financial transactions worldwide faster than ever before possible while reducing fees for users at every step of their journey.
All XRP digital tokens were created at the beginning of their blockchain creation. That means that all 100 billion XRP tokens are available for transactions instantly.
The XRP token currently holds over $120 billion worth against its market cap. That makes it one of today's most valuable cryptocurrencies.
XRP serves as an exchange medium for currencies or networks. It allows users of one currency, such as dollars, the ability to convert their assets.
The process is faster and easier than when working with Bitcoin. In addition, XRP maintains security with instant payments anywhere around the world!
Ripple is unlike Bitcoin in that it values centralized banking over decentralization.
This digital asset goes beyond this concept. It has ties and agreements with top financial institutions worldwide. That gives it an edge when handling large sums or moving funds around the globe quickly.
What Problems Does XRP Fix?
As mentioned, XRP uses a public and decentralized structure. That means that the digital asset doesn't boast its blockchain. Instead, Ripple uses a shared public ledger on their network that records and makes transactions.
That concept has several real-world advantages:
Using XRP for international payments reduces costs dramatically than ever before possible. That's because Ripple removes physical and geographic barriers to entry when it comes to performing cross-border transactions.
XRP is a secure, fast, and scalable digital asset to make payments quickly. At its peak capacity, the system can process up to 1,500 TPS (Transactions Per Second).
This makes Ripple better than Bitcoin because it's able to handle larger transaction volumes.
In addition, transfers from one country to another take only seconds to complete. That makes Ripple stand out in the crypto market because it doesn't need time for approval or verification to be made.
XRP also comes with payment certainty, with the transacting parties knowing the costs involved in trading the token.
XRP Profile
The Ripple company controls the majority of XRP in existence at about 60%. This gives it control that contrasts with other cryptocurrencies, such as Bitcoin, Litecoin, Ethereum, and EOS. Here are vital XRP statistics.
| Ticket | XRP |
|---|---|
Max supply |
100,000,000,000 |
Total supply |
99,990,358,414 |
1-year price low |
$0.338 |
1-year price high |
$0.8199 |
Current Price |
$0.61 |
Market cap |
$33 111 928 050 |
Markets |
Binance, Huobi Global, KuCoin |
Should You Buy XRP?
Now that you know more about the Ripple platform, you may be wondering if XRP is a good choice for investment.
While there are no guarantees when it comes to investing in digital tokens, here are some essential qualities that investors look at:
XRP ranks as one of today's top cryptocurrencies in market capitalization. That means that there is a lot of investment interest in it. With each passing month, the digital asset has added to its market value and price per token.
Ripple continues to make agreements with global financial institutions, giving it an advantage over other cryptocurrencies in the market.
Since Ripple owns about $60 billion worth of XRP, they control more than half of their total supply. As such, you can expect prices to rise or fall based on ripple company decisions in the future.
That means that the company controls the price of the digital asset through its extensive holdings. So, for instance, it can choose to sell XRP tokens onto the market, driving prices down.
XRP faces an uphill legal battle. That coupled with the high price volatility of digital assets may turn investors off. But with consistent wins in the court, it stands to break through and become the leading digital asset for payments and exchanges.
So, XRP may grow, but the risks for this coin are still high.
Top 10 Best Cryptocurrencies to Invest in
Our experts have compiled a list of the 10 best digital currencies you should invest in. When compiling this list, we looked at cryptocurrencies’ performance, technology, popularity among investors, and other aspects.
| Cryptocurrency | Industry | Current price | 1y return | 1m Return | Total score | |
|---|---|---|---|---|---|---|
Cryptocurrency exchange |
228.50$ |
-24.87% |
0.26% |
9.5 |
Invest | |
Blockchain platform |
0.38$ |
18.56% |
22.36% |
9.2 |
Invest | |
Payments |
0.61$ |
42.91% |
0.66% |
9 |
Invest | |
Payments |
0.08$ |
-19.63% |
19.52% |
8 |
Invest | |
Blockchain platform |
5.47$ |
-2.69% |
14.59% |
8 |
Invest | |
Payments |
71.57$ |
-8.52% |
2.26% |
7.6 |
Invest | |
Payments |
0.00$ |
NaN% |
NaN% |
7.5 |
Invest | |
Decentralized exchange |
0.00$ |
NaN% |
NaN% |
7.4 |
Invest | |
Blockchain platform/Media |
0.00$ |
NaN% |
NaN% |
7 |
Invest | |
Internet of Things |
0.00$ |
NaN% |
NaN% |
6.9 |
Invest |
Summary
Coinbase delisted XRP in January 2023. But you can view your balance and withdraw the tokens to your wallet (not linked bank account) outside of Coinbase.
As the XRP legal team fights for the digital asset to be legalized, it's essential to know the step of buying XRP on Coinbase, as highlighted in this article.
When XRP is relisted, use BTC, ETH, or debit card to buy XRP on Coinbase. Of course, you can also use any fiat currency for this purpose. Just make sure you first open an account with Coinbase using your details.
FAQs
How do I get XRP from Coinbase?
Coinbase no longer supports XRP. Users need to look for other ways to buy this coin.
How do I get XRP from Coinbase?
You cannot sell XRP on Coinbase or convert it to fiat to withdraw to a bank account. However, you can send XRP to a wallet outside of the exchange and then convert it.
Where can i buy XRP right now?
To buy a native Ripple token, you can use Bitstamp, Binance, Bitfinex, or any other exchange that continues to support XRP.
Can you still buy XRP on Coinbase?
The official Coinbase website states that the exchange will no longer support the native Ripple token.
Can You Withdraw XRP to Your Linked Bank Account?
No, since the Ripple SEC Lawsuit, Coinbase no longer allows you to withdraw your XRP tokens. But if the court rules in favor of Ripple, you'll be able to withdraw XRP to your linked bank account.
What Are the Minimum and Maximum XRP Withdrawal Amounts?
The minimum withdrawal amount for XRP on Coinbase will be 22 XRP per transaction, while the maximum amount on the blockchain is 1,000,000 XRP.
Can You Buy Ripple With Ethereum From Coinbase?
Yes, and it's always one of the best options.
What Should Know You Before Buying XRP on Coinbase
Crypto is different from PayPal and bank transfers, which you can reverse. Therefore, always double-check your details before confirming any transactions.
Prices can change quickly and unexpectedly. Therefore, use caution when making purchases to avoid losses resulting from price changes or other factors beyond your control.
Glossary for novice traders
-
1
Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
-
2
Cryptocurrency
Cryptocurrency is a type of digital or virtual currency that relies on cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on decentralized networks, typically based on blockchain technology.
-
3
Bitcoin
Bitcoin is a decentralized digital cryptocurrency that was created in 2009 by an anonymous individual or group using the pseudonym Satoshi Nakamoto. It operates on a technology called blockchain, which is a distributed ledger that records all transactions across a network of computers.
-
4
Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
-
5
Ethereum
Ethereum is a decentralized blockchain platform and cryptocurrency that was proposed by Vitalik Buterin in late 2013 and development began in early 2014. It was designed as a versatile platform for creating decentralized applications (DApps) and smart contracts.
Team that worked on the article
Chinmay Soni
Contributor
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
Dr. BJ Johnson
Developmental English Editor
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito
Cryptocurrency and stock expert
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).