If you are thinking of investing in XRP, there are also some practical considerations to bear in mind. Some of these are discussed below.
Ripple Fees & Regulations
The network fees for using XRP are very low at just $0.0002, making them much more affordable than some other blockchains. If you are buying or selling XRP on a platform, you will likely pay a trading fee. On eToro, for example, this will be 1% plus spread.
You may be charged fees for other activities, like depositing and withdrawing, which could vary depending on the payment method used. Some platforms may also charge overnight, account management, or inactivity fees.
The SEC sued Ripple after claiming that the sale of XRP constituted an unregistered securities offering. This case is yet to reach a conclusion and has led to a number of top crypto exchanges delisting XRP in the US. It is still possible for US citizens to buy XRP on
All cryptocurrencies are unregulated in the UK, but UK citizens can buy XRP easily and legally. It is safest to do so on a regulated platform, such as the ones reviewed in this guide. You will need to verify your identity first due to the KYC requirements of regulated platforms.
XRP price is volatile, like the rest of the cryptocurrency market, and has seen dramatic surges and crashes during its history. Some of these have correlated with the price movement of Bitcoin and the rest of the market.
There are other more specific factors that can affect the price of XRP, such as upgrades and new partnerships. The ongoing SEC lawsuit could also have an impact. If Ripple wins the case, the price of XRP could benefit, while a negative outcome could lead to a fall in price.
Buy and hold investors will be concerned with the fundamental value of Ripple and XRP, believing that it will rise in the future. They may use XRP price predictions to decide whether XRP could be a good long-term investment.
Traders, meanwhile, will be more concerned with the short-term price movement of XRP. They may use news, sentiment, technical analysis, and trading strategies to decide on the best entry and exit points.
Buying Ripple Safely & Securely
If you want to stay safe, you should purchase XRP on a regulated platform. This will mean you’ll need to complete KYC, but it will also mean you’ll get the best security, such as offline storage, encryption, and insurance.
Be wary of any emails you purportedly receive from platforms and check their provenance to avoid scams. You should use strong and unique passwords for all your crypto accounts and change them from time to time.
If you want to store your coins on an exchange, make sure it is a secure and regulated exchange. The safest place to store XRP, however, is in a hardware wallet. Never share your private key with anyone, and keep your seed phrase safe in case you need to recover your wallet.