Buy XRP XRP

Purchasing Ripple (XRP) and other cryptocurrencies is simple and straightforward online. You can buy and sell Ripple (XRP) on various platforms, including crypto brokers and exchanges.

Investing in Ripple (XRP) and other cryptocurrencies can be done in a few easy steps. Follow this guide to get started with crypto trading on platforms like Bitpanda and build your digital asset portfolio.

1. Choose the right platform to invest

• Start by selecting a suitable trading platform that supports Ripple (XRP)

• Consider features such as security, data protection, and user-friendliness

• With the Bitpanda app from the Play Store or App Store, you can invest securely and conveniently on your mobile device

2. Create an account and get started

• Register with an email address and create a strong password

• Provide necessary personal details

• Accept the terms and conditions and privacy policy

• Begin the verification process

3. Confirm your identity

• Verify your identity to start trading Ripple (XRP)

• Complete the online verification with a stable internet connection and a valid ID document

4. Deposit funds into your account

• Use the Bitpanda website or mobile app to deposit fiat money or other tradable assets into your account

• You can deposit via bank transfer, credit card, PayPal or Apple Pay

• There are also options to use EPS and SOFORT transfers, giropay, SEPA direct debits and other online payment services such as Skrill and NETELLER

5. Buy Ripple (XRP) and invest in cryptocurrencies

• Once the funds are in your account, you can buy Ripple (XRP) and other cryptocurrencies

• Simply select Ripple (XRP) for purchase, choose a payment method, and confirm the transaction

If you are interested in investing in cryptocurrencies like Ripple (XRP), Bitpanda offers a user-friendly and secure platform to get started.

Intuitive platform

Our platform features a user-friendly interface that makes buying Ripple (XRP) simple for both beginners and experienced traders. With the Bitpanda app, you can conveniently trade cryptocurrencies and other assets on your smartphone.

Forecasts predict a continuous increase in the Ripple (XRP) price due to the growing acceptance and use of cryptocurrencies. Those who invest early could benefit from long-term price appreciation.

The value of Ripple (XRP)can be affected by various factors, such as regulatory changes and global economic events. Therefore, it is essential to thoroughly research before investing. The following sections give an overview of the key events and factors impacting its price.

The past price trends of Ripple (XRP) do not indicate future performance.

Key information about Ripple (XRP):

• Ripple was founded in 2012 by Chris Larsen and Jed McCaleb

• The aim was to create a fast, secure and affordable solution for global money transfer that goes beyond the traditional banking system

• RippleX, a platform operated by Ripple, provides blockchain solutions for companies that want to offer payment-oriented services

• XRP is the cryptocurrency of the Ripple network

• Unlike other cryptocurrencies such as Bitcoin and Ethereum, XRP is not designed to be an alternative currency, but a tool to execute transfers in real-time

• XRP uses its own consensus protocol that reduces transaction finality and transaction costs

• Measured by market capitalisation, XRP is one of the largest cryptocurrencies, exceeding 30 billion USD in February 2023

• The all-time high (ATH) of XRP was approximately 3.40 USD between 2017 and 2018

Ripple (XRP) was developed by a single company, unlike Bitcoin, which is operated by a decentralised peer-to-peer network and is not controlled by a single entity. While Bitcoin and other cryptocurrencies position themselves as an independent alternative to traditional currencies, Ripple pursues the exact opposite.

Ripple wants to act as a global settlement network and works closely with banks and financial institutions. Ripple’s goal is to act as a flexible middleman currency enabling the exchange of any asset, from fiat currencies such as USD or EUR to cryptocurrencies such as Bitcoin to goods or air miles.

Ripple was founded in 2012 by Chris Larsen and Jed McCaleb and is based on the work of Ryan Fugger, the creator of the XRP Ledger, an open-source cryptographic ledger powered by a peer-to-peer network of nodes. McCaleb later left Ripple and founded Stellar, another cryptocurrency for payment purposes.

Ripple is not primarily a cryptocurrency, but a payment network for banks intended to make international payments between financial institutions cheaper. XRP is the token on the network. While not technically correct, ‘Ripple’ and ‘XRP’ are commonly used interchangeably to refer to the cryptocurrency.

Ripple has partnered with well-known banks such as Bank of America, Santander and Standard Chartered. Due to a violation of the Bank Secrecy Acts, Ripple got into a legal dispute with the US regulators and was classified as an unregistered security. The legal proceedings are continuing as of early 2023. Ripple has also been criticised for its misleading advertising.

How does XRP work?

The XRP ledger uses ‘distributed ledger technology’ instead of traditional blockchain technology to facilitate the transfer of tokens. These can represent fiat currencies, cryptocurrencies or other units of value.

Distributed ledger technology is a digital system for simultaneously recording transactions in several places. As an open protocol, it is available to anyone without requiring approval from Ripple Labs, enabling banks and other institutions to integrate the Ripple protocol into their systems. Ripple offers a more efficient and cost-effective alternative to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system for international transactions.

The Ripple company has several products: RippleNet, XRP Ledger, RippleX and the XRP cryptocurrency. RippleNet is a global network that enables financial institutions to transfer money faster and cheaper. RippleNet is revolutionising the way cross-border transactions are carried out by offering On Demand Liquidity (ODL). With ODL, you can forgo upfront payment for transactions.

The XRP Ledger is an open-source blockchain by Ripple that uses XRP as its native asset. Ripple differs from other blockchains like Ethereum because it does not use a Proof of Work or Proof of Stake consensus mechanism, but uses its own XRP Ledger consensus protocol. This protocol is more centralised and efficient, allowing fast transactions in just a few seconds.

RippleX, on the other hand, is a platform that provides blockchain solutions for payment-oriented services. Companies can leverage the expertise and products of RippleX and the XRP Ledger to achieve mainstream compatibility and user-friendly solutions.

What is unique about Ripple (XRP)?

Ripple aims to create a direct and efficient money transfer system that operates in real time. This system is intended to be more secure, transparent and cost-effective than traditional financial institutions. 

XRP is known for its fast transaction times, and it takes only a few seconds to complete transactions, much faster than other cryptocurrencies such as Bitcoin, where the block time is ten minutes. Unlike other cryptocurrencies, Ripple is strongly focused on use in the financial industry for direct money transfer. This makes it an interesting tool for banks, payment providers and other financial institutions.

With theBitpanda Savings plans, you can invest in Ripple easily and conveniently. Choose your desired investment frequency (weekly, biweekly or monthly) and the amount you want to invest. Through continuous investment, your assets can grow effortlessly.

Ripple (XRP): An alternative to traditional currency

XRP is Ripple's cryptocurrency. The company aims to compete with banks in money transfers with its payment system by allowing users to send money at low costs. A major advantage of Ripple is its fast transaction speed and the associated low transaction costs.

According to XRP documentation, the XRP Ledger settles payments in less than five seconds and can process more than 1,500 transactions per second. A small amount of XRP (about ten drops, a unit of XRP, worth 0.00001 XRP) is burned to cover transaction fees. Transaction costs are designed to increase as the network becomes more active to prevent network usage during peak hours. All XRP transactions are executed and settled on the Ledger.

Key points to know about Ripple (XRP):

• Ripple (XRP) is a cryptocurrency founded in 2012 that serves as a fast, secure and cost-effective alternative to traditional transfers and payment methods

• Ripple can process transactions in just a few seconds

• RippleX, a Ripple-operated platform, provides blockchain solutions for companies that want to offer payment-oriented services

• RippleX provides protocols such as Interledger, a payment protocol that ensures compatibility between different payment systems, and PayString, a solution that simplifies payment addresses

• Ripple and XRP have sparked controversy in the past, including lawsuits and criticism regarding the centralisation of the system

Do you want to invest in several cryptocurrencies at the same time? With the Bitpanda crypto-indices you can invest in XRP, and other cryptocurrencies, and diversify your portfolio in the long term.

The Ripple (XRP) price and rate development depends on various factors. These include political and economic changes, cryptocurrency demand, regulations and technological innovations.

It is difficult to predict how the price of the XRP token will evolve but it is important to follow developments in the market and keep an eye on the risks before investing. Past performance is also never an indicator of future price trends.

Ripple (XRP) price milestones:

Major price milestones include:

• 2012: Ripple (XRP) launches with a price of 0.01 USD 

• 2017: XRP reaches its all-time high of around 3.40 USD 

• 2018: XRP crashes and loses over 90% of its value

• 2020: Prices suffer due to a legal dispute and the poor situation of the entire financial market, falling to a low of 0.18 USD

• 2022: the crash of the crypto exchange FTX negatively impacts the price trend

The development of the Ripple (XRP) price

Ripple's price history tells experts that XRP has not shown the same level of volatility as Bitcoin and other cryptocurrencies, however, there have been moments when the price history has developed in interesting ways.

The Ripple (XRP) token launch

In 2012, Ripple initially launched XRP with a price of 0.01 USD. Despite a stable performance throughout the year, it lost around 70% of its value. In late 2013, interest in XRP increased, reflected on crypto exchanges when the price increased by 850% to almost 0.06 USD in two weeks. However, the sudden increase was followed by an equally abrupt drop to 0.014 USD.

Increasing market capitalisation of Ripple

After XRP dropped below one cent, its price rebounded to nearly 0.03 USD by the end of 2014 but later fell below 0.01 USD. Over the next few years, there were several ups and downs, mostly between half a cent and one cent. 

2017 was an exciting year for Ripple (XRP), in April, the market capitalisation exceeded the one billion dollar mark for the first time, and in May the price rose to 0.38 USD. After a slump and further ups and downs, the price soared at the end of 2017 and the beginning of 2018. Within a month, XRP recorded growth of almost 1.400% and reached its all-time high of 3.40 USD.

The crash of the crypto industry

The crash of the FTX exchange and negative crypto headlines like the 2022 ban in China had impacted Ripple (XRP). FTX’s bankruptcy and the rapid losses of over 90% in the price of FTX tokens triggered a wave of loss of confidence throughout the crypto market. The situation worsened further when Binance announced that it would sell all of its FTX tokens.

Although the price of XRP had risen sharply in the weeks before the crash, it fell by over 25% in the wake of it, joining many other cryptocurrencies such as Bitcoin and Ethereum, which also lost considerable value.

The current Ripple (XRP) price forecast

The Ripple (XRP) price has not recovered from the months after the FTX crash and up to the present day. As of February 2023, it is currently around 0.36 USD, a long way from its all-time high of 3.40 USD. The live Ripple price fluctuates continuously as it depends on supply and demand. XRP, like all cryptocurrencies, is known for its volatility, and the live price can change significantly in a short period.

In addition to traditional market factors like supply and demand, the price of Ripple and XRP is influenced by other factors such as public reporting on Ripple and its projects, trading activities on crypto exchanges and broader developments in society and the global economy.

Crypto boom impacts Ripple (XRP)

The crypto boom has also had a positive impact on Ripple and XRP. The crypto market has seen strong growth overall in recent years, resulting in increasing acceptance of cryptocurrencies and blockchain technology. This has subsequently brought Ripple and XRP into focus and led to an increase in demand and rising prices.

The price of XRP, like many other cryptocurrencies, has followed the typical boom and bust cycle. This means that growing enthusiasm and interest leads to a sudden price increase, followed by scepticism and loss of confidence leading to sudden crashes. 

When interest in Bitcoin rises and it gains acceptance, this often causes a ripple effect on other cryptocurrencies like Ripple, resulting in price increases for them as well.

Limited tokens and cooperation with financial institutions

Ripple’s founders pre-mined 100 billion XRP tokens (created at the time of the Ledger's launch) in 2012. This is all existing XRP and no more XRP can be created.

Unlike Bitcoin and other cryptocurrencies, where new coins or tokens come into circulation as block rewards, XRP enters circulation whenever Ripple decides to sell tokens from its mined supply on the secondary market. The price of XRP is stabilised by limited supply and prevents it from being weakened by inflation. 

With each transaction on the XRP ledger, the sender must pay a small amount of XRP, which is then burned and reduces the total supply. Although this increases the scarcity of the asset, it is unlikely to majorly impact on the price as it would take 70,000 years to use all of the XRP. However, this fact gives the token supply a slight deflationary effect.

XRP was designed as a medium of exchange and not a store of value. Therefore, its price is also influenced by its increasing adoption by institutions, especially for global payments. However, many institutions hesitate to use XRP while its volatility remains high.

The XRP community and social media can also influence the Ripple price by marketing the cryptocurrency.

Legal proceedings and criticism

In 2020, the SEC (United States Securities and Exchange Commission) lawsuit against Ripple threw the crypto industry into a frenzy. The SEC accused Ripple of having to declare XRP as a security as 50% of the XRP tokens were owned by Ripple. 

However, Ripple defended itself against the allegations, arguing that the XRP network operates decentrally and that holding XRP does not guarantee any right to a share of Ripple's revenue or profits.

After nearly two years of litigation with the SEC, negotiations continue. Ripple will have to wait patiently until it can fully focus on its business operations again. If Ripple wins the litigation, the tide could turn for the company after many investors turned away and some exchanges stopped trading in XRP.

A major upswing in the Ripple price is only likely if there is a final ruling in the litigation by the end of 2023.