Buy XRP

Want to buy XRP? But what is XRP? And how is it connected to Ripple? How do I buy it? XRP is a cryptocurrency that you can use to send and receive payments across the world.

XRP and the XRP Ledger was designed to connect banks, payment providers, and other financial institutions to each other. By using XRP, these institutions may save time and money, and offer better services to their customers.

XRP is different from regular money because it is not controlled by any government or bank. Instead, it runs on a network called the XRP Ledger (XRPL). XRP is the native token of that the XRP Ledger.

While Ripple created XRP, and holds a large amount of XRP, they don't control the XRP Ledger. The XRP Ledger is decentralised, meaning it's not controlled by any single entity.

XRP consistently lists among the top 10 cryptocurrencies by market capitalisation. At the time of writing (03 Octover 2024), XRP was the 7th most-popular cryptocurrency. It can be bought at pretty much every crypto exchange.

Why XRP?

XRP is designed to be efficient, cost effective. It can handle thousands of transactions per second, and it only takes a few seconds to confirm a payment. It also has very competitively priced fees. While Bitcoin is also handy for international payments with competitively priced fees, XRP is less energy intensive.

XRP can also be exchanged for other types of fiat currency or crypto, such as dollars, euro, or Bitcoin. This aims to remove complexities when moving money across different countries and currencies.

Many people invest in XRP because they believe in its potential to change the future of finance. Purchasing XRP with Pounds Sterling on CoinJar is straightforward. The XRP tokens remain in your CoinJar account if you don't want to create a separate wallet.

Why the XRP Ledger is better than existing systems like SWIFT

• Transaction speed: XRP can be used to settle payments in 3 to 5 seconds, while SWIFT can take up to 5 business days.

-Competitively priced: XRP has a competitive transaction fee of 0.0001 XRP, while SWIFT charges banks to use their service. Banks also charge their customers fees for international wire transfers, which frequently use the SWIFT network. These bank fees can be based on a percentage of the transaction amount and can become quite expensive for large transfers.

-Transparency differences: XRP utilises a distributed ledger technology that allows for public verification of transactions, potentially offering greater transparency. SWIFT operates through a network of financial institutions, which may have less public visibility.

-Higher scalability: XRP can handle thousands of transactions per second, while SWIFT has slower settlement times.

Ripple legal dramas

Ripple has had some famous stoushes with regulators in the USA.

The drama began in late 2020 when the U.S. Securities and Exchange Commission (SEC) charged Ripple with selling unregistered securities.

After years of litigation, on July 13, 2023, a federal judge handed the company a partial victory by ruling that XRP sales on public crypto exchanges were not offers of securities under the law.

On the 8th August 2024, a federal judge ordered Ripple Labs to pay a $125 million civil penalty in the long-running case brought by the Securities and Exchange Commission (SEC). The judge denied the SEC's request for a penalty of $2 billion.

Following the ruling, the value of the XRP token rose significantly.