Ripple (XRP) is a popular cryptocurrency, ranking third in market capitalization after Bitcoin and Ethereum. For those looking to start trading, choosing the right exchange can be a challenge. This guide covers how to select an exchange for purchasing Ripple and highlights some of the best platforms available.
Understanding Ripple (XRP)
Ripple (XRP) is a cryptocurrency issued in 2012 by Ripple Labs, a US-based software company. As of early 2025, it holds the third-largest market capitalization in the crypto space.
| Attribute | Details |
|---|---|
| Name | Ripple (XRP) |
| Launch Year | 2012 |
| Developer | Ryan Fugger |
| Max Supply | 100 billion XRP |
| Market Cap | Approximately ¥24 trillion |
| Price (per XRP) | Around ¥419 |
| Consensus Algorithm | Proof of Consensus (PoC) |
Key Features of Ripple
Low-Cost and High-Speed International Transfers
One of Ripple's standout features is its ability to process transactions in about 3.6 seconds with a fee of approximately $0.001. It is used within RippleNet, a global payment network for financial institutions. By eliminating intermediaries, RippleNet enables fast and affordable cross-border transfers.
Unique Consensus Mechanism
Ripple utilizes the XRP Ledger Consensus Protocol (XRP LCP), which differs from Bitcoin’s Proof-of-Work. A select group of validators approved by Ripple confirm transactions, resulting in quicker settlement compared to traditional blockchain systems.
Fully Issued Supply
All 100 billion XRP tokens have already been issued, with no further mining. Ripple Labs holds about 63 billion XRP, with 55 billion placed in escrow. This controlled release helps prevent inflation and reduces extreme price volatility.
Top 7 Exchanges for Ripple (XRP)
When selecting an exchange, consider factors like fees, security, and available services. Here’s a comparison of some leading platforms:
| Exchange | Trading Pairs | Spot Trading Fee (XRP) | Minimum Trade (XRP) | Deposit Fee | Withdrawal Fee | Transfer Fee | Staking | Lending |
|---|---|---|---|---|---|---|---|---|
| GMO Coin | 28 | Maker: -0.01%, Taker: 0.05% | 0.1 (spot), 1 (exchange) | Free | Free (large withdrawals: ¥400) | Free | Yes | Yes |
| bitbank | 42 | Maker: -0.02%, Taker: 0.12% | 0.0001 | Free | ¥550/¥770 | 0.1 XRP | No | Yes |
| BITPOINT | 29 | Free | 0.000001 (spot), 0.01 (exchange) | Free | Free (1st monthly), then ¥330 | Free | Yes | Yes |
| SBI VC Trade | 36 | Maker: -0.01%, Taker: 0.05% | 1 | Free | Free | Free | Yes | Yes |
| Coincheck | 35 | Free | ¥500 equivalent | Free–¥1,018 | ¥407 | 0.0005 BTC | Yes | Yes |
| OKJ | 40 | Maker: 0.02–0.07%, Taker: 0.06–0.14% | 0.001 | Free | ¥400–¥1,320 | Varies | Yes | Yes |
| bitFlyer | 38 | 0.01–0.15% | 0.000001 (spot), 0.1 (exchange) | Free–¥330 | ¥220–¥770 | 0.0004 BTC | No | No |
1. GMO Coin
GMO Coin, operated by a Tokyo Stock Exchange-listed company, offers a reliable trading environment. It supports 28 cryptocurrencies and provides services like staking, lending, and accumulation plans.
Pros:
- High trustworthiness due to corporate backing
- Free deposits, withdrawals, and transfers
- Quick account setup
Cons:
- Wide spreads
- Margin calls possible
- Some trading restrictions
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2. bitbank
bitbank stands out for its security, with no hacking incidents since its founding. It offers 42 trading pairs and integrates with TradingView for advanced chart analysis.
Pros:
- Strong security record
- User-friendly mobile app
- Wide range of tradable assets
Cons:
- Limited leverage options
- Low lending yields
- High withdrawal fees
3. BITPOINT
BITPOINT, part of the SBI Group, offers zero spot trading fees and two types of accumulation plans.
Pros:
- High staking yields
- No trading fees
- Flexible accumulation options
Cons:
- Limited currency support
- Wide spreads
- Sometimes slow customer support
4. SBI VC Trade
SBI VC Trade offers free deposits and withdrawals and supports staking for 14 currencies.
Pros:
- Backed by SBI Group
- No trading fees
- Narrow spreads
Cons:
- Lower liquidity at times
- Periodic maintenance
5. Coincheck
Coincheck is known for its user-friendly app and supports 35 cryptocurrencies. It also offers utility services like electricity and gas through its platform.
Pros:
- Easy-to-use app
- Wide service range
- No trading fees
Cons:
- Wide spreads
- No leverage trading
- High withdrawal fees
6. OKJ
OKJ provides access to 40 cryptocurrencies and offers flexible staking plans.
Pros:
- Large selection of currencies
- High lending yields
- Auto-staking in accumulation plans
Cons:
- No leverage trading
- JPY withdrawal fees
- Maker fees apply
7. bitFlyer
bitFlyer partners with major banks and offers a credit card that earns Bitcoin on spending.
Pros:
- Trusted banking partnerships
- Bitcoin FX trading
Cons:
- Not all currencies available on exchange
- High deposit fees
- App can be slow
Understanding Fees When Buying Ripple
When trading Ripple, you may encounter several types of fees:
1. Trading Fees on Brokerage Services
Brokerages charge fees via spreads—the difference between buy and sell prices. These are generally higher than exchange fees.
2. Trading Fees on Exchanges
Exchanges charge maker and taker fees. Maker fees apply to limit orders that add liquidity, while taker fees apply to market orders. Fees typically range from 0% to 0.15%.
3. Deposit and Withdrawal Fees
Bank transfers often have no fee from the exchange, but your bank may charge. Quick deposit methods might incur fees of several hundred yen.
4. Transfer Fees
Transfer fees vary by exchange. Some, like BITPOINT and GMO Coin, offer free XRP transfers.
5. Gas Fees
Gas fees are required for transactions on some networks, but Ripple’s own ledger has minimal fees, usually around 0.00001 XRP.
How to Buy Ripple (XRP) on an Exchange
Step 1: Choose an Exchange
Select an exchange with low fees and both brokerage and exchange services. Consider security, supported services, and user experience.
Step 2: Open an Account
Register with an email, complete KYC, and submit ID documents. Many platforms offer instant verification via mobile apps.
Step 3: Deposit JPY
Use bank transfer, convenience store deposit, or quick transfer. Bank transfers are often free but may take longer.
Step 4: Specify Quantity and Buy
Enter the amount of XRP you wish to purchase. Minimum amounts vary; for example, GMO Coin allows purchases from as low as ¥42.
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Frequently Asked Questions
Can Ripple reach ¥1 million?
It is highly unlikely due to the massive market cap increase required. However, positive developments like Ripple's IPO or broader adoption could significantly boost its price.
How will Ripple’s price be affected if it wins the lawsuit?
A favorable outcome in Ripple’s case with the SEC could reduce regulatory uncertainty, potentially increasing demand and price.
Can I buy Ripple on Rakuten Wallet?
Yes, but the minimum order is 100 XRP. For smaller purchases, other exchanges may be more suitable.
Is Ripple a good investment?
Ripple offers fast transactions and low fees, making it practical for transfers. However, like all cryptocurrencies, it carries risks due to market volatility.
What is the difference between Ripple and XRP?
Ripple is the company, and XRP is the cryptocurrency used on its network.
How do I store XRP securely?
Use a hardware wallet or a reputable software wallet. Avoid storing large amounts on exchanges long-term.