Why Can I Not Buy Ripple On Robinhood


Invest in Ripple

Ripple is currently the 6th almost popular cryptocurrency by market place-cap. But across the financials, the story of Ripple and XRP is a soap opera for both investors and tech connoisseurs.

It’southward important to note that Ripple is the company, and XRP is the coin, simply most people simply call information technology Ripple.

Ripple (XRP) is a unlike than many other popular cryptocurrencies because it was created past a private, for-profit company. This company wanted to enable a frictionless manner to send coin globally, and its coin Ripple is the mode information technology does it. This company is also the largest holder of Ripple today.

The trouble is, Ripple isn’t the easiest crypto currency to buy, and in 2020, the SEC filed charges against Ripple and two founders in regards to XRP. As a result of the this action, most centralized exchanges (like Coinbase) have suspended trading on XRP. See the SEC action here.

However, even with these headwinds, XRP is still extremely pop. And while it’due south not as simple to invest in, there are still platforms where you can practise it (and nosotros listing them beneath).

Here’s how to invest in XRP and what you lot demand to know.

What Is Ripple?

Ripple was originally (and still is) a payment processing platform that allows global transactions using it’south money, XRP. It’s global payment network was started in 2012, and has continued to grow as companies accept adopted it, and currency speculators have taken interest in Ripple.

Ripple uses a blockchain ledger similar to Bitcoin and other crypto-currenies, but it also has come technical differences that merits to brand it easier to process transactions, and more than importantly, faster while remaining secure.

How Ripple Is Different

Ripple is different than information technology’southward major competitors Bitcoin and Litecoin in that it was created past a private, for-profit visitor. When it was created, 100 billion XRP were released into the market, with xx billion being held past the creators and the rest being given to Ripple Labs. Ripple Labs has since placed 55 billion XRP in an escrow account to ensure users stability in the marketplace.

It’s important to notation that Ripple has been called a “Bitcoin-killer” since at least 2014, but information technology’south only in the concluding several years has gained existent traction and momentum amid crypto-currency enthusiasts.

Ripple has had explosive price increases similar to other currencies, but it’s still very “cheap” in terms of toll – roughly $0.30.

Right now, the biggest driver of XRP prices seem to be updates in the SEC trial.


XRP Price Chart 2022

How To Invest In Ripple

Commencement, realize that Ripple is bailiwick to an SEC investigation and many exchanges have de-listed the token. These directions are outdated.

Where To Invest in XRP In 2022:With the SEC investigation, many exchanges have de-listed XRP. You can however hold your XRP at places like Coinbase, but y’all can’t transact with it. Rumors are that Coinbase will allow XRP trading again shortly, but until then, Uphold, Kraken and Coinmama are a couple of your options.

Y’all can also still store your XRP on a hardware wallet similar Ledger.

If all that sounds foreign, check out this guide on How To Invest In Cryptocurrency.

With that said, here’s the steps you demand to invest in XRP:

i. Create A Uphold Account

The first affair you lot need to do is setup a Uphold account.

Uphold is a very popular choice because they have some of the almost pop currencies easily bachelor for purchase on their app or website.

Read our full Uphold review here.

One of these is XRP (Ripple) – which you can easily purchase on the app, forth with Bitcoin and others. Plus, you can easily transfer Us dollars in and out besides.

2. Buy Ripple

Once y’all take your Uphold account opened, and some USD or other crypto in your account at Uphold, you can buy XRP.

In your Uphold account, simply click on Ripple (XRP) and place a trade.

Once you place your trade, it will bear witness upwards in your Uphold account.

Having everything in your Uphold account makes tracking and following up on your cryptocurrency easy.

Major Ripple Projects

Even though Ripple has been mired in bug with the SEC, it hasn’t stopped information technology from continuing to grow and develop its network.

For instance, Ripple is the underlying network that powers the Futureverse, which is the visitor behind FLUF Globe, Root Network, and more. They have appear huge partnerships with FIFA and are a huge driver for growth in the NFT infinite.

Final Thoughts

Like any currency, there is a loftier caste of risk involved if you’re because investing in Ripple. However, given the low price point, it does accept the possibility for a high render with low barrier to entry.

If you don’t similar the idea of a digital wallet and/or all of these steps, at that place are no ETFs that track Ripple yet.

You never know, Ripple could skyrocket every bit high as Bitcoin is today, and you lot might be thanking yourself in several years.

Source: https://thecollegeinvestor.com/21079/invest-ripple/

Check Also

Will Dogecoin Go Up In Value

Will Dogecoin Go Up In Value

On Dec. 6, 2013, Billy Markus and Jackson Palmer decided to combine their dearest of …