You can use the search box to search for XRP or click the Cryptocurrencies filter just below the search box, then select XRP from the list. I currently have both kraken and ledger, but neither will convert or trade xrp at this time. The price of XRP (Ripple) in Canadian dollars as of June 6th is $0.5. It’s changing rapidly and most likely it is different by the time you read the article.

• It is worth differentiating between XRP and Ripple because the two entities are not the same, and often people wrongly use these terms interchangeably.
• In between that period when your investment is yet to attain the target you set, a lot of things might happen given that the crypto market is volatile.
• Uphold is a multi-asset trading platform that allows Canadians to buy, sell, and trade cryptocurrencies, US stocks, and precious metals.

However, concerns exist about XRP’s necessity in Ripple’s payment system, as transactions can be settled in fiat value regardless of XRP’s price. For banks to widely adopt XRP, improvements in the token’s design and utility within the system may be necessary to demonstrate clear advantages over existing methods. Reaching a $100 price point would mean a market capitalisation of roughly $5.2 trillion for XRP, considering the current circulating supply of about 52 billion. This would be more than four times larger than the current value of all cryptocurrencies combined. “Investing in XRP is risky and may not be suitable for most investors due to the high price volatility and the difficulty in predicting future trends in the cryptocurrency market,” Drozdz says. However, due to an appeal filed by the SEC, applications for these funds were put on hold.

How and Where to Buy XRP (Ripple) in Canada in 2024: Complete Guide

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XRP (Ripple) has many fans because it runs on the fast XRP Ledger with extremely low transaction fees. If you’re looking to make fast payments, XRP is the solution and that’s why many Canadians believe XRP is a good investment. The company behind XRP, Ripple, a beginners guide to bitcoin 2020 is US-based and aims to make XRP the number one currency used by financial institutions for cross-border transactions. While it’s theoretically possible for XRP to reach this price, it would require substantial market shifts or a major supply reduction. If the project were to reform significantly to drive value to the XRP token, there is every chance that XRP could soar to new highs.

How to trade XRP (Ripple) in Canada?

KuCoin is a Singapore-based, highly regulated crypto exchange with operations covering close to 200 countries. The exchange offers trading, brokerage, staking, hot storage, lending, and early-stage project investment to its more than ten million users, and one of its supported digital assets is XRP. Gate.io has low fees, thousands of altcoins available, and a host of features. While not everything is available to Canadians, with Gate.io you can purchase XRP cheaply. Use a debit/credit card using their partner, Coinify, or connect a US bank account.

This disparity in market expectations contributes to the current price dip for XRP. Due to how highly-placed it is, Ripple is regarded as an investment choice for investors. Despite knowing how to buy the crypto asset to hold for sometime as an investment strategy, most of them are normally at loss on how to sell after making gains as planned on it. More often than not, investors would normally want to sell their Ripple against USDT, a common stablecoin.

You can tinker with your chosen platform to figure out the process or contact the official customer support for help. While the ongoing legal battle with the SEC has caused price volatility, recent partial victories have renewed investor interest. The adoption of the project’s cross-border payment system and its long-standing position among top cryptocurrencies are seen positively. However, its future heavily depends on the final outcome of legal disputes, broader market trends, and improvements XRP’s utility within the Ripple ecosystem.

The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. Additionally, users can decide to sell XRP in the event of strong bearish activity to prevent potential losses. Cryptocurrencies like XRP are highly volatile and often go through price swings since physical assets do not back them.

Even offshore bitcoin wallet for storing and holding cryptocurrency though XRP is undergoing a legal battle, it is still legal to purchase in the US and in several other jurisdictions across the world. Plus, there are still a number of credible crypto exchanges through which you can acquire some XRP. Here are four of the best crypto exchanges that currently support XRP trades.