Can I sell my XRP for cash?

Quick Answer

Yes, it is possible to sell XRP for cash through a cryptocurrency exchange or peer-to-peer platform. The process involves setting up an account on the platform, transferring your XRP to your account wallet, placing a sell order at the current market price or negotiating a price with a buyer, and then withdrawing the cash proceeds to your bank account. However, selling XRP can result in tax implications in many jurisdictions.

Exploring Options for Selling XRP for Cash

If you own XRP, the native cryptocurrency of the XRP Ledger created by Ripple, and want to convert it into traditional fiat currency like US dollars, here are some options to consider:

Cryptocurrency Exchanges

The most straightforward way to sell XRP is through a cryptocurrency exchange that supports fiat trading pairs. Major exchanges like Coinbase, Kraken, Bitstamp, and Binance allow you to trade your XRP directly into USD, EUR, and other government-issued currencies.

To use an exchange, you’ll need to:

  1. Sign up and complete the identity verification process
  2. Deposit XRP into your exchange wallet
  3. Navigate to the XRP trading pair (e.g. XRP/USD) and place a sell order at the current market price or use a limit order
  4. Wait for your sell order to fill
  5. Withdraw your cash proceeds to your linked bank account

The main advantages of using an exchange are speed, convenience, and competitive transaction fees. The downsides are the lengthy account setup procedures for some platforms and periodic trading restrictions during times of high volatility.

Peer-to-Peer Platforms

Peer-to-peer (P2P) cryptocurrency platforms like LocalCryptos and Paxful also enable selling XRP for cash. These sites connect buyers and sellers directly.

To sell your XRP on a P2P platform:

  1. Create an account and verify your identity
  2. Browse listings from buyers, filter by payment method, price, limits, and buyer ratings/feedback
  3. Select a suitable listing and open trade negotiations with the buyer
  4. Agree on a price and confirm transaction terms
  5. Send your XRP to the platform’s escrow wallet
  6. Receive payment from the buyer according to agreed method (PayPal, gift card, bank transfer, etc)
  7. Confirm you’ve received payment to release your XRP from escrow

P2P platforms often have higher prices compared to exchanges and offer more payment flexibility. However, there is higher counterparty risk when dealing with individual buyers.


There are some crypto ATMs and teller services that support buying and selling XRP for cash. These are still limited in availability, but allow quick in-person transactions if there is a location near you. You’ll need to physically deposit your XRP and receive cash on the spot.

Fees, prices, and KYC requirements can vary across different providers. Liquidity can also be limited based on demand and cash availability at specific ATMs.

Decentralized Exchanges

Decentralized exchanges (DEXs) like StellarX and Stellarport enable trading XRP for other cryptocurrencies in a peer-to-peer manner without centralized control. To cash out from a DEX, you’ll first need to trade your XRP into a coin like USDC, USDT, or BTC, then transfer that to a regular fiat exchange and cash out.

DEX trading can be complex and fees may be high when transacting across multiple platforms. But DEXs do offer advantages of greater user control over funds and access to a wider variety of trading pairs.

Factors to Consider When Selling XRP for Cash

Here are some key considerations when liquidating your XRP holdings into fiat currency:

Cryptocurrency Regulation

Regulations applicable to cryptocurrency transactions vary widely across different countries and jurisdictions. In some regions, selling XRP may fall under capital gains tax obligations or require compliance under anti-money laundering (AML) and know-your-customer (KYC) regulations. Do your research to ensure you are compliant with applicable laws.

Market Prices and Liquidity

XRP’s market price often experiences high volatility like other cryptocurrencies. Only sell your XRP when you feel comfortable with the current price and have set performance targets. Also, verify sufficient liquidity on your chosen platform to completely fill your sell order. Low liquidity may result in significant price slippage.

Withdrawal and Deposit Fees

There are usually fees charged by exchanges and platforms for withdrawing fiat currencies to your bank. Factor these costs in when selecting the best place to cash out your crypto. Also check if your bank charges additional fees for receiving wire transfers.

Transaction Speed

Withdrawal times can take up to 5 business days for some fiat transactions. Plan your XRP sale timing accordingly based on when you need the cash to be available in your bank account. Wire transfers and P2P payments tend to be quicker than ACH deposits.


In most countries, selling XRP for profit is a taxable event. Consult a tax professional to determine the right method for calculating taxes owed based on your specific circumstances. Maintain detailed trading records for your cost basis, sale price, and profit/loss on each transaction.

Step-by-Step Guide: How to Sell XRP for Cash

Follow these steps to convert your XRP into fiat currency:

Step 1: Select a Platform

Choose a reputable cryptocurrency exchange, P2P marketplace, ATM provider, or DEX to process your XRP sale. Assess factors like fees, payment methods, liquidity, speed, and required identity verification.

Popular cash-out platforms:

  • Exchanges: Coinbase, Kraken, Binance
  • P2P: LocalCryptos, Paxful
  • ATMs: CoinFlip, CoinCloud
  • DEXs: StellarX, Stellarport

Step 2: Create an Account and Complete KYC

Sign up on your chosen platform and complete the identity verification steps if required. This usually involves submitting documents like a passport, proof of address, and photo. Corporate accounts may require additional company documents.

Step 3: Deposit XRP

Transfer your XRP to the platform’s wallet. On exchanges, fund your trading account’s XRP wallet. For P2P and ATMs, transfer XRP to your personal wallet on the platform. Double-check the wallet address before sending.

Step 4: Place a Sell Order or List Your XRP

On exchanges, navigate to the XRP trading pair (e.g. XRP/USD) and place a market or limit sell order. Or on P2P sites, create a sell listing advertising your XRP for sale. Specify your desired sale price and payment methods you can accept.

Step 5: Complete the Transaction

If selling on an exchange, wait for your sell order to be matched and filled at your price. On P2P platforms, negotiate sale terms with interested buyers until successfully transacting with one buyer. At XRP ATMs, insert your paper wallet’s QR code and complete the cash-out process.

Step 6: Withdraw Your Cash

Withdraw the fiat currency proceeds from your crypto sale to your linked bank account. On P2P platforms, release your XRP from escrow once you confirm the agreed payment. ATMs dispense cash immediately.

Step 7: Track for Tax Reporting

Note key transaction details like sale price, fees, and capital gain/loss for tax reporting purposes. Maintain records of all crypto-to-fiat sales. Consider using portfolio tracking tools to help organize your tax accounting.

Using XRP as Payment

In addition to selling for cash, you can also use XRP directly as payment for goods and services from merchants that accept this cryptocurrency. Products, VPNs, web hosting, and other providers allow customers to pay in XRP as checkout or subscription options. This allows avoiding crypto-to-fiat conversion altogether.

However, XRP payment adoption is still nascent. Directly spending XRP applies to a limited range of use cases currently compared to cashing out. But usage is rising in certain industries like virtual products and tourism. More merchants may support XRP transactions in the future as cryptocurrency matures.

Pros and Cons of Selling XRP for Cash

Here are some key advantages and disadvantages when liquidating XRP holdings into fiat currency:


  • Take profit – Cash out gains from XRP price appreciation
  • Asset diversification – Rotate crypto profits into your fiat savings
  • Stability – Fiat currency has lower volatility than crypto
  • Spending power – Cash out XRP that you need for expenses
  • Tax optimization – Realize losses to offset capital gains


  • Tax implications – Incurs capital gains taxes in many regions
  • Opportunity cost – Missing out if XRP price increases later
  • Fees – Exchanges and platforms charge transaction fees
  • Price fluctuations – XRP value can change during sale process
  • Counterparty risk – Dealing with anonymous buyers on P2P platforms

Frequently Asked Questions

Is selling XRP for cash legal?

Selling XRP for cash is legal in most countries. However, users must comply with applicable regulations for taxes, money transmission licensing, and source of funds rules. Consult your local laws before engaging in crypto-to-fiat transactions.

What are the fees to sell XRP for cash?

Fees vary across platforms. Exchanges like Coinbase and Kraken charge 0.50% or more per trade. P2P platforms have smaller trading fees but may apply larger withdrawal fees. ATMs can have fees of 5% or more. Check each provider’s pricing list before selecting.

Can I sell XRP for cash without verification?

A few platforms allow trading crypto with minimal identity verification. However, most regulated exchanges and P2P sites require submitting KYC documents before cashing out due to anti-money laundering regulations. Anonymous selling options are limited.

Is selling XRP taxable?

In most jurisdictions, selling XRP at a profit triggers capital gains taxation. In the US, it falls under short-term or long-term capital gains depending on whether you held XRP for under or over a year before selling. Consult a tax advisor about your specific tax obligations.

What is the fastest way to sell XRP for cash?

Exchanges and P2P platforms offer the fastest options to sell XRP and cash out. ATMs can be quick if there is a location near you. Bank withdrawals take longer depending on transfer method – wire transfers are generally faster than ACH deposits.


Selling XRP for cash allows liquidating your holdings into fiat currency to take profits, diversify your crypto portfolio, or use for spending purposes. Top options include cryptocurrency exchanges and P2P marketplaces. Consider key factors like fees, speed, payments supported, and required identity verification when choosing a suitable platform. Execute a strategic selling approach based on XRP prices and your financial goals. Understand applicable taxes and regulations in your jurisdiction before cashing out your coins to remain compliant. With the right provider, selling XRP can offer an efficient way to secure real-world cash value from your cryptocurrency investments.

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