How to Sell Ripple (XRP)
Ready to secure your gains (or cut your losses) from your XRP investments? No longer using the XRP Ledger in your work or business?
First, make sure you understand the implications of selling your XRP. Depending on when you first bought XRP, you may be selling it at a profit (or loss), which could impact your portfolio and carry associated tax responsibilities.
Also, as XRP is a cryptocurrency, it trades on an open, global market, meaning that depending on when you sell, buyers may offer better prices. Remember, the value of your XRP fluctuates against other cryptocurrencies (like BTC or LTC) as well as fiat currencies (like EUR and GBP).
An exchange with a real-time order book (like Kraken) will give you to-the-minute updates on what buyers and sellers are thinking about the current price of XRP.
If you’re sure (and ready to sell your XRP), follow our guide below.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some XRP!
New to crypto?
For more details on how XRP derives its value, read our official “What is XRP?” guide.
Why sell XRP?
Depending on your risk tolerance and investment allocations, you may find it advantageous to sell XRP for other cryptocurrencies or fiat.
You may want to sell XRP if you’re seeking to:
- Avoid losses or capture gains in times of price volatility
- Realize gains from previous XRP purchases
- Claim gains or losses as part of your annual tax reporting
- Sell your XRP crypto for fiat currency (like USD or EUR)
How to sell XRP on Kraken?
Note: Due to SEC actions we have halted XRP trading for U.S. residents. More information on our blog.
If you’re ready to sell your XRP, follow these easy steps below:
Sign up for a Kraken account
You just need an email address, username and a strong password.
Verify your Kraken account
All you need is your name, birth date, country of residence and phone number. If you own XRP, you can deposit it today and sell your crypto.
Send XRP to your Kraken address
If you want to sell XRP for another cryptocurrency (like BTC or ETH), generate a deposit address in your Kraken account and send your XRP to that address. Depositing crypto to Kraken is as easy as transferring it to any crypto address.
If you want to sell XRP for a fiat currency (e.g. USD or EUR), you’ll need to send us identification and proof-of-residence documents. You can learn more about our different verification levels here.
Start selling XRP!
Once your account is funded, you can sell XRP and other cryptocurrencies.
If you run into any trouble selling XRP, let us know. Our support staff is online 24/7 ready to help. You can reach us on LiveChat or by email anytime.
OK, ready to go? If so, click the button below!