How to Buy XRP in Australia: A Step-by-Step Guide

What is XRP (and what is Ripple)?🔗

XRP is a cryptocurrency on the XRP Ledger, built to move money across borders quickly (settling in a few seconds) and cheaply (fees of a fraction of a cent), using a validator consensus rather than mining. Ripple is the US company that created XRP and uses it in some payment products, but the crucial distinction is that XRP the token is separate from Ripple the company: buying XRP is not buying shares in Ripple. XRP has a fixed maximum supply of 100 billion, much of it pre-mined, with Ripple releasing capped amounts from escrow. Whether those properties translate into long-term value is a separate question this guide will not answer for you.

The SEC v Ripple case, briefly🔗

In 2020 the US SEC sued Ripple, alleging XRP was an unregistered security, and in July 2023 a US court found XRP itself is not necessarily a security when sold on public exchanges, which lifted sentiment and led to relistings. The litigation concluded by 2025 with a civil penalty on Ripple and both sides dropping their appeals. For Australians this matters little directly: it was a US securities-law matter, Australian crypto is regulated by ASIC and AUSTRAC, and nothing in the US findings is Australian legal or financial advice.

How to buy XRP in Australia, step by step🔗

1. Choose an AUSTRAC-registered exchange that lists XRP (CoinSpot, Swyftx, Kraken, Coinbase). You can verify registration on the AUSTRAC register.
2. Create an account and complete ID verification (KYC) with a licence or passport and a selfie. Every legitimate Australian exchange requires this; if one does not, that is a red flag.
3. Deposit AUD via PayID or bank transfer (usually free), rather than card (which typically adds 1.5 to 3%).
4. Buy XRP: instant buy is simple but costs ~0.6 to 1%; a market or limit order on the trading platform costs ~0.1%. On $500, that is roughly $5 to $10 versus about $1 in fees.
5. Decide where to store it: leave it on the exchange (convenient, but not your keys) or withdraw to a personal wallet (more secure, your responsibility). See below.

Australian exchanges that list XRP🔗

For a deeper look at one of the most popular local options, see our CoinSpot review, and our how to choose an exchange guide.

Storing XRP safely (and the destination tag)🔗

You can leave XRP on the exchange (fine for small amounts, but the exchange holds the keys and can be hacked or fail) or self-custody it in a wallet (a Ledger or Trezor hardware wallet for larger amounts, or the free Xaman app for everyday use). There is one trap unique to XRP that catches people out:

The Australian tax angle🔗

The ATO treats crypto as property. Buying XRP with AUD is not a CGT event, but selling XRP for AUD is, and so is swapping it for another cryptocurrency (treated as a disposal at market value) or spending it, with the 50% CGT discount possible if you have held for over 12 months as an individual. Receiving XRP as income (from earn products or airdrops) is taxed as ordinary income at its AUD value on receipt. Keep records of every transaction, because the ATO cross-references exchange data. Tools like Koinly help. Our crypto tax guide has the full breakdown.

The honest risks🔗

• Extreme volatility: XRP has lost more than 90% of its value in past bear markets, and 50% drops in weeks are within its history.
• Single-asset concentration: buying only XRP is a concentrated speculative bet on one coin.
• Regulatory and company risk: crypto rules are evolving, and XRP sentiment is tied partly to Ripple's fortunes despite being technically separate.
• Exchange and scam risk: even AUSTRAC-registered exchanges can fail; use 2FA, consider self-custody, and never share your seed phrase or trust guaranteed-return pitches.

Only invest what you can genuinely afford to lose entirely, and see ASIC Moneysmart for guidance on crypto risk.

Frequently asked questions🔗

Sources🔗

1. AUSTRAC, digital currency exchange register
2. ATO, crypto asset investments
3. ASIC Moneysmart, crypto assets

General information only, not financial, investment or legal advice, and not a recommendation to buy XRP or use any exchange. Crypto assets are high-risk and highly speculative, and you could lose your entire investment. Consider your own circumstances and a licensed adviser and registered tax agent before acting.