How do I "cash out" my XRP in Xumm (2024)

FAQs

How can I cash out my XRP? ›

Getting XRP back by deleting your extra accounts

If you have any accounts on the XRP Ledger that you're not using, you may have up to 20 XRP locked up for the reserve requirements for each of those accounts. (It's possible for an account to have less than 20 XRP if you've destroyed XRP to pay transaction costs.)

Each wallet has its own unique receiving address. This is a sequence of numbers and letters, and a ripple address always begins with an 'r'. A receiving address is similar to a bank account number. You can find it in your wallet under the tab or button 'Receive'.

If you have signed up for the On/Off-Ramp service through Xumm Pro, then yes, you can link you XRPL account managed by Xumm to your bank account. For everyone else, Xumm does not have the option to do this. If your bank is interested in adding this feature, we would be happy to discuss it with them.

The owner of an account can send an AccountDelete transaction to deletes the account and related entries from the ledger, sending most of the account's remaining XRP balance to another account.

Navigate to the Delete Account section and click Proceed. Read the disclaimer carefully then paste the destination address and click Next. The destination address will receive your 10 XRP reserve minus a 2 XRP fee for deleting your XRP account. This fee is charged by the XRP network, not by Ledger.

10 XRP is the minimum balance required by the Ripple ledger to keep your account active. The only way to withdraw these is to get your account deleted, which will burn 5 XRP and let you transfer the rest to any address you choose. For detailed step-by-step instructions on how to do that, check our guide here.

Accounts in the XRP Ledger are identified by an address in the XRP Ledger's base58 format. The address is derived from the account's master public key, which is in turn derived from a secret key. An address is represented as a string in JSON and has the following characteristics: Between 25 and 35 characters in length.

Ripple Destination Tag is a unique numerical code generated together with the XRP deposit address. This is an extra piece of information that helps identify an account to which a given Ripple transaction will be assigned and credited.

How do I access my XRP wallet? ›

Ripple (XRP) is a popular choice among banks worldwide. The network's fast transaction speeds, low gas fees, and energy-efficient consensus make it an ideal cryptocurrency for traditional financial institutions.

To withdraw money from Trust Wallet, users need to swap their tokens for Bitcoin or Ethereum, send them to a cryptocurrency exchange like Binance, sell them for fiat currency, and then withdraw the fiat currency to their bank account.

You can sell XRP in a moment via CEX.IO mobile application. It's important to note that the market prices are constantly updating, so due to the service Instant Sell you can buy coins for market price avoiding fluctuations: we freeze the current price for you for 120 seconds.