XRPIs XRP a security?
#5 by market cap · Last updated Oct 19, 2026 (evidence re-checked)At a glance
Likely digital commodity- ConfidenceLowMedium-HighHigh
- US exchange accessCoinbase (US incl. NY)
- Regulator (if enacted)CFTC
- Evidence6 sources · 3 official
Is XRP a security or a commodity?
Likely a digital commodity, not a security. Named as a digital commodity in the SEC's March 2026 interpretation (with CFTC guidance).
Nothing changes legally today. If the CLARITY Act becomes law, this token would most likely trade on CFTC-registered exchanges and brokers. It's already widely available on major US platforms. Keep records of your purchases for tax time.
What should I do if my token is "commodity"? →
Why this status
- R2: named as a digital commodity in the SEC's March 2026 interpretation (with CFTC guidance).
- Corroborating signals: CFTC-regulated futures exist, US-listed spot ETF trading.
- Adverse history: a prior SEC securities allegation or court finding about certain sales (see evidence). Confidence capped at Medium-High.
Decentralisation ("mature blockchain" test): Not independently assessed. Ripple Labs is a company closely associated with XRP (party to SEC v. Ripple).
Evidence (6 sources)
3 official
- ETFThird-partyOct 19, 2026 · CryptoETF.today
US-listed XRP exchange-traded products trading as of Oct 19, 2026 (per tracker): Canary XRPC, Bitwise XRP, Grayscale GXRP, Franklin XRPZ, 21Shares TOXR.
CryptoETF.today filings tracker (third-party; compiled from SEC EDGAR and the Federal Register) ↗ - Exchange listingThird-partyOct 19, 2026 · Coinbase
XRP appears on Coinbase's 'US (incl. NY) Trading Assets' list.
Coinbase Digital Asset Disclosures: 'US (incl. NY) Trading Assets' list ↗ - RegulatorOfficial sourceMar 23, 2026 · Federal Register (SEC & CFTC)
The SEC's March 2026 interpretation lists XRP as an example of a 'digital commodity' (not itself a security), based on its characteristics as of that date. Interpretations can be revised; the CLARITY Act is not law.
SEC interpretation (with CFTC guidance): Application of the Federal Securities Laws to Certain Types of Crypto Assets, Release 33-11412 ↗ - FuturesThird-partyDec 15, 2025 · CME Group
CME lists XRP futures, including Spot-Quoted XRP futures (Dec 15, 2025).
CME Group launches Spot-Quoted XRP and SOL futures (complementing existing Bitcoin and Ether futures) ↗ - CourtOfficial sourceAug 7, 2025 · SEC
Litigation ended Aug 2025. The final judgment (Aug 7, 2024) stands: $125.0M penalty and an injunction against Ripple violating Securities Act registration rules.
SEC Litigation Release 26369: joint stipulation to dismiss appeals; $125,035,150 penalty and injunction (final judgment of Aug 7, 2024) remain in effect ↗ - CourtOfficial sourceJul 13, 2023 · U.S. District Court, S.D.N.Y.
In SEC v. Ripple (S.D.N.Y., July 2023), the court held Ripple's institutional XRP sales were investment contracts, while programmatic sales on public exchanges were not.
SEC v. Ripple Labs, Opinion and Order on summary judgment (S.D.N.Y., Judge Torres) ↗
Rules by country
Likely digital commodity (ClarityCheck estimate, medium-high confidence). The CLARITY Act is not law, so today the SEC's and CFTC's existing frameworks apply.
Under MiCA, trading in the EU runs through authorised crypto-asset service providers (CASPs). We haven't yet checked token-specific MiCA white paper filings for XRP. ESMA register ↗
The UK's new FCA cryptoasset regime starts on Oct 25, 2027. Firms can apply from Sept 30, 2026 until Feb 28, 2027. There's no token-by-token classification list; the rules apply to the firms that offer the token. FCA ↗
XRP questions
Is XRP (XRP) a security?
Probably not, on current evidence. ClarityCheck rates XRP as a likely digital commodity (medium-high confidence): Named as a digital commodity in the SEC's March 2026 interpretation (with CFTC guidance). This is not legal advice, and the CLARITY Act is not law.
Can I buy XRP on US exchanges?
US access: Coinbase (US incl. NY). Availability can differ by state and by exchange. See our exchange safety checker.
What would the CLARITY Act change for XRP?
Nothing changes legally today. If the CLARITY Act becomes law, this token would most likely trade on CFTC-registered exchanges and brokers. It's already widely available on major US platforms. Keep records of your purchases for tax time.
How reliable is this XRP status?
Confidence is Medium-High. It comes from fixed rules applied to 6 cited sources (checked Oct 19, 2026), not from opinion. Statuses can change as courts, regulators and Congress act.
Change log
5 entries
- Status reviewEvidence-based review: status set to 'Likely digital commodity' (Medium-High confidence) using ClarityCheck rules. Replaces earlier illustrative demo data.
- The SEC's March 2026 interpretation lists XRP as an example of a 'digital commodity' (not itself a security), based on its characteristics as of that date. Interpretations can be revised; the CLARITY Act is not law. Source ↗
- CME lists XRP futures, including Spot-Quoted XRP futures (Dec 15, 2025). Source ↗
- Litigation ended Aug 2025. The final judgment (Aug 7, 2024) stands: $125.0M penalty and an injunction against Ripple violating Securities Act registration rules. Source ↗
- In SEC v. Ripple (S.D.N.Y., July 2023), the court held Ripple's institutional XRP sales were investment contracts, while programmatic sales on public exchanges were not. Source ↗
Snapshot Oct 19, 2026 · Prices by CoinGecko