Ripple XRP XRPUSD

Ripple trading normally refers to buying and selling Ripple XRP – one of the most popular cryptocurrencies – over Ripple’s global payment network.

There are various cryptocurrency exchanges on the market, which through the use of a digital wallet, allow you to buy or sell XRP coins in exchange for international currencies like US dollar, Euro and British pound, as well as for other cryptocurrencies such as Bitcoin, Litecoin and Ethereum.

However, with Plus500’s intuitive online trading platform you can trade CFDs on Ripple XRP’s price movements (denominated in US dollars), without having to actually own the digital coin. Our easy to use platform offers a variety of features and tools to trade Ripple XRP CFDs with swift transactions and reliable performance.

Here are 5 simple steps to start trading Ripple XRP with Plus500:

1. If you don’t already have a Plus500 account, open a Trading Account Here.
2. Complete your account registration and verification, and deposit funds.
3. Search for Ripple XRP under the ‘Crypto Currencies’ category on the trading platform.
   * You can add Ripple XRP to your Favourites, by clicking the Favourites star in the instrument’s info screen.
4. Consider placing limit and stop orders in order to lock in potential profits or to protect yourself from potential losses.
5. Buy or Sell: if you think the cryptocurrency will rise in value, open a ‘Buy’ trade. If you think it will fall, open a ‘Sell’ trade.

Bitcoin and Ripple XRP are among the most traded cryptocurrencies in the market. Both Cryptos rely on a decentralised peer-to-peer (P2P) database network that is used to carry out financial transactions in an open-source environment. Both cryptocurrencies are also often prone to significant price volatility.

There are, however, a number of differences between Bitcoin and Ripple:

• Price – currently, a single Bitcoin is bought and sold for a much higher price than a single Ripple XRP coin.
• Capitalisation – Bitcoin's percentage in the Crypto market is, at present, larger than that of Ripple XRP's.
• Speed – Ripple XRP transactions are normally performed in a faster manner than Bitcoin transactions. Please note that transaction speed is not a factor when trading Crypto CFDs with Plus500.

Ripple XRP’s price is primarily influenced by supply and demand in the market. Crypto speculators also play an essential role in creating fluctuations in the price of Ripple XRP. Normally, speculators buy or sell cryptocurrencies (for a short period of time) in order to profit from short-term price changes which are often driven by news reports and traders' sentiments.

You can trade Ripple XRP cryptocurrency without the need to own it. Ripple XRP CFDs are available at Plus500 7 days a week and with leverage of up to 1:2. This means that with as little as £100, you can gain the effect of £200 capital.

Other cryptocurrencies CFDs that you can trade on our platform include: Bitcoin, Litecoin, Ethereum and more. For a full list, click here.