Ripple (XRP) Trading Made Easy

Trade on price movement amidst the volatility

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Ripple (XRP) in a Snapshot

  • A counterparty-free digital currency, using XRP as a token for representing the transfer of value across the Ripple Network.
  • It is not a blockchain but uses its own patented technology: the Ripple protocol consensus algorithm (RPCA).
  • Used more as a payment system which facilitates the transactions of credits and debits.
  • Transactions are secure and take place within seconds.
  • Market capitalisation of more than USD10 billion.
  • 100 billion XRP coins issued

*Based on Coindesk data dated 11 September 2018

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What is Ripple?

Ripple as the cryptocurrency was launched in 2017 and traded on the market under the symbol XRP. It represents the transfer of value across the Ripple Network, using HashTree to summarise the data into a single value, which is a unique technology and process that is different from other blockchain-based technologies like Bitcoin.

XRP the coin/token isn’t mined like Bitcoin or any other cryptocurrency. Instead, its token is pre-mined and issued at inception—a 100 billion XRP coins to be exact.

Ripple as the network is also called “RippleNet” or the “Ripple Payment protocol”. It is a “realtime gross settlement system”, an open source, peer-to-peer, real-time payment system (like Bitcoin’s blockchain or Ethereum’s network) that can be used to transfer both the XRP as well as fiat currencies. It is built more for enterprise, with the main purpose to move large amounts of money quickly—within seconds—as opposed to banks which take days or weeks to complete a wire transfer. Its innovation success lies in the fact that it can and has been integrated into traditional banking systems.

Ripple as the company was launched in 2012 and is the corporation that develops and maintains the entire Ripple system.

Factors impacting Ripple CFD

Keeping abreast of Ripple’s growth, technological developments and adoption rates will definitely put you at an advantage if you are seeking to trade XRP, especially since it relies on real life practical application and is slowly seeing actual adoption by traditional financial institutions.

If you would like to trade on XRP’s price movement, such as the XRP/USD, then keeping up with news that impact the USD will also be highly useful.