Ripple, also known as XRP when referring to the cryptocurrency token, is a crypto-asset intended to be used as a real-time cross border remittance alternative to SWIFT and other money transfers. It is created and run by Ripple Labs, a US-based technology company.
Ripple is usually found in the top three crypto-assets by market cap and is an appealing investment for traders because of its aim of disrupting cross border payments. Traders on PrimeXBT can take advantage of advanced trading tools and strategies for XRP.
PrimeXBT is a cutting-edge online trading platform offering traders all the tools necessary to buy, sell and trade Ripple in the cryptocurrency market. PrimeXBT features a third-party service called CEX.io that allows the exchange of other crypto-assets, fiat currencies, and more for Bitcoin.
In addition, users can purchase Bitcoin with a credit or debit card to fund their trading accounts and get started trading Ripple immediately. Alternatively, users may deposit their own Bitcoin to the PrimeXBT wallet BTC address.
Margin trading is the process where a trader buys more Ripple than they have capital on their account. It means that the trader is borrowing money from PrimeXBT in order to purchase more Ripple for their trade, in order to free up their own capital.
The margin trade is linked to leverage, where leverage is the opportunity provided by a platform to open a speculative position worth a much larger amount of money than you have at your disposal. This position leverage enables a chance for gains to be multiplied, but losses too.
For example, If a trader takes a short position of 1,000 XRP on 10x leverage, and the price of Ripple falls 3% the trader will earn a profit of 300 XRP. A similar spot trade without leverage would result in only 30 XRP earned.
Disclaimer: Margin trading also comes with inherent risks if the position moves against the trade. You should never utilize 100% leverage and never invest more than you can afford to lose.
Trading Ripple can be highly profitable due to their extreme price volatility. During past bull markets, Ripple would often rise hundreds of percent in the matter of a few days or weeks. The market rate of Ripple has fluctuated wildly, reaching an all-time high of over $3.60 per XRP, then falling to as low as 23 cents.
PrimeXBT offers Ripple margin trading for both short and long positions – even both simultaneously. These can be opened in order to enable traders to profit from either rising or falling markets.
The crypto token known as Ripple, is actually called XRP, and is the native crypto coin for the Ripple blockchain protocol, developed by Ripple Labs. Due to the constant association with the Ripple protocol and parent company, the crypto-asset is often referred to as Ripple.
Ripple, unlike Bitcoin or Ethereum, is aimed at disrupting the cross-border payment market and is a direct competitor to Western Union, MoneyGram, and even SWIFT wire transfers used at banks throughout the world.
Ripple also differs from Bitcoin and Ethereum in the fact that each XRP address also must include a destination tag for a transaction to reach its intended recipient. When sent correctly, Ripple is among the fastest cryptocurrencies in the industry, and is capable of around 1,500 transactions per second.
Ripple is commonly found in the top three digital currencies ranked by market cap, and has been a leader in the market for its entire history, earning it much trust with crypto investors.
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