Ripple is a platform for a global system of payments, settlements, and exchange. It aims to replace Bitcoin as the leading cryptocurrency. It’s all about simple financial transactions. XRP – the Ripples symbol is believed to exploit bitcoin weakening such as the speed of the transaction. This, along with the entire ripple system, makes it a pretty attractive cryptocurrency, which explains the price increases we’ve seen in recent years. Ripple appeared in 2012 and is still one of the most popular electronic currencies. Ripple’s developers claim that the system executes transactions faster than Bitcoin itself, as there is no need to wait for a block confirmation. Ripple can be purchased on all cryptocurrency exchanges (Binance, Bitstamp, EXMO, WEX and others).
Unlike most cryptocurrencies out there that cater to peer-to-peer needs, Ripple was made to connect banks, payment providers and digital asset exchanges, enabling real-time settlement expeditions and lower transaction fees. There are now many headlines that illustrate how the Ripple cryptocurrency was founded. It became the first cryptocurrency after Bitcoin to surpass the $100 billion cap. It is now one of the top three cryptocurrencies on all exchanges around the world. But this is not the end. Just a day after hitting 100 billion, it has reached 140 billion in market capital expenditure, and it shows no signs of losing its momentum. This could be a good time to engage in a trade.
Trading is simple, you invest, buy Ripple and expect it to increase. Or, if you are after a more dynamic approach, you can engage in day trading. Buy lows and sell highs. The style you choose is up to you, but the first step is the same regardless of your trading style. Ripple can be predicted using technical analysis figures, making your trading more profitable. It is best to trade in the long-term mode, when the ripple correction is completed.
How Ripple System Works
The ledger is maintained by independent participants of a global “XRP Community”, of which Ripple is an active member.
Independent validator nodes come to an agreement on the order and validity of XRP transactions. This agreement, called consensus, serves as final and irreversible settlement. The ledger reaches consensus on all outstanding transactions every 3-5 seconds, at which point a new ledger is issued. Anyone can be a validator, and active validators on the ledger today include universities, exchanges and financial institutions. There are currently 36 validators, and Ripple runs 6 of them—16%.
Ripple is different from conventional blockchain-based systems. All transactions are conducted through special artificially created gateways. This increased the security and speed of the exchange. Using the system, you can exchange various values in any volume. Ripple has a high transaction processing speed and sufficient reliability. This attracts both potential investors and users. The platform has many features that allowed the cryptocurrency to become one of the market leaders in terms of capitalization. The system is used by banking institutions, since it is the most reliable and fastest way to transfer funds through the platform. Key benefits of Ripple:
- The use of the blockchain ensures fast transactions and low fees;
- The third largest cryptocurrency by market capitalization;
- Trading on various exchanges is available, including CFDs;
- Large banking institutions invest in cryptocurrency;
- Ripple can be used for exchange transactions or transfers.
Main Benefits of Ripple CFDs
You can take advantage of the volatile movement and trade Ripple with CFDs. To protect yourself from potential price jumps and reversals, it is recommended to set stop-loss and take-profit. You don’t need to own Ripple, you can just trade at its price. The Ripple platform is popular with traders as large financial institutions such as Google, SBI Holdings, American Express, UniCredit, Merill Lynch, UBS, Santander, RBC and Westpac have joined the cryptocurrency. Trading CFDs on cryptocurrencies allows for leveraged trading and provides higher liquidity. Ripple is a very interesting cryptocurrency and Ripple trading can be highly profitable, but you have to do it right with safe and reliable brokers. It is advisable to start trading on the hourly chart, in accordance with the trend movement of the market, while it is advisable to use support and resistance lines and various technical indicators that help establish the direction of the trend.