Ripple trading

Take advantage of ripple (XRP) price movement with the world’s No.1 CFD provider.1

When you trade ripple with IG Bank, you aren't taking ownership of any cryptocurrency. Find out more about how leveraged ripple trading works.

Why trade ripple with IG Bank?

  • Go short as well as long

    Trade if you think ripple’s price is headed up or down

  • No exchange account

    We deal with multiple exchanges to find you the best price

  • A fully regulated, trusted provider

    In Switzerland we're a FINMA regulated company with over 40 years' trading experience

  • Improved liquidity

    So there’s more chance of executing your full trade at your chosen price

All ripple costs and details

See full details including spreads, dealing hours and margins for ripple, in our Help section.

What is ripple?

Ripple is two things:

  • A payment network (RippleNet) that enables the transfer of any currency – including other cryptocurrencies – around the world
  • The cryptocurrency (XRP) which underpins that network

Unlike other cryptocurrencies such as bitcoin or litecoin, ripple wasn’t invented to replace fiat currency. Instead, it uses the principles of the blockchain to facilitate faster, cheaper global payments for banks and other major institutions – acting as a competitor to existing systems like SWIFT. However, like its rivals, you can speculate on the price movements of XRP.

Live ripple prices

Markets Sell Buy Change
Ripple (USD)
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Prices above are subject to our website terms and conditions. Prices are indicative only.

Ripple leveraged trading vs investing

When you buy ripple with IG Bank, you aren’t actually taking ownership of any cryptocurrency: you’re speculating on the price movements of XRP against the US dollar. But your exposure to XRP’s price movements is the same as if you’d bought it outright.

On an exchange, you’d usually sell USD to buy XRP. If ripple’s price rises, then you can sell your XRP for more USD than you paid for it, earning a profit. If you buy ripple with IG Bank, then you’re opening a position that will increase in value as XRP’s price rises against dollar. With both, you’ll make a loss if its price goes down.

When you deal ripple using leverage, however, you only have to put down a fraction of your position’s full size as a deposit to start trading. That makes leveraged trading a powerful tool, but it also makes it risky – including the risk that your losses could exceed that original deposit.

With IG Bank, you can trade ripple in two different ways: CFDs and spread betting. Both allow you to go short on ripple as well as long, which means that your position will increase in value if ripple goes down against the dollar. If you go short and ripple’s price goes up, you’d make a loss.

Ripple CFD example

You open a CFD position when XRP is trading at $3.00, and our price is 3.04 to buy and 2.96 to sell.

You think that ripple is headed down in price, so you sell 10 CFDs at 2.96. This is the equivalent of selling 1000 ripple coins for $2.96 each.

Ripple enters into a bear market, dropping 25 points to $2.75. Our price is now 2.79 to buy and 2.71 to sell. You buy 10 CFDs at 2.79 to close your position.

$2.79 – $2.96 = $0.17 or 17 points. 0.17 x 1000 is 170, giving you a gross profit of $170.

If you’d bought ripple instead of selling it, then you would have lost $330 (25 points plus eight points from the spread).2

Open an account now

Fast execution on a huge range of markets

Enjoy flexible access to more than 16,000 global markets, with reliable execution

Fast execution on a huge range of markets

Enjoy flexible access to more than 16,000 global markets, with reliable execution

Deal seamlessly, wherever you are

Trade on the move with our natively designed, award-winning trading app

Deal seamlessly, wherever you are

Trade on the move with our natively designed, award-winning trading app

Feel secure with a trusted provider

With 45 years of experience, we’re proud to offer a truly market-leading service

Feel secure with a trusted provider

With 45 years of experience, we’re proud to offer a truly market-leading service

FAQs

Do I need a ripple wallet to trade XRP with IG Bank?

No. When you trade ripple with IG Bank, you are speculating on the price movements of XRP against the dollar, without buying or selling any actual cryptocurrency. So you don’t need a wallet, an exchange account, or any specialist technology to get started.

When is your ripple market available?

Our ripple market opens at 5am on Saturday and closes at 11pm on Friday (Geneva time). Please note that holidays may affect these hours.

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1  Based on revenue excluding FX (published half yearly financial statements, June 2019).

2 Excludes any daily funding charges.

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