Take advantage of ripple (XRP) price movement with Australia's No.1 CFD provider,1 and you’ll never need to own any cryptocurrency.
Ripple trading
Find out more about how leveraged ripple trading works.
Why trade ripple with IG?
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Go short as well as long
Trade if you think ripple’s price is headed up or down
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No exchange account
We deal with multiple exchanges to find you the best price
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Monitor your risk
Protect your profits and limit your losses with our range of tools, when trading these extremely volatile currencies
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Improved liquidity
So there's more chance of executing your full trade at your chosen price
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.
See full details including spreads, dealing hours and margins for ripple, in our help section.
Ripple leveraged trading
When you buy ripple with IG, 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, 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 trade 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, you can trade ripple CFDs. CFD trading allows 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.
You open a CFD position when XRP is trading at $3.00, and our price is 304 to buy and 296 to sell.
You think that ripple is headed down in price, so you sell 10 CFDs at 296. This is the equivalent of selling 10 ripple coins for $2.96 each.
Ripple enters into a bear market, dropping 25 points to $2.75. Our price is now 279 to buy and 271 to sell. You buy 15 CFDs at 279 to close your position.
279 – 296 = -17, so your position has moved 17 points. 17 x 10 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 17,000 global markets, with reliable execution
Fast execution on a huge range of markets
Enjoy flexible access to more than 17,000 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
No. When you trade ripple with IG, 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.
Our ripple market is open from 7pm AEDT on Saturday, to 9am AEDT on Saturday. Please note that holidays may affect these hours.
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Cryptocurrencies: buying vs trading
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1 Number 1 in Australia by primary relationships, Investment Trends August 2017 CFD Report.
2 Excludes any daily funding charges.
Contact us
Questions about opening an account:
+61 3 9860 1799
helpdesk.en@ig.com
Existing client questions:
We're here 24hrs a day from 8am Saturday to 10pm Friday (UK time).
