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.
Open an account now
There's no minimum balance to open an account, it takes less than five minutes, and there's no obligation to fund or trade.
FAQs
You might be interested in...
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What is bitcoin?
Find out exactly what bitcoin is and how it came into being
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How to trade bitcoin
Get to grips with the basics of how to trade bitcoin with our step-by-step guide.
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Cryptocurrencies: buying vs trading
Explore the differences between buying cryptocurrencies and trading them.
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:
+61 (3) 9860 1734 or +44 2078 960079
We're here 24hrs a day from 7am Saturday to 9pm Friday (GMT).
