Ripple trading

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

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

Why trade ripple with IG?

  • 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

  • Pay no tax

    Get tax-free profits when you spread bet on ripple2

  • Improved liquidity

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

All ripple costs and details

For full details including spreads, dealing hours and margins for ripple, follow the link to our help area.

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 Bid Offer 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, 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 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, 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 spread betting example

You open a spread betting position on ripple when it’s trading at $3.00. Our price is 304 to buy and 296 to sell.

You think that ripple is headed up in value, so you open a long position at 304 with a size of £10 per point. This means that you’ll earn £10 for every point that ripple moves up in price, and lose £10 for every point it moves down.

Ripple’s value rises 35 points to $3.35, and our price is 339 to buy or 331 to sell. You sell £10 per point at 331 to close your position.

331 – 304 = 27, meaning that your position has moved 27 points. Your gross profit is 10 x 27, or £270.

If your position had been short instead of long, you would have lost £430 (35 points plus eight points from the spread).3

Ripple CFD example

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 10 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).3

Open an account now

It's free to open an account, takes less than five minutes, and there's no obligation to fund or trade.

FAQs

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

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.

When are your ripple markets available?

Our ripple market opens at 4am on Saturday and closes at 10pm on Friday (London time). Please note that holidays may affect these hours.

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1 Based on revenue excluding FX (published financial statements, February 2018).

2 Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.

3 Excludes any daily funding charges.

Help and support

Get answers about your account or our services.

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Or ask about opening an account on 0800 195 3100 or newaccounts.uk@ig.com.

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.