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Your 2021 Guide to Ripple Trading

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The Ripple coin denoted by the ticker (XRP) is one of the most resilient crypto coins. The history of the coin dates back to 2012 when it was first released. Today, the coin has joined the list of the top 10 cryptocurrencies by market capitalization.

As a cryptocurrency investor, you want to find out if trading the Ripple coin (XRP) is still feasible in 2021, considering some of the negativities surrounding the coin.

XRP Fast Facts


First, let us talk about some of the important things you need to know about the Ripple coin (XRP).

The coin was released in 2012 with a maximum supply of 100 billion units. This might be one of the largest cryptocurrency issuances.

Second, XRP is one of the crypto assets designed to disrupt the traditional financial system. At a glance, the coin has one of the best cross-border remittance networks designed to make global transactions faster and cheaper. This tends to give the likes of PayPal and other global payment processors a run for their money.

Third and most important, the Ripple coin (XRP) has come under scrutiny in the last couple of months, thanks to the lawsuit filed against it by the United States Securities and Exchange Commission (SEC). The lawsuit alleges that the XRP coin and its payment networks are not registered as securities.

As it stands, the outcome of the lawsuit will solidify the belief of the XRP community on the prospects of the coin and the underlying global lightning payment network.

How to Trade Ripple Safely in 2021


Despite the lawsuit and a host of other negativities surrounding XRP, it hasn’t deterred the belief of most of the investors. Although XRP has dropped from the third position to the seventh, hopes are still high that it will make a rebound.

If you want to trade the Ripple coin (XRP), now is the best time to do so. Here are some of the tips to help trade XRP safely:

1. Find out Where Ripple is Listed


The Ripple coin (XRP) may have been in circulation since 2012, but it is not readily available on all the exchanges.

Also, the recent lawsuit filed against it by the U.S. SEC led to the delisting of the coin from some exchanges.

Thus, your first action is to find out some of the exchanges that offer the XRP coin for trading activities.

2. Sign up on the Exchange


Step #2 is to sign up for an account on the exchange. Ensure that you have done a couple of researches about the workings of the exchange. Familiarise yourself with how the exchange works, as well as the security architecture in place to protect your funds.

You may also be prompted to verify your identity by uploading some important documents, linking your bank/credit card, and initiating a facial verification.

3. Develop a Profitable Trading Plan


Your primary aim for trading the Ripple coin (XRP) is to make profits. This requires a carefully analyzed trading plan that helps you make profitable trading decisions.

4. Place Your Order


Now, go ahead and place your first order for the XRP coin. Wait for the order to fill then allow it to run for some time.

5. Take Profits Every Step of the Way


The cryptocurrency market is very volatile – and trading Ripple (XRP) at this time is very dicey. For this reason, always take profits so you wouldn’t be surprised when the market fluctuates and you lose both the profit and capital.

Other XRP Trading Strategies Worth Considering


These are some of the additional ways to trade the Ripple coin (XRP) and make profits in 2021:

1. Trade XRP Against the Dollar


When it comes to cryptocurrency trading, one of the strategies is to hedge your crypto-assets against the dollar. The dollar is usually represented by the Tether USD (USDT), a stablecoin.

When trading the XRP, consider trading it against the USDT. This way, you wouldn’t be overly affected by the movement in the market.

Besides, trading your XRP against the BTC or other altcoins pairs might be risky, because a decline in the prices of those crypto-assets could trigger more losses for you.

2. Trade XRP CFDs


Another guide to trading the Ripple coin (XRP) is to trade the XRP Contracts for Differences (CFDs). This is ideal for traders who don’t want to own the coin, but merely want to speculate on it.

The concept of CFDs simply requires traders to speculate on or predict the next price action of the XRP coin. It could either be a prediction for an upward movement or a downward movement.

If you want to predict an upward movement, you will "Long" the XRP coin. You can also "Short" the XRP coin if you think the current value will depreciate more.

3. Master the Technical Aspects of Trading XRP


Both Fundamental Analysis (F.A.) and Technical Analysis (T.A.) help traders to take positions that will help them make their profits from trading the Ripple coin (XRP).

Also, learn how to read the chart patterns, monitor price movements, and study the historical price data of the coin.

Conclusion: Trade Ripple (XRP) in 2021


The Ripple coin (XRP) is, no doubt, in a pretty tough place, but this doesn’t stop the hype and enthusiasm surrounding the coin. You can find out more about this on CoinList.

Always remember to be non-sentimental when trading the coin. Combine your mastery of effective trading strategies and risk management to balance your XRP portfolio and make profits from the coin.

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