XRP/USD CFD Trading

XRP/USD CFD Trading

XRP/USD is a highly volatile cryptocurrency pair that provides traders with exciting trading opportunities. Interested? Start trading XRP/USD CFDs with FXOpen today!
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What Is XRP/USD CFD Trading?

XRP/USD CFD trading refers to the trading of XRP against the US dollar. The pair shows how much 1 XRP costs in USD. XRP is a cryptocurrency that was created by Ripple Labs (formerly known as OpenCoin) in 2012. It is both a digital currency and a digital payment protocol. XRP is designed to facilitate fast and low-cost cross-border payments and has some distinctive features compared to other cryptos like Bitcoin.

XRP/USD CFD trading involves the use of Contracts for Difference (CFDs) to speculate on the price movements of XRP in relation to the US dollar. CFDs are financial derivatives that allow traders to benefit from the value changes of an underlying asset without actually owning it.

To get the most up-to-date insight into the recent performance of this pair, check the XRP to USD chart on the TickTrader platform. It can help you make informed decisions at home or on the go – no matter if you use the desktop version, web terminal, or mobile app. Our real-time chart includes the very latest prices, historical data, and technical analysis tools to help guide your next trade.

XRP/USD Historical Performance

These are the most interesting fluctuations of XRP/USD:

XRP was introduced in 2013, and during its early years, its rate remained relatively stable, often fluctuating by fractions of a cent. XRP experienced a significant surge in late 2017, along with the broader cryptocurrency market. In January 2018, it reached a high of over $3.00.

After the peak in early 2018, XRP, like many other cryptos, entered a bear market. It declined significantly throughout 2018, and most of 2019, and the price of 1 XRP to USD fell to $0.20.

Until the end of 2020, the market was fairly stable. It experienced some spikes during the latter part of the year. Towards the end of 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, alleging that XRP was an unregistered security. This legal action had a significant impact on XRP, causing a sharp decline as various exchanges delisted or suspended XRP trading.

In April 2021, the token managed to climb above $1.80 but plunged soon and returned to $0.30 in the summer of 2022. Later, the market started recovering again.

The XRP/US dollar pair suffers significant fluctuations. Fortunately, CFD trading at FXOpen allows traders to take advantage of both the rises and falls of an asset price.

Major Factors That Affect XRP/USD Rate

XRP/USD is influenced by a variety of factors. These factors have both short and long-term impacts. Here are some major factors that may affect the pair:

The broader cryptocurrency market often sets the tone for individual tokens and coins. If Bitcoin experiences significant fluctuations, it influences sentiment and activity in the XRP/USD.

Investor sentiment plays a significant role in the value of XRP. Positive news and developments related to Ripple (the company behind XRP), partnerships, and adoption may boost sentiment and drive the market higher, while negative news and regulatory concerns have the opposite effect.

Regulatory developments and government policies have a substantial impact on XRP. Regulatory clarity or uncertainty regarding the classification of XRP as a security or a commodity influences investor confidence and activity.

The adoption of XRP for cross-border payments and remittances by financial institutions and payment providers may drive demand for it and lead to its growth.

Upgrades or changes to the XRP protocol can impact the token's functionality, security, and appeal to users and investors.

Economic indicators, interest rates, and macroeconomic factors influence the strength of fiat currencies like the US dollar, which in turn may affect XRP/USD.

Unexpected events, such as geopolitical tensions, financial crises, and natural disasters, can impact financial markets, including cryptocurrencies.

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Important: Cryptocurrency trading via CFDs is only available to our Professional clients. To find out more information about how this may affect you, please get in touch with our team.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.