Can trading XRP to BTC be profitable? The Ripple to BTC pair is composed of two of the top cryptocurrencies in terms of market capitalisation. Each has a high degree of volatility. Trading the combination Ripple to Bitcoin shows that there are profits to be made but you should closely watch factors which could weaken or strengthen Bitcoin or XRP currency.
The size of the fluctuations for this pair can be different depending on the time frame. Regardless of your trading preferences, XRP/BTC has the potential to provide an adequate number of signals which could create the opportunity for profitable trades.
Be careful with the XRP to BTC exchange as the rate can be confusing given the number of zeros and decimals. This is solely due to the enormous difference in the per-unit price between the two cryptos.
Since its introduction in 2008, the Bitcoin had a significant impact on the financial markets and on trading. Despite the scepticism related to BTC in the early years, it is now one of the most actively traded cryptocurrencies in the world. Bitcoin is a base or quoted currency in tens of currency pairs with a daily trading volume reaching tens of billions of pounds.
The supply and demand for Bitcoins have a major influence on its price. The cost for mining Bitcoins also affects the value of BTC, in a way that higher costs would imply that BTC value should increase or mining would be unprofitable. The number and strength of competitive cryptocurrencies and the number of currency exchanges which quote the BTC can positively or negatively impact BTC value. Moreover, different regulations and legal issues can affect the value as it was evident in the past.
Ripple is an open-source protocol platform enabling the swift and low-cost transfer of funds. At the same time, XRP is the associated cryptocurrency used to execute the transfer process. Some crypto experts anticipate that Ripple may dominate the international payments in the future as it is a more efficient alternative to the existing SWIFT network and it has attracted the attention of the banks.
XRP currency is among the top cryptocurrencies in terms of market capitalisation. Being part of the cryptocurrencies market means that XRP is vulnerable to factors which can have a positive or negative impact on the digital currencies. The XRP value is also driven by its supply and demand on the exchanges where an increase in supply during a limited demand may cause depreciation.
While it is rare, big players may cause fluctuations in XRP price by opening numerous smaller trades with the objective to manipulate the demand and supply for the currency. This type of trading can also be used on any other cryptocurrency. Furthermore, speculations related to cryptocurrency regulations might also affect the value of XRP and consequently Ripple to BTC.
Access to 70+ technical indicators and analysis tools, powerful charts, real-time price alerts and notifications.
Seamlessly fund your account and withdraw fiat with your credit card, bank transfer or a crypto wallet.
Stop paying more to trade BTC. Start with as little as 0.002 BTC and enjoy the power of up to 100x leverage.
Instantly buy tokenised assets with Bitcoin and at competitive prices. Store your holdings safe and transfer with ease.
Manage your risk with guaranteed stop-loss and take-profit orders. Never lose more than you put in.
Trade the global financial markets using Bitcoin or Ethereum.
Authorised by the High Technology Park of Belarus, the European blockchain regulator, the safety of your holdings is guaranteed.
Keep an eye on your positions with over 75 advanced charts, price analysis and price alerts.
Use stop-loss and take-profit orders to keep what you earn.
Use the world’s first regulated tokenised assets exchange to build a diverse investment portfolio with your crypto holdings. Make your deposits in Bitcoin or Ethereum to trade global financial instruments with competitive leverage and tight spreads. cryptocurrencieshub.com keeps your holdings secure and accessible at a glance.