Ripple price is reflecting moderate improvement after facing a steep fall overnight. The coin marked a sharp decline
Ripple is a financial real-time gross settlement solution that aims to securely provide free global financial transactions. Ripple is similar to Bitcoin in function, but it is faster and cheaper.
Before starting trading XRP, it’s important to figure out where you can buy Ripple from. There are two options to buy Ripple, which are:
Using fiat money like US dollars, Yen, Euros, etc.
Using other digital assets like Ethereum and Bitcoin.
Here are some important strategies that can help you in making a profit from XRP:
1) Intraday charts – The 15-minute charts will give a better view of the overall price and the Ripple intraday trend.
2) Time window 9-10 GMT – It has been found that the best time to buy Ripple is between 9-10 GMT. You should buy Ripple in the up days, which will ensure that you are buying in the direction of the prevailing trend.
3) Stop loss below the opening price – You should keep a stop loss below the opening price of XRP as falling of price will indicate that the buyers are weak.
Ripple has the potential to disturb the SWIFT system of sending money to various countries. It doesn’t have any big competition in its area, and with the right infrastructure, the cryptocurrency can make a huge success.