Best Ripple Brokers
Ripple is still grappling with a class action law suit filed against it by SEC. The coin’s founder Brad Garlinghouse and his team of lawyers announced a milestone on 20th October 2022 that they had lastly found a crucial infamous speech. The speech is a 2018 delivery of SEC director William Hinman declaring Ethereum and Bitcoin as decentralized. In the speech, the director described Ethereum was under no federal securities regulations. Seems Ripple could be at the edge of finding its vindication for a lawsuit lasting since 2020. This was the time SEC filed the lawsuit alleging Ripple sold XRP as an unregistered financial security.
In a recent tweet, Brad slammed the Securities Exchanges Commision as shameful and that they less cared about transparency, disclosure and clarity as they have historically claimed.
The SEC wants you to think that it cares about disclosure, transparency and clarity. Don’t believe them. When the truth eventually comes out, the shamefulness of their behavior here will shock you. https://t.co/rqEzDXEx1A/
— Brad Garlinghouse (@bgarlinghouse) October 20, 2022
Ripple is built on top of the Ripple Protocol Technology and it is not based on the blockchain. Rather, the protocol uses interconnected gateways distributed across servers in multiple countries. These servers take part in processing and validating transactions. XRP coins have a limited upper cap supply of 100 Billion coins. 35% of these coins are still in the hands of Ripple, which releases them into circulation through deflationary consensus. This means you cannot obtain XRP coins through mining.
The problem between SEC and Ripple is its centralized nature. Ripple is run and controlled by the parent company, Ripple Labs which is striving to build a partnership portfolio of traditional financial institutions such as banks. The focus of Ripple is to sell its RippleNet technology to such institutions and therefore soar the popularity of its token. When banks adopt the technology architecture, they in turn use it to facilitate cross-border payments and settlements.
One of Ripple’s selling points is fast transaction speeds. The technology beats the speed of traditional SWIFT wire transfer, which has been a feature of traditional banking for decades. Therefore, making it a better alternative for banks and for facilitating cross-border payments and remittance. Another plus comes in Ripple’s ability to cut down hefty transaction fees. Unlike the blockchain, users can also reverse transactions or change fields just incase of an error.These features have created a positive affinity between traditional banks and the Ripple Network.
Ripple coin (XRP/USD) is one of the top 10 cryptocyrrencies in terms of market capitalization, standing at the 5th place at $ 11.7 billion. It has been notable that Ripple has missed out on the bullish run in the
cryptocurrency market, apart from a sudden surge in November, which was short-lived. This makes makes Ripple a lot less volatile than most major cryptos, therefore a relatively safer financial instrument to trade. It is crucial, however, to only trade dash with a well-established forex broker. eToro and AvaTrade offer a range of advantages for crypto traders, who would prefer to trade Dash and other cryptocurrencies. Reliable forex/cryptocurrency brokers offer features which makes trading digital currencies safe and easy and will put you in the best position to trade profitably. Below are some of the features that most reliable cryptocurrency brokers offer:
- Superior execution speeds
- Lowers crypto spreads and spread display
- A wide cryptocurrency trading range
- Social crypto trading
- Cyber safety
Choosing the Best Ripple Broker
Here are some excellent forex brokers who offer contracts for difference (CFDs) on dash and other cryptos:
Why Trade Ripple?
The price of Ripple (XRP) has been stagnant during most of 2020, trading sideways, while the cryptocurrency market was surging. it increased in November 2020, quadrupling in size, bringing some decent profit to buyers, but it reversed back down and continues to trade in a tight range. While the profits might not have been like in other digital currencies during the bullish run, the risk has also been lower and trading opportunities haven’t misses for more conservative crypto traders. Ripple trading offers the following advantages:
- Predictable price range
- Lower volatility than most major cryptos
- One of the most liquid cryptocurrencies
- A good way to diversify investment portfolios
- Traded even when most other markets are closed – 24/7, 365 days a year
- Acts partially as a safe haven asset
How to Trade Ripple (XRP) – A Swift Guide
Ripple is traded on the above-mentioned forex brokers’ trading platforms with contracts for difference (CFDs). It’s just as easy as trading other financial instruments like commodities, stocks, and forex currency pairs.
When trading Ripple, you can use take profit, stop loss and any of the different entry orders offered by these reliable brokers. A safe way to trade ripple is with low leverage or no leverage at all.
Buy-and-hold trading strategies have yielded amazing results trading ripple. Of course, short-term trading strategies like trading the price action can also be successfully implemented on this unique and powerful cryptocurrency.