Last Updated on January 30, 2021 by Ope Quadri
The value of bitcoin is going to influence the price of other altcoins for the next decade if not more.
Due to the volatility of cryptocurrency, we’ve witnessed how cryptos have fallen and risen over time.
So, how exactly can you profit from the fall of ripple (XRP), one of the cryptos currently facing some lawsuits?
We’ll share some XRP trading tips with you if you’re ready to make some cool cash buying and selling ripple.
Cryptocurrency trading offers excellent financial opportunities to make some cool money since bitcoin reached all-time high.
We’ve seen how the price of bitcoin determines the price of Tether, ChainLink, Stellar, and other altcoins.
For instance, ChainLink was just $12 less than five months ago, today, its value is worth $22/1 ChainLink.
Is it safe to invest in Ripple?
A professional who knows how cryptocurrency works will never promise you the specific amount you would make trading in ripple or any other cryptos..
It is volatile. Only use the money you can forego if anything happens. To invest your entire savings.
Monitor the indicators have in your arsenal enough information and resources to help mitigate losses.
I was talking to a friend a few days about how he could make money from trading XRP.
His response was Ripple may not be good crypto to invest at the moment. I asked him why.
He said Ripple was facing a number of lawsuits in some countries. Barely three days we had that discussion, XRP has gained 18% in value in the last 24 hours.
If you are one of those who don’t believe Ripple would bounce back, take a few minutes to read through the guide and buy the dip.
We’ll calculate the profit you could make in hours both in US dollars and Nigerian Naira (N)
Factors to Consider To Profit From The Fall of Ripple (XRP)
- When to trade
- Monitor market indicators
- Monitor monetary policies of major players
- Pay attention to fluctuation
- Track price on crypto tracking website
When to trade
If you want to buy and sell Ripple (XRP), first, it is very important for you to decide when to trade and understand its volatile nature
Monitor market indicators
Then keep monitoring the market: the price, indicators that could shape its value over time.
You have to know what drives supply and demand, as well as technical indicators gleaned from charts on the crypto tracking website.
Monitor monetary policies of major players
Policies in the United States, China, South Korea, Canada could have a significant influence on the price of XRP, pay attention to them.
Track price on crypto tracking website
Pay attention to the fluctuations on major trading platforms and indications on site like coinmarketcap.
CoinMarketCap is a cryptocurrency market analysis and tracking website that provides data on more than 2000 cryptocurrencies globally.
When you monitor the changes, you will be able to know the best time to pump money into it.
How To Make Profit From The Fall Of Ripple (XRP)
Ripple a few days ago was just $0.26 and has risen to $0.33 at the time of compiling this report
This is a risky and expensive venture, but you can find a reliable trader/broker and get into the game.
In the past three years, we’ve seen crypto price plays an important role in the global economy, but profiting from it is not always as easy as it appears.
When crypto or ripple prices are rising or falling, there are a lot of investment opportunities that present themselves.
Read on to see what strategies you could use to make money from trading XRP.
The best time to buy ripple is when the price falls and sell when the value begins to pick.
How much you could make trading XRP
I bought $2,000 worth of XRP when the price is $0.26. This means I have XRP7,692 in my wallet.
When the price jumped to $0.33, it means I made $0.07 on each of the XRP I bought a few days ago.
Therefore $0.07 X 7,692=$538.44
This means I made $538 within a 4-day period of investment. When converted to Naira, that’s N247,480
That’s how it works!
Key Take Away:
1) Trading in Ripple is volatile just like every cryptocurrency around.
2) Buy the dips
3) Don’t invest your entire savings in cryptocurrency
4) If the value goes the other way, you could lose your money
5) Trade with caution.