The most common way to make money with crypto assets is trading. Like with traditional assets, crypto trading means speculating on asset prices and generating income from their movements.
There are over 20 000 crypto coins and tokens in the market, but not all of them are worth attention. To choose a good asset for trading, pay attention to the following characteristics:
- technical features;
- real use cases;
- market capitalization;
- roadmap of the project;
- social networks.
One of the most traded crypto coins in the market is Ripple XRP cryptocurrency.
What is Ripple?
The platform is meant to facilitate banks and other financial companies’ work, allowing:
- speedy transactions of money around the world;
- cheap transfers with no intermediaries;
- conversion of fiat and crypto currencies.
The Ripple technology became very popular, and over 100 enterprises are now using it for their work. So Ripple has valuable technology and real use cases. The XRP rate is $0.42, and the market capitalization exceeds $21 billion (data from mid-January 2023).
The Ripple price is never too high. The reason is Ripple’s problems with the SEC – the lawsuit was started three years ago, but the end may be close.
SEC has filed a lawsuit against Ripple for offering unregistered tokens XRP, which they demand to be acknowledged as security. Ripple, in turn, refuses to claim XRP as security.
Recently, both parties of the lawsuit made briefings to affect the court case result. It is possible that the court case will end in 2023, but, as Ripple general counsel Stuart Alderoty said, the result of this lawsuit will probably have an impact on the future development of the digital field in the USA.
What Cryptocurrency Exchange to Pick for Trading?
Ripple is on the top-traded list on all crypto exchanges. Pick, for example, the WhiteBIT platform – the largest exchange in Europe. It is highly protected and aimed at clients’ convenience and safety. WhiteBIt offers over 450 traded pairs and sufficient liquidity for their conversion.
