Crypto

XRP/USD: XRP / US Dollar

A CFD on XRP priced in US dollars. You take exposure to the price without holding the underlying asset.

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What happens next

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Demo: choose your virtual funds and open the terminal. Live: upload your identity documents; an account is opened once they are approved. Live trading is not yet connected.

Market DNA

Below, XRP/USD is taken apart: its class, its contract, its hours and what is connected to it. Structure, not a signal.

Market DNA

What XRP/USD is made of.

Its class, its contract, the hours it lives in and the institutions, releases and ideas connected to it.

This is structure. It is not a score and it is not a signal: it tells you what the instrument is, not what it will do.

BaseXRPXRP

QuoteUSDUS Dollar

The price of XRP/USD is the amount of USD (US Dollar) needed for 1 XRP.

Asset class: Crypto
Contract: CFD, quoted in US dollars per XRP
Platform symbol: XRPUSD
Typical sessions: Underlying markets trade every day. Availability on the platform may include scheduled breaks.See the sessions on the World Market Clock
Concepts: Volatility Liquidity

Trading conditions

As published by GIO4X.

Spread from: 0.003 USDminimum, widens with market conditions
Leverage: 1:10depends on instrument and jurisdiction
Minimum lot: 1
Contract: CFD, quoted in US dollars per XRP
Platform symbol: XRPUSD

IndicativeSource: GIO4XIndicative trading conditions published by GIO4X. Not a live quote; actual spreads and requirements vary with market conditions and account type.

All trading conditions

Contract size, pip value and margin per lot

Contract size: Not yet published
Pip value per 1.00 lot: Not yet published
Margin per 1.00 lot: Not yet published

The 777 Raptor demo terminal does not list XRP/USD, and GIO4X has not yet published a contract specification for it. No figure is borrowed from a similar instrument. Contract specifications

Third-party chart

XRP/USD on a daily chart

The chart is supplied by TradingView and stays unloaded until you ask for it. Loading it connects your browser to TradingView’s servers.

Third partyChart by TradingViewThird-party data for XRP / US Dollar, not supplied or verified by GIO4X and not a GIO4X price. Symbol BITSTAMP:XRPUSD, UTC.

Before you trade it

Work the numbers. Know the words.

Tools

All tools

Glossary

Full glossary

Profile

XRP: the network behind the price.

The facts in brief; the sections that follow give the reasoning. General education about the network itself. It states no price, market value or ranking, makes no forecast and is not advice.

What the network is for: Fast, cheap payments and the exchange of one currency into another, on a ledger called the XRP Ledger.
How new units are issued: None are. The whole supply was created when the ledger began, and a large part was given to one company, Ripple, which has released it gradually from escrow.
Is the supply capped?: Yes: it was fixed at the start at one hundred billion and shrinks very slowly, because each transaction destroys a small fee.
How transactions are confirmed: By neither proof of work nor proof of stake. A set of independent servers, called validators, vote on each new version of the ledger every few seconds, and are not paid for it.
Custody: A coin is controlled by whoever holds its private key. Held yourself, there is no intermediary to fail and no one to restore a lost key. Left with an exchange, it is a claim on that exchange.
What a CFD on it gives: Exposure to the change in a quoted price, upwards or downwards, usually with leverage, through a contract with a provider.
What a CFD does not give: Any coin. Nothing can be withdrawn, sent, spent or used on the network, and the provider is the counterparty. A CFD gives no use of the ledger: nothing can be sent across it.

Confirmation, in plain words

Proof of work: computers compete to solve a puzzle that takes real electricity to attempt. The winner adds the next block of transactions. Rewriting the record would mean redoing that work faster than everyone else together.

Proof of stake: holders lock up coins as a deposit and take turns proposing and approving blocks. A participant who breaks the rules can lose part of the deposit. The cost of cheating is the coins at risk, not electricity.

The risks particular to it

Its history has been tied to one company and to proceedings in the United States courts. Rulings and announcements have arrived unscheduled and moved the price a long way in minutes, which is the kind of move that closes leveraged positions.
A large part of the supply is held by that one company. How much it releases is public, and is a matter for the company.
Exchanges have suspended trading in it in one country while it continued in others, and prices shifted between them.

These come on top of the risks of any leveraged product, which are set out in the risk warning on this page.

In depth

What is particular to XRP / US Dollar.

XRP is the coin of the XRP Ledger, a network built for fast, cheap payments and for exchanging one currency into another. It is not mined: the whole supply was created when the ledger began in 2012, and a large part was given to a company, Ripple, which has released it gradually since. Its history has been tied to that company and to a lawsuit, more than to changes in the network.

General education about the underlying market. It states no current price or rate, makes no forecast and is not advice. What GIO4X offers on this instrument is in the trading conditions on this page, not here.

What moves it

Legal proceedings: In December 2020 the United States Securities and Exchange Commission brought a civil action against Ripple and two of its executives concerning sales of XRP. Several exchanges suspended trading in the coin for a period afterwards. For years the coin moved more on filings and rulings in that case than on anything else; the court record is public.
The company’s holdings and sales: Ripple placed most of its XRP in escrow on the ledger in 2017, with a set amount released each month and the unused part returned to escrow. The company publishes reports on its holdings and sales. The amount reaching the market is therefore visible, and is watched.
Adoption for payments: Announcements that banks or payment firms will use the ledger, or the company’s software, have moved the price. Using the company’s software does not always mean using the coin, a distinction the announcements do not always make clear.
The wider crypto market: XRP generally rises and falls with Bitcoin, though it has had long periods of moving on its own news. It is widely held by individual investors and is among the most heavily traded coins on exchanges in parts of Asia.
Exchange listings: The suspensions that followed the 2020 lawsuit, and the later resumptions, showed how much the price depends on where the coin can be traded. A relisting on a large exchange widens the pool of buyers within a day.

Mechanics

How it is quoted and built.

Agreement without mining or staking: The ledger uses its own consensus protocol. A set of independent servers called validators vote on which transactions to include, and each server chooses a list of validators it trusts. A new version of the ledger is agreed every few seconds, and validators are not paid for the work.
A fixed supply that slowly shrinks: One hundred billion XRP were created at the start and no more can be made. Each transaction destroys a very small fee, so the total falls slightly over time. There are no block rewards and no halvings.
Reserves and tags: An address on the ledger must keep a small minimum balance, which cannot be spent while the address is in use. Deposits to exchanges usually need a destination tag as well as an address, and leaving it out is a common cause of lost or delayed funds.
More than a coin ledger: The ledger has a built-in exchange and can hold tokens issued by others, including tokens that stand for ordinary currencies. XRP is its native asset and the one in which fees are paid.

Not the same thing

The market itself, and a contract on its price.

Holding the coin yourself: A holder with the key can send XRP in seconds for a negligible fee, and must keep the minimum reserve in the address. As with any coin, the key is the whole of the holder’s control.
A CFD on the price: A CFD gives no coin and no use of the ledger. It is a contract with a provider on the change in a quoted price, usually leveraged and usually with a financing charge.
News risk: Because court decisions and regulatory announcements have arrived at unscheduled times and produced very large moves in minutes, a leveraged position in this coin has been exposed to gaps more than most. An owner of coins outright sees the same move but cannot be closed out by it.

Over time

Events in the life of the contract.

Amendments: Changes to the ledger are proposed as amendments and take effect only after a large majority of trusted validators has supported them continuously for two weeks. The list of amendments and their status is public.
Monthly escrow releases: XRP is released from the company’s escrow on a monthly schedule, and what is not used is locked again. The release is visible on the ledger itself.
Suspensions and relistings: The period after December 2020 is the reference case: trading was suspended on a number of venues in one country while it continued elsewhere, and prices and volumes shifted between them.
Court timetables: Hearings and filing deadlines in public litigation are scheduled; rulings are not. Anyone following the coin in those years was following two calendars, the market’s and the court’s.

These describe how such events work in general. How GIO4X treats them on its own contract (adjustments, rollover dates, suspensions) is a trading condition and is not yet published.

Timetable and sources

What is scheduled, and where the facts come from.

Worth knowing the timetable of

The monthly release of XRP from escrow
Ripple’s periodic report on its XRP holdings and sales
Amendments to the ledger that are open for validator voting
Scheduled hearings and filing deadlines in any public proceedings concerning the coin or the company
Announcements by exchanges of listings, suspensions and relistings

Named, never dated: dates move. The Economic Events page explains the main releases.

Primary sources

XRP Ledger documentation (xrpl.org), including the consensus protocol and reserves
XRP Ledger: the list of known amendments
Ripple: XRP Markets Report
United States District Court for the Southern District of New York: public docket in Securities and Exchange Commission v. Ripple Labs, Inc.

Named by publisher and series, so each can be found from the publisher itself. GIO4X has no connection with them.

What would a trade in it cost?

The cost of a trade is the spread, any commission, and financing for each night it is held. The Cost Lab works the three out for a day trade, an overnight position and a longer hold, from figures you enter. A complete total also needs the swap rates, which are not yet published; the Lab shows which input is missing instead of a total that only looks complete.

Work it out in the Cost Lab

The risk, in ordinary type.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.

XRP/USD is traded on margin. Educational information, not investment advice or a recommendation to trade.

Risk disclosure

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