Trade Ripple to Euro - XRP/EUR chart

Trading XRP to EUR – Ripple to Euro

The XRP to EUR can be a profitable trading pair. Its popularity is boosted because the EUR is one of the most traded currencies in the world.

The Euro adds liquidity because there is always a satisfactory level of demand and supply for this currency. So, Ripple to EUR currency pair can give you profitable trading opportunities as long as you have an adequate strategy.

If you take a look at the Ripple to Euro movement in the past, the level of price fluctuations shows that traders can make substantial profits with different trading styles and time frames. It can be seen that Ripple to EUR has the potential to achieve a price fluctuation of up to 15 per cent within a single day while more significant changes are also possible. Also, the XRP to EUR exchange displays that breakthroughs happen frequently.

What is Ripple?

Ripple is an open-source protocol platform enabling the swift and low-cost transfer of funds. At the same time, XRP is the associated cryptocurrency used to execute the transfer process. Unlike Bitcoin and other cryptocurrencies, XRP cryptocurrency is not mined.

Some crypto experts anticipate that Ripple may dominate international payments in future as it is a more efficient alternative to the existing SWIFT network and has attracted the attention of banks.

A growing number of institutions accept Ripple as a method for international payments. Whenever a transaction is made through the Ripple network, the user is charged a minor amount of XRP.
 

Here are some interesting facts about XRP:

1. - The maximum number of tokens for XRP is set at 100 billion. Around 40 per cent of the XRP tokens are in circulation – Ripple owns the majority or around 60 billion of the created 100 billion tokens.
2. - Transactions made in XRP can be settled in a couple of seconds. It is much faster compared to Bitcoin or Ethereum.
3. - XRP can be considered as a bridge currency. It enables financial institutions to execute transactions cutting down the number of intermediaries and decreasing the transaction costs.
4. - XRP was created to be used mostly in banks and as a money transfer system and not as a payment currency, unlike Bitcoin which can be used in stores.
    

Which factors affect Ripple value?

When talking about the value of XRP, traders should consider the general factors that affect the cryptocurrency markets and also XRP specific things.

Speaking about general factors, the value of XRP currency may be affected by the regulatory framework in different countries. It means that traders should monitor potential signals which may indicate a relaxation or tightening of cryptocurrency-related regulation.

Speculative trading might also put pressure on XRP value, or if there may be a sudden increase in demand or supply based on unreliable information. In addition, the supply and demand of XRP on the market can also create fluctuations in the price.

Ripple is trying to attract more customers to use the services. Consequently, when larger financial institutions implement Ripple technology in their operations, this will have a positive impact on the XRP value. So, traders should also monitor announcements in which banks or other institutions share their plans to test or use this technology.

What is the Euro?

Officially introduced in 1999 (in 2002 it was introduced in its physical form) the Euro or EUR is the official currency of 19 countries which are part of the European Monetary Union (EMU) and the European Union (EU). The group of countries which use the EUR as their official currency is also known as the Eurozone. There are also countries which are not part of the EU or EMU but, for one reason or another, use the EUR as their official currency (Monaco, Montenegro, San Marino, etc). The EUR is one of the most popular currencies in the world and the second most-traded currency after the US dollar.

Which factors affect the Euro value?

As an official currency of the EMU countries, any adverse or positive changes in the EU economy or the economies of individual countries can result in changes in the EUR exchange rate. Employment rates and job creation can also affect the EUR. Moreover, traders should closely track the monetary policy, which is managed by the European Central Bank (ECB) and watch the economic news release calendar.

Fluctuations in EUR value are also under the influence of the national debt of individual countries as well as their budget deficit. Also, political events and international agreements may drive the value of EUR.

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