Ripple is the Leading Cryptocurrency on Trading Platform eToro

Ripple is the Leading Cryptocurrency on Trading Platform eToro
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XRP is one of the cryptocurrencies that have a considerably smaller market capitalization when compared to the big guns like Bitcoin and Ethereum. However, it is a very stable token and is currently the most popular one eToro, a popular social trading platform. Ripple has proved the doubters wrong in 2018 and according to the numbers, it is doing even better in 2019. It would be a great time to buy Ripple.

Traders in the market have said that the crypto-coin is doing extremely well on eToro and is the most frequently traded currency by unique open trades. What makes the future of Ripple even more promising is that the token isn’t just beating other cryptocurrencies only, it is also competing against other tradable assets. According to a report published by the trading platform in January, XRP has been traded more than Amazon and is currently running close behind the likes of NSDQ100, Apple stock, oil, and gold.

A report by Dapp Life said that XRP has been a part of 29,991 unique open trades. This number bests the most successful cryptocurrencies: Ethereum with 26,773 open trades while Bitcoin contributing to 25,148 unique open trades. The numbers mentioned above can be confirmed by eToro’s tweet regarding the most traded instruments on the platform.

Several reports in January 2019 have told that Apple was the most traded stock while the most traded instruments were oil and gold. Daily Hodl has also crunched the numbers and came up with the same conclusion. As of January 2019, the most traded assets by unique open trades are:

  1. Oil – 35,503 trades
  2. Gold – 32,484 trades
  3. Apple – 31,767
  4. NSDQ100 with 31,683

As you can see in the ranked list above, in January 2019, just 2,000 more unique open trades would have given Ripple a relaxing lead against the exchange market’s most traded stocks. This would also have given the token a promising opportunity of competing with Gold, the second most traded asset on eToro. Even though this wasn’t how things panned out, it gives us an idea of the potential of XRP.

Ripple isn’t only popular on eToro either, Coinbase has recently announced the availability of the cryptocurrency on its iOS and Android app as well as on the website and Coinbase Pro. Ripple’s price has gone up by a small percentage after this news. The market is noticing the token’s success as more and more people are getting ready to buy Ripple.

It is important to learn from the mistakes of the crypto market and be realistic about the situation. Mati Greenspan, Senior market analyst at eToro said that the market can’t go bullish in a night. In the interview, Greenspan explained how he believed that the ridiculous bull market of 2017 was actually the result of a chain of events that began in 2015. Greenspan told that the market is gaining a lot of volume for the first time in months but we are still in a bear cycle.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

Past performance is not an indication of future results.

Interested in Buying Ripple? eToro is a multi-global trading platform with Ripple and 13 other pairs of cryptocurrency available. Click here to learn more

About Ahmed Humayun

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Ahmed is a medical doctor by profession but his love for the tech has landed him on one of the leading tech/crypto website. He has a vast experience in tech industry and spends most of his free time reading and writing about the crypto world. He can be reached by e-mail on