How to make profits on XRP/USD margin trading with 100x leverage

Partner Content

How to make profits on XRP/USD margin trading with 100x leverage

Bitcoin, which has soared sharply higher over the last few months, has suddenly turned, losing almost 15% in value earlier this week.

Ripple’s XRP, the #3 cryptocurrency by market cap, is also in the red with a nearly 10% loss during the same period.

Where will XRP/USDT be trending in the near term?

After a divergence formed on MACD, Ripple’s price started declining until it broke through the support line of $0.29. It might imply further decline up to the long-term support line around 0.28.

A new monthly low was formed near $0.381 before the price started a fresh recovery, however, XRP is now facing resistance near the $0.405 level.

If XRP price breaks through the resistance line marked at 0.4785, it will signal the start of a stable ascending trend.

On the other hand, if the price struggles to move above $0.42 and $0.43 mark, it could decline once again and might open the doors for more losses towards $0.385.

Make profits by longing or shorting XRP price via margin trading

Margin trading is a rising trend on nearly all cryptocurrency exchanges. Unlike spot trading, where traders only make profits when prices rise, margin trading allows traders to bet on whether a cryptocurrency’s price will rise or fall, enabling them to realize a profit even during a market downturn.

Traders who don’t hold a large amount of cryptocurrencies can opt for margin trading, which allows them to increase their buying power through leverage which can offer a chance to realize even greater profits.

As we analyzed above, XRP price should consolidate between $0.38 – $0.42 soon with major support levels at $0.40, $0.39 and $0.38 and major resistance levels at $0.41 and $0.425.

Based on this, XRP/USDT margin trading during the price fluctuation can bring you profits.

How you can gain profits from XRP/USDT margin trading

Bexplus exchange is a world-leading Bitcoin futures leverage platform that enables traders to take advantage of crypto market uptrends and downtrends and make profits without having to invest a great deal of money.

In addition to BTC, ETH and LTC futures trading, Bexplus has also listed EOS/USDT and XRP/USD trading pairs with 100x leverage.

Note: The margin and profits in XRP futures trading will be finalized and exchanged to BTC. To trade XRP perpetual contracts on Bexplus, you first need to deposit BTC in your account.

For example, if you deposit 0.1 BTC you can purchase 200,000 XRP contracts, which you can then open long or short positions.

Make profits by longing or shorting XRP price via margin trading

Open XRP Long Position

Opening a long position in a margin trade means that you are betting that the price of the asset will go up. So if you were to buy – or ‘go long’ on – XRP at the price of $0.38 with 0.1 BTC, when it rises to $0.42, you would get 0.7 BTC as profit.

Open XRP Short Position

On the other hand, if you are betting that the price will fall, you can open a short position.  If you sell – or ‘short’ – XRP at the price of $0.42 with 0.1 BTC, when it drops to $0.38, you would earn 0.7 BTC.

Free BTC giveaway on Bexplus Exchange

Bexplus makes it easy to earn Bitcoin profits even when you aren’t trading!

100% Deposit Bonus

100% Deposit Bonus

When you deposit Bitcoin into your Bexplus account, you can earn up to 100% BTC bonus, which can also be used to trade futures contracts.

The more deposit, the higher a bonus you will get – up to a maximum bonus of 10 BTC!

With the bonus, your margin rate will be increased which may help you get more profits in futures trading.

Earn BTC Referral Reward

Earn BTC Referral Reward

When you invite friends to register on Bexplus via a referral link or invitation code, you will receive a commission based on the transaction amount. You can enjoy up to 15% of the reward rate.

Enjoy 72% Annualized Interest

Enjoy 72% Annualized Interest

Bexplus has recently upgraded its wallet and now offers up to 72% annual interest on Bitcoin balances.

For example, if you held 10 BTC on Bexplus, by the end of the year you would have earned 7.2 BTC in interest (10 x 0.72 = 7.2).

Interest is calculated on a daily basis and credited into users’ accounts on the last day of each month.

Disclaimer: This is commercially sponsored content and cannot be considered as investment advice. Publication does not imply endorsement and Micky is not responsible for the products, services, or claims made. Readers should do their own research before taking action on this or any other company and assume full responsibility for their decisions.

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.