Ripple was once considered the next step in gross settlement. While its utility is still scrutinized by the community, its coin XRP has been quite popular yet also sparked some controversy over massive shifts of currency by anonymous “whales”. The vulnerability of most cryptocurrencies to external manipulation by extremely rich individuals or groups has been a widely discussed topic. Should you try a Ripple trading bot to outperform the market?
The benefits of automation
XRP investors have been talking about automation from the moment this token was conceived. XRP is not only volatile but also can be moved quickly meaning that those who want to keep up with the market must utilize robots. At the same time, some common folks suspect that some shady whales are messing with the price.
Here are some advantages that users of robots enjoy:
- No idle time. In aggressive markets with high volatility, being quick-minded and decisive is quite important. Since crypto markets operate 24/7, you have to be ready to place an order at any given moment.
- An XRP trading bot won’t hesitate. Another important factor is that robots do not waste time on unnecessary analysis. People tend to overthink different market shifts and miss out on opportunities.
- Machines are heartless, cold-blooded dealers. It is important to keep your head cool when trading. Humans often make errors due to emotionality. Robots do not possess such weaknesses.
- Low pricing. Just a decade ago, you needed a solid portfolio and thousands of dollars to even start considering implementing automation in your trading routines. Today, you can get a myriad of sophisticated bots from WunderTrading for less than $10.
Ripple crypto bot trading allows investors to quickly react to a rapidly shifting market situation and perform better than those placing orders manually. While it is not guaranteed that you will acquire profits in 100% of situations, the chances of not being gamed by whales are significantly lower.
Choosing a Ripple trading platform
This particular token can be found on most popular exchanges. Choosing where to trade comes down to your personal preference. Some believe that services that have better UX/UI should be prioritized (Binance or KuCoin come to mind). Others think that low fees are more important (Kraken is known for lower fees on average).
However, when it comes to specialized automation tools, you need to be very careful and choose wisely. While focusing on only Ripple can be beneficial for some investors, most people who want to make money on exchanges must diversify and use a variety of assets.
A good automation service will offer flexible pricing and even more flexible products. Let’s take a look at what WunderTrading brings to the table.
- GRID bots that can instantly place orders based on price and time ranges. It is basically what many call “buy LOW, sell HIGH” but fully automated.
- Arbitrage is used to find miniscule differences between prices on different exchanges to make profits on such margins.
- DCA buying is a safer method of investment with relatively small purchases of specific assets at the right time to inflate your portfolio with potentially value-gaining assets.
A free Ripple trading bot is also something you should consider. If your investment scope does not go beyond this particular asset, using WunderTrading can be quite efficient. This service offers a free plan with a couple of bots that can be utilized to great results.
Do you need a bot for XRP?
The community has a consensus that using bots is a necessity when it comes to trading XRP. However, you can certainly try to outperform the market manually. If you are sure in your strategy, implementing bots at least partially should never be off the table.