How to Long XRP: A Complete Guide Using Backpack Exchange

XRP powers the Ripple network's vision of transforming global payments through blockchain technology. As financial institutions increasingly adopt Ripple's solutions and regulatory clarity improves, XRP presents compelling opportunities for traders betting on its upward potential. The token's established infrastructure, growing partnerships, and position as a bridge currency make it an attractive asset for long positions during favorable market conditions.

Backpack Exchange delivers professional XRP-PERP trading with up to 50x leverage and institutional-grade liquidity. Our perpetual futures platform enables you to go long on XRP with maximum capital efficiency, while our revolutionary Interest Bearing Perpetuals ensure your collateral generates real-time yield with hourly APY updates throughout your trade. Whether you're capturing breakout moves or building longer-term positions, trade confidently on our regulated platform designed for traders at every level.

XRP Market Details

 Name: XRP
Ticker: XRP
Total Supply: 100,000,000,000 XRP
Network: XRP Ledger (XRPL)
Backpack Perpetual Trading: https://backpack.exchange/trade/XRP-PERP
Current Index Price: ~$2.80 (varies with market)

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Cross-Margin Collateral on Backpack

Backpack's cross-margin system fundamentally changes how traders manage collateral. Instead of locking funds into individual positions, your entire portfolio USDC, USDT, BTC, ETH, SOL—acts as a unified collateral pool supporting all your trades simultaneously.
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Why cross-margin matters for long positions:
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• Multiple assets work together to maintain your position
• Profits from other trades can prevent liquidation of your XRP long
• Hold diverse collateral while trading—no need to convert everything to USDC
• Your BTC and ETH collateral appreciate in value during bull markets
• All collateral earns lending yield even while backing your trades
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For instance, if you go long XRP with $2,000 USDC and 0.5 BTC as collateral, both assets support your position. If BTC rises 10% while you hold your XRP long, that additional value strengthens your margin, allowing you to weather temporary XRP pullbacks without liquidation.

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Step-by-Step Guide to Long XRP
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To begin, create and verify your Backpack Exchange account, then deposit collateral like USDC or USDT. Navigate to the futures section, select XRP-PERP, analyze market trends and support levels, then execute your long position with your preferred order type. Monitor your position's performance, manage risk with stop-losses, and close when you've reached your profit targets or need to adjust your strategy.
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Step 0: Understand Long Positions
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Going long on XRP-PERP means betting on price increases. Unlike spot purchases where you own actual XRP, perpetual futures let you gain leveraged exposure using collateral. Profits accumulate as XRP price rises above your entry point.

Step 1: Create and Verify Your Account

Visit Backpack Exchange on desktop or download our mobile app on iOS or Android and click Sign Up.
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• Enter your email address or mobile number and create a secure password.
• Verify your account by entering the 6-digit code sent to your email.
• Complete identity verification (KYC) for full access to perpetual markets.
• Once verified, you're ready to fund your account and start trading.
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Step 2: Fund Your Account
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• Click on "Deposit" in the upper right corner of your screen
• Select your funding method - USDC, USDT, BTC, ETH, or SOL can all serve as collateral
• For fiat deposits: Use wire transfer or debit card to purchase USDC directly
• For crypto deposits: Send funds to your provided deposit address
• Enable Auto-Lend to earn yield on your collateral - with hourly APY calculations, your deposits earn in real-time even while trading
  
  

Step 3: Navigate to XRP-PERP Market

• Click "Futures" in the top navigation menu to access perpetual markets
• Select "XRP-PERP" from the dropdown menu showing all available pairs
• The dashboard displays current price, 24H change (+2.87% in example), and volume
• Check the funding rate (0.0013%) - when positive, longs pay shorts every 8 hours

Step 4: Analyze the Market
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• Study the candlestick chart to identify support levels and upward momentum.
• Observe the order book depth - more buy orders (green) than sells suggests bullish pressure.
• Note the 24H range from $2.6979 to $2.8378 to gauge volatility.
• Look for price breaking above resistance levels as entry signals.

Step 5: Long XRP

• Click the green "Buy / Long" button on the right side of the trading interface.
• Choose between "Market" for instant entry or "Limit" to set your desired price.
• Input your position size in the "Quantity" field (denominated in XRP).
• Select leverage with the slider - remember higher leverage increases both profits and risks.
• Check "Margin Required" and "Est. Liquidation Price" before confirming.
• Click the green "Buy / Long" button to execute your position.
  
  

Step 6: Monitor Your Position

• Track your position in the panel below the chart, showing real-time unrealized PnL.
• Monitor the "Cross Margin Overview" displaying your margin utilization percentages.
• Watch funding payments - at 0.0013% positive rate, longs pay this fee every 8 hours.
• Your "Equity Total" reflects account value including open position profits.
  
  

Step 7: Close Your Position
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• Click your open position in the positions panel when ready to exit.
• Choose "Market Close" to exit immediately at current price.
• Or set a limit order to close at your target price automatically.
• Enable "TP/SL" to set take-profit and stop-loss levels for risk management.
  
  

Important Considerations When Going Long on XRP
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Understanding key risk factors helps you trade more effectively and protect your capital.
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Leverage Management: While 50x leverage maximizes profit potential, it equally amplifies losses. The interface shows 10x leverage where a 10% drop triggers liquidation. Start with lower leverage to learn.

Funding Costs: At 0.0013% positive funding, longs pay shorts three times daily. During extended positions, these costs accumulate and impact overall profitability.
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Support Levels: The 24H low at $2.6979 represents recent support. Setting stops below key support levels helps limit losses if the trend reverses.
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Position Sizing: The "Available Equity" shown ($5,225.87 in example) represents your total trading power. Never risk your entire balance on a single position.

Conclusion
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Backpack Exchange offers a comprehensive platform for trading XRP long positions through perpetual futures. The combination of up to 50x leverage, Interest Bearing Perpetuals that generate yield on collateral, and professional trading tools creates optimal conditions for capitalizing on XRP's upward movements. Whether you're day trading quick moves or holding longer-term positions, Backpack's deep liquidity and competitive fee structure support strategies of all sizes and timeframes.
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Learn more about Backpack
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Disclaimer: This content is presented to you on an "as is" basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Backpack is not liable for any losses you may incur. Leveraged trading involves significant risk of loss. This material should not be construed as financial, legal or other professional advice.