XRP/CAD: what to know
The XRP/CAD rate shows how much CAD you get for 1 XRP. Right now, 1 XRP buys 1.8825 CAD at the mid-market rate. In the other direction, 1 CAD is worth 0.5312 XRP.
In the short term XRP is driven mainly by crypto-market sentiment and regulation, while CAD responds to oil prices and the US economy.
XRP is designed for fast, low-cost payments and cross-border settlement. The Canadian Dollar (CAD) is issued by Bank of Canada. The C$1 coin is the “loonie” (after the loon bird) and the C$2 is the “toonie”.
Over the past 12 months the XRP/CAD rate has ranged between 1.3769 and 4.2523 — a change of -55.94% versus a year ago.
Because this pair involves a cryptocurrency, expect much higher volatility than typical fiat pairs. Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.