XRP token relisted: As the dynamic world of cryptocurrencies continues to evolve, XRP, Ripple’s native token, is making substantial strides forward. Let’s dive into the latest buzz surrounding XRP. But will this new relisting news affect XRP prices positively? Not necessarily, let’s analyze.
XRP Token Relisted on BIT
In a move that has garnered considerable attention, BIT crypto exchange has announced the addition of XRP to its trading platform. This integration will pave the way for increased liquidity and accessibility for the coin, allowing traders and investors a wider array of options to purchase and transact with XRP.
Launched in 2020, the exchange offers a wide array of services including perpetual contracts, futures contracts, and options products for BTC, ETH, ADA, TON, and LADYS. XRP has become the sixth cryptocurrency to be available for options trading on the BIT platform. Referring to the significant July 13 verdict, which stated that XRP’s trading on exchanges doesn’t constitute securities, BIT exchange highlighted in a blog post that this decision is a significant stride for Ripple. This verdict has undeniably heightened the enthusiasm and interest in the XRP market.
Seizing the opportunity, the exchange introduced XRP options trading, reflecting the growing demand for the cryptocurrency. This development enhances XRP’s prominence, allowing users to trade its options without possessing the underlying asset.
Surge in XRP’s Trading Volume: A Closer Look
There’s been a whirlwind of activity around XRP lately, with a notable uptick in its trading volume. A massive inflow in trading volume has been observed, prompting speculation and closer analysis by market enthusiasts.
Whales Making Moves?
This considerable influx in trading volume begs the question: are the crypto-whales diving deeper into XRP? Whenever substantial financial movements like these are noted, it’s often attributed to the so-called ‘whales’ or large-scale investors. Their investment strategies and decisions can significantly influence market trends.
Will XRP price go up?
With its new listing and considerable trading volume, XRP seems to be on an upward trajectory. However, the current sentiment in the crypto market is bearish. Bitcoin crashed below the support of $29,000, bringing the entire crypto market lower. Despite some positive XRP news, XRP prices should continue to crash in the short-term.
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