Crypto investors now have another way to trade with the added possibility of trading XRP options on the BIT Exchange. Investors are able to gain exposure to the digital asset, leading to increased liquidity and more trading options.
Ripple’s (XRP) crash has many questioning what caused it. Here we have two potential reasons: market volatility and increased competition. To find out more, keep reading.
BIT Exchange has announced the introduction of XRP options trading, citing growing market interest in the cryptocurrency. This move follows a successful period of XRP trading on the exchange, and provides investors with greater flexibility in their activity.
XRP, the world’s fourth largest cryptocurrency, is quickly gaining traction due to its low fees and fast transaction times. Analysts predict XRP could soon surpass Bitcoin, Ethereum, and Cardano in becoming the leading payment cryptocurrency.
XRP, the cryptocurrency with the third-largest market value, briefly reached a market capitalization over $1 trillion on Gemini, an American-based cryptocurrency exchange, on Tuesday April 6th.
Experts believe an XRP ETF is possible, but it is still subject to the same regulatory challenges that have hindered all cryptocurrency-based ETF proposals so far.
Flare CEO Hugo Philion recently discussed XRP’s regulatory challenges and how it has stalled Ripple’s growth. “Ripple’s legal team is working hard to address XRP’s legal issues,” Philion said, “which has significantly affected the company’s ability to move forward.
XRP faces short-term volatility, but can rely on key support levels to bounce. It is holding the $0.18 level, while the $0.16 area is likely to be the biggest level of support if the price drops any further.
XRP has come a long way since its 2019 low of $0.242, but it still has a long way to go to reach its all-time high of $3.4. What would it take for XRP to reach $0.9? Examining Ripple’s fundamentals and market sentiment should give us an idea.
Dogecoin surged over 9% Monday after Tesla CEO Elon Musk tweeted several messages that appear to link the memecoin to a rival cryptocurrency, XRP. Musk’s cryptic tweets left many speculating about potential partnerships, partnerships that could send DOGE to new heights.