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Sunday, July 21, 2024

Ripple (XRP) Receives Support From This Leading Crypto Exchange: Details

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  • XRP keeps gaining support from notable exchanges.
  • The asset’s price has slightly increased in the past 24 hours, contrasting with the broader market correction.

XRP’s price might be down 15% on a weekly scale, but interest in the asset remains high. Most recently, it received backing from a leading cryptocurrency exchange, an effort that could improve its liquidity and accessibility and potentially have a positive impact on its valuation.

The company in question is one of the veterans in the industry – BitMEX. It announced on X that users can deposit, convert, and trade XRP on BitMEX Spot, describing the XRP Ledger as “a faster, more energy-efficient alternative to the Bitcoin blockchain.”

In addition to XRP, the firm enabled trading services with Cosmos (ATOM). Both assets are slightly in the green for the day, defying the ongoing market decline. XRP is inching toward the $0.60 level or a 2.5% increase for the past 24 hours.

XRP Price, Source: CoinGecko

Recall that the global market capitalization shed by over $400 billion after reaching over $2.9 trillion a week ago. Bitcoin’s price plunged below the $61 mark for the first time since the beginning of March.

BitMEX is not the only crypto exchange that has embraced XRP lately. Earlier this week, the US-based Atlantis Exchange opened trading services with the asset, claiming it has the potential for huge returns.

Other leading companies that have enabled XRP-related offerings ever since Ripple’s first partial court victory against the US SEC include Gemini, Coinbase, Kraken, Bitstamp, Crypto.com, and more.

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