31.5 C
Monday, May 27, 2024
HomeAltcoin NewsPolish FX Broker X-Trade Brokers Will Add XRP/USD Trading Soon

Polish FX Broker X-Trade Brokers Will Add XRP/USD Trading Soon


Related stories

It looks as if Ripple is on the radar of a lot of forex brokers these days. X-Trade Brokers, also known as XTB, will soon add new trading markets to their platform. In doing so, they will add Bitcoin, Ether, XRP, Litecoin, and Dash trading against the US Dollar. That is quite a significant development for all of these currencies and assets. It will be quite interesting to see how this affects the market caps of all these new additions.

Over the past few months, we have seen multiple platforms and exchanges enable XRP trading. Although the cryptocurrency community has no love lost for Ripple’s asset, it is quite a powerful tool, to say the least. Now that X-Trade Brokers will add XRP trading against the US Dollar as well, things will get quite interesting. Other currencies to be supported include Bitcoin, Ether, Litecoin, and Dash. All of these additions are well worth taking into account, to say the least.

X-Trade Brokers Pays Attention to Ripple

With Bitcoin and Ethereum dominating the market, these choices are only to be expected. However, XRP is still the third-ranked digital asset on Coinmarketcap. It is impossible to not add it these days, regardless of how some people may feel about it. The only odd one in the list is Dash, as it is not even close to being in the top 5 of cryptocurrencies and digital assets. Choosing Ethereum Classic or NEM would have made a lot more sense for X-Trade Brokers in this regard.

It is evident a lot of forex brokers are focusing on XRP right now. Many people feel there is a growing interest in this native asset. Although it will not necessarily be used by consumers directly, it has a lot of potential for speculators. Then again, XRP is designed to be resistant to market volatility. That is rather difficult with multiple platforms trading the asset. Then again, more liquidity can also work in an asset’s favor.

One thing to take note of is how the circulating XRP supply has declined a bit. It looks like 400 million has been taken off the market. It is unclear if this is a buyback by the Ripple team, or a glitch on the Coinmarketcap website. If the supply has effectively been reduced, though, things will look a lot better for XRP moving forward. With the supply lockup occurring later this year, things can get very interesting over the coming months.

Header image courtesy of Shutterstock

JP Buntinx
JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.


Latest stories