With Ripple’s XRP posting significant gains today, things could be looking up. XRP just scored a new listing on top-50 cryptocurrency exchange WhiteBIT paired with BTC and USDT.
Things Looking Up for XRP?
Ripple’s XRP suffered a catastrophic 2019 as the worst-performing of the top 10 coins last year, finishing the year at less than 20 cents a coin. But, in 2020, XRP seems to have followed the trend of most major coins.
It started out recovering slowly, then gaining momentum before suffering the extreme market volatility in March. Now, at still just below 30 cents, XRP is looking promising with an 8.49% gain over the last 24 hours.
What’s driving XRP’s recovery? Well, likely several factors, but a new exchange listing will certainly be helping. This weekend, WhiteBIT exchange released the announcement that XRP would be joining its exchange.
— WhiteBIT (@WhiteBit6) April 4, 2020
Launched in Dec 2018, WhiteBIT has a solid European base. It offers low trading fees at 0.1% and both crypto to crypto and crypto to fiat transactions. It also holds required European Exchange and Custody licenses, and allegedly meets all KYC and AML requirements.
Traders on this exchange can enjoy instant transactions, have the possibility of staking USDT while making up to 9% interest. The exchange also offers a number of trading tools and additional features. WhiteBIT also has margin trading listing as “coming soon” and with the popularity of XRP futures, this could bring in more customers.
RippleNet Tech Continues to Make Waves
Despite fears of central bank digital currencies threatening Ripple’s payment technology, Ripple Labs continues to find new use cases for its RippleNet technology.
With more than 300 partners including Money Gram, American Express, and Santander bank, RippleNet has been gaining traction.
It has recently added the Southeast Asian market to its growing list signing partnerships with major remittance institutions in Thailand.
Lawsuits and controversial dumping issues aside, a new listing is a bullish sign for XRP which will hopefully see a better performance in 2020.
What do you think is driving the XRP market today? Let us know in the comments below!
Images via Shutterstock, Twitter @WhiteBit6