Leading cryptocurrency derivatives exchange BitMEX announced the listing of XRP for spot trading, allowing users to buy and sell XRP directly at market price. This comes despite a recent plunge in XRP prices, which are down over 15% in the last week.
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Ready for this?
Tomorrow, two new tokens are coming to BitMEX Spot:
➡️ $XRP (@Ripple)
➡️ $ATOM (@cosmos)Details? https://t.co/B8keHFDcCz pic.twitter.com/hmwHTECksq
— BitMEX (@BitMEX) March 19, 2024
Key Points:
- BitMEX users can now trade XRP against Tether (USDT) on the spot market.
- Fee-free conversion of XRP to over 30 other cryptocurrencies is also available.
- XRP deposits and withdrawals are supported.
- Cosmos (ATOM) was also listed for spot trading on BitMEX with similar functionalities.
- The news did not immediately impact the XRP price, which is currently down 1.71%.
Prior XRP Support on BitMEX
While this is the first time XRP is available for spot trading on BitMEX, the exchange previously offered XRP perpetual swaps since February 2020.
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XRP Price Performance
The listing announcement comes amidst a broader market downturn, with XRP prices significantly down from a high of $0.73 on March 11th. Despite the recent slump, XRP is still up over 6% every month.
Is it called Ripple, XRP, or dogshit? Who knows, who cares. It’s worth more than zero so it’s time to trade the USD pair on BitMEX. Boo-Yaka-sha! https://t.co/pa3T5vd5kl
— Arthur Hayes (@CryptoHayes) February 4, 2020