It’s good news for the XRP enthusiasts and crypto investors at large as the world’s 3rd largest cryptocurrency bags yet another listing on a crypto exchange. As everyone should already know by now, XRP has been quite a sensation within the crypto space of late. As a matter of fact, XRP has seen some good growth this month. The token has already scored a cool 10% monthly gain.
XRP: The Listing
The latest XRP listing is happening on COBINHOOD, a rather well-known crypto service platform that’s been known to charge zero transaction fees. That means that anyone who tops up their COBINHOOD account with cryptos gets to transact without incurring a cent in transaction fees. That’s where XRP is headed right now. COBINHOOD has already confirmed its decision to list and have XRP ready for trading on its crypto platform starting this Friday October 19, 2018. That should make some history.
After the listing, crypto traders and investors will be able to deposit, trade, or withdraw XRP on COBINHOOD. Trades associated with XRP will include XRP/USDT and XRP/BTC. Another crypto, called XEM, will also be listed on the platform, and its trades will run for XEM/USDT and XEM/BTC.
Besides the XRP listing, COBINHOOD will also be launching a margin trading service that will allow crypto traders to expand their current trading limit and also facilitate short selling. Margin trading works by providing funds to traders who then trade with it and pay back some interest on the amounts extended. Currently, the platform allows trades for ETH/USDT, COB/ETH, BTC/USDT, and ETH/BTC.
Could The Listing Trigger An XRP Market Event?
By now, it’s a fact that news of a crypto getting listed on a new exchange, or event rumors of it, has the potential to trigger a bullish sentiment in the token’s favor. Going by the recent events in XRP’s market triggered by such news as its adoption by the banks on Ripple’s RippleNet and the launch of blockchain-based products like xRapid, xCurrent, and XPring, it’s safe to say that the prospects of XRP experiencing some bullish trend right after the listing on COBINHOOD are pretty decent.
XRP has already been listed on a number of other large crypto exchanges including Kraken, Bitfinex, Huobi, Binance, OKEx, and Bitrex. At the moment, XRP is swinging around the $0.46 mark. Could the impending listing send the bulls charging? The odds look good, but time will tell.