In a somewhat surprising turn of events, more good news is coming Ripple’s way. Plus500, a global leader in online trading platforms, has enabled XRP trading. More specifically, platform users can short or long XRP from now on. The platform already supported other cryptocurrencies before this addition. It is good to see XRP got added to the list. This shows there is a lot more focus on this asset than most people give it credit for.
Plus500 Adds XRP Without Much Fanfare
It has to be said, the addition of XRP to this platform has not received any media coverage. In fact, it does not appear Plus500 wants to make a big deal out of it, for some reason. The trading platform allows speculators to short or long Bitcoin, Litecoin, and Ethereum. XRP Is only the fourth currency to be added to this brief list. It will be interesting to see how big of a demand there is for this new addition. Do keep in mind people are not buying or selling XRP directly through this platform. Plus500 uses Contracts for Difference trading, which is an entirely different ball game.
This news comes as a bit of a surprise, to say the least. Many people feel Ripple’s asset should not be on the same level as the popular cryptocurrencies. Then again, this native asset is perhaps one of the only ones with a clear-cut use case. Additionally, XRP is being adopted by financial institutions all over the world, even though it is at a rather slow pace. Right now, most banks like Ripple’s technology, but are not willing to use the native asset just yet.
Thanks to this addition, Ripple will get a lot more mainstream exposure. It is also evident this could create a whole new level of price volatility for XRP moving forward. That would be far from an ideal situation, though. If institutions are to embrace this asset, the last they want is volatile value swings. XRP Has been kept somewhat level these past few weeks, but there is still a lot of speculation going on right now.
In the end, it is good to see Plus500 venture into the world of cryptocurrencies and assets. The addition of Ripple’s asset is quite intriguing, to say the least. It may produce more mainstream attention for the technology and the asset. Moreover, Plus500 is a company authorized by the UK Financial Conduct Authority. This is not your average shady trading platform trying to capitalize on the XRP hype.
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