Getting listed on an exchange trading platform is a good thing for a coin. However, not all exchanges are created equal. Some are popular than others. The more popular the exchange is, the better the adoption of the coin.
XRP has been making waves all over the industry for a while and it’s not just doing well in terms of partnerships and endorsements. This month alone, XRP has grown by 10%. XRP is about to start another bull run that will be fueled by Cobinhood’s listing.
XRP (XRP) Price Today – XRP / USD
Cobinhood is one of the most popular cryptocurrency exchanges in the world. It is important to note that this platform offers users services without fee. Low and zero transaction fees can be significant factors that determines how the market reacts to a coin and how many people decide to use an exchange. You can add cryptocurrencies to your Cobinhood wallet without paying any fee for the transaction.
The platform has already announced that it has decided to list XRP. In fact, from today, users will be able to trade XRP on Cobinhood. Traders will soon be able to trade, make deposits and withdraw on the platform. XRP will be paired with USDT and BTC.
Cobinhood To Launch Margin Trading Service
Listing XRP isn’t the only thing Cobinhood will be doing today, the platform will also launch an option for margin trading which allows traders to increase their limits and activate short selling. It offers traders who lack funds the funds they require to trade like a loan. The traders will have to pay back with interest when it’s time. Margin trading is available for BTC/USDT, ETH/USDT, ETH/BTC,COB/ETH.
Back to XRP. It’s not unusual for a listing to ignite a bull run for a cryptocurrency. However, things may be a little more complicated now since the general market isn’t at its best. However, the fact that Cobinhood is willing to list XRP shows that the exchange recognizes the potential of the cryptocurrency.
XRP got a moderate boost recently when it launched RippleNet. When the xRapid, XPring, and xCurrent protocols were launched, XRP also got a boost. Apart from Cobinhood, XRP is listed on other leading exchanges like Bitrex, Kraken, Huobi, Bitfinex, and OKEx.
XRP (XRP) Price Analysis
Unfortunately, XRP is still trading in red against the USD and against Bitcoin. The listing on Cobinhood hasn’t done anything to boost the price of the token. At the time of writing, XRP was trading at $0.454270. This shows that it is down by 2.51% against the USD and down by 1.86% against Bitcoin. Before the end of trading today, XRP will be available for trading on Cobinhood. Hopefully, the announcement will help push the price in favor of the bulls.