XRP and Bitcoin Cash Have Been Listed For Trading By Foreign Crypto Exchange, FXCM Group, What Does It Mean For The Price of The Coins?

According to recent reports in the crypto sphere, it is clear that renowned foreign crypto exchange, FXCM Group has announced that it will be adding XRP and Bitcoin Cash SV for trading on its platform. Could this be a new avenue for the price of XRP and Bitcoin Cash SV price to get a boost?

A globally recognized provider of foreign exchange trading, CFD trading, Bitcoin (BTC) trading and trades related to the listed services, FXMB Group has recently announced the addition of XRP and Bitcoin Cash SV in its quest to widen its cryptocurrency reach.

FXCM’s Decision is Expected to Leave a Noticeable Impact on the Price of XRP and Bitcoin Cash SV Price

Understandably, this latest development with boost the price of both digital assets. FXCM latest addition of XRP and Bitcoin Cash for trading is expected to leave a noticeable and positive impact for the price of digital currencies. It is going to expand the global outreach crypto.

The customers of FXCM Group will be open to optional incentives as they trade the digital currencies as CFDs. Note that there won’t be a delay of any form in sending trader earnings into accounts or there would be no need for a cold storage or crypto wallet.

Customers Will Input Trades With Micronized CFD Contracts

Customers will have the opportunity to input trades in part with micronized CFD contracts, which will reduce the minimum space required to enter any position in the process.

The FXCM Group has been looking to include more cryptos on its list since the year 2018 (when it successfully launched crypto CFDs). The goal is to satisfy clients who are yearning for diversification.

Brendan Callan who serves as the CEO of FXCM Group, when reacting to his company’s decision to add XRP and BCH for trading on its platform, said they yielded to their client’s demands. According to him, the company made the improvement based on what users want.

Callan made these remarks:

Having launched three different cryptocurrencies successfully in the last 12 months, our users are asking us to make improvements regarding the type of crypto CFDs they will have access to.”

Callan also added that the decision to include Ripple’s XRP and BCH speaks a lot about FXCM’s preplanned way of expanding their business reach in the crypto sphere.

In his words:

The decision to add cryptos like Bitcoin Cash and XRP marks the most recent stage of growth shown by FXCM’s burgeoning crypto offering and is a response to the issue of increased demand from clients.”

The Performance of the Price of XRP and Bitcoin Cash SV Price in the Last 24 Hours

The majority of the cryptos that make up the market are currently experiencing minor drops. Generally, the top four digital currencies have continued to face a drastic price drop since the price of Bitcoin shedded about $1000 in only a few hours.

As of press time according to CoinMarketCap, the price of XRP is trading at $0.377. This position is below what the digital asset attained 24 hours earlier. While the price of Bitcoin Cash dropped by 9% of in the past 24 hours.

The addition of XRP and BCH for trading by FXMB Group has been regarded as an added benefit for the two digital currencies. The move will also benefit the crypto sphere at large as well.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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