While XRP has lost about 25 percent of its value this month, its liquidity is rising as Brazilian digital asset company with over 1 million customers adds XRP to its limited list of cryptos. With XRP trading below $0.50 level, it can extend its losses but Sibos event just might bring a change of momentum.
Mercado Bitcoin adds XRP to its over 1 million customer market
XRP liquidity keeps on rising as exchanges from all over the globe are adding the world’s 3rd largest cryptocurrency. The latest one is Mercado Bitcoin that caters to Brazil and Latin American market. As per the rough translation, the digital asset company announced on Twitter,
“Already have XRP? Transfer now to the Bitcoin Market and participate in the opening of the market. You will soon be able to trade on our platform.”
Já tem XRP? Transfira agora para o Mercado Bitcoin e participe da abertura do mercado. Em breve você poderá negociar em nossa plataforma.
— Mercado Bitcoin (@MercadoBitcoin) October 9, 2018
In order to buy the cryptocurrencies, the process requires you to first create an account. It requires you to have a balance in Reais for which you have to got to deposit page to get credit in your account. The website mentions zero rate for deposit. Then, select the digital asset and buy the cryptocurrency.
The crypto exchange has only a limited number of cryptocurrencies listed on its platform viz. Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and now XRP.
With over 1 million customers, this is another progressive step for XRP that adds to its liquidity and further to its global presence.
XRP trading below the critical $0.50 level
At the time of writing, XRP has been trading at $0.4727 while being down by close to 2 percent in the past 24-hours. Today’s trading range has been between $0.4623 and $0.4818. With a market cap of $18.7 billion, it has been managing the daily trading volume of $441 million.
Just last month, XRP price took a surgeon the anticipation of the launch of xRapid reaching about $0.70. Since this month has started, the digital asset has been on a downward spiral. From $0.6306 on September 30 to today’s $0.4727, it has lost 25 percent of its value.
Now the question that arises is if XRP will wipe out all the September gains? The XRP/USD pair is at a risk of losing more of its value as it is below $0.50 mark. However, Swift’s upcoming Sibos 2018 event could be a silver lining for XRP where Ripple is exhibiting RippleNet and enthusiasts and investors alike are expecting Ripple to make some big announcement.
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.