XRP Records Over 5% Surge With Nasdaq Exchange Adding New XRP Index

By Tabassum
Published May 1, 2019 Updated May 1, 2019
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XRP Records Over 5% Surge With Nasdaq Exchange Adding New XRP Index

By Tabassum
Published May 1, 2019 Updated May 1, 2019

Ripple’s native token, XRP is one such cryptocurrency which is on hot bulletins every so often. However, at this time, the coin has surged more than 5 percent within the past 24 hours.

At the time of writing, XRP holds its third largest position in terms of market capitalization. The currency is finally crossing its $0.30 figure which was however lower than the present figure. As per the data provided by coinmarketcap, XRP has gained 5.21 percent which influenced its average trading volume$13,001,369,287.

XRP price chart
Source – coinmaketcap.com

Taking a closer look at XRP’s trading volume, there seems an infamous crypto exchange where XRP is being traded on high volume. As such, we can see ZBG, BW.com, ZB.com, RightBTC, FCoin, Fatbtc, OKEx, RightBTC and CoinTiger are the top exchanges, contributing a major trading volume to XRP, the third largest cryptocurrency. Nevertheless, the major contribution comes in pairs of XRP with USDT and BTC.

Source: Coinmarketcap.com

The rise of XRP volume is closely connected with latest XRP index addition announcement by Nasdaq stock exchange.

Nasdaq, an American stock exchange announced on April 30, that it is adding XRP index developed by Brave New Coin (BNC) to its Global Index Data Service (GID) on May 01, 2019. With successful addition of BLX (bitcoin liquidity Index), ELX (Ethereum Liquidity Index), BNC has finally made its XRP Liquidity index or XRPLX on Nasdaq’s Global Index Data services.

Also Read: Ripple [XRP] Price Analysis: Leads Crypto Recovery Ushering in A Bullish May 1

Following a couple of hours after the news broke, XRP has surged by about 4 percent and at press time, it gripped the higher volume of over 5 percent.

This seems to be more flattering update as Nasdaq is one of the largest stock exchange – since the attention caught by such players eventually influenced the value of respective coin during the particular period of time. Moreover, BNC’s XRP index on Nasdaq will bid the real-time XRP price information by sourcing data from the only more liquid exchange. To start, it is fetching data from Bitfinex, Poloniex, Bitstamp, and Kraken. Moreover, it will have Coinbase in its box in the near future.

What do you think about XRP’s latest gain of more than 5 percent.? Do you think it will gain even higher? Let us know in the comment below


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com

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