Can Bittrex Trading Options in USD Revive Ripple & # 39; s XRP

Bittrex has finally entered the legal sub-industry of cryptographic exchanges, recently introducing a plan to distribute pairs of US dollars to thousands of users.

Welcome XRP and Ethereum Classic to the Bittrex Fiat-To-Crypto range [19659003] On Wednesday morning, the Seattle Bittrex Exchange announced that it would launch two new trading pairs on August 20th. This announcement comes in the middle of the exchange plan to finally offer fiat support, which many have seen for a long time become one of the leading platforms in this rapidly growing space.

Preparations – we are adding other US dollar markets (USD) on @BittrexExchange . On August 20, we are launching USD (fiat) markets for ETCs and XRPs. https://t.co/UVlW4g2B1h

– Bittrex (@BittrexExchange) 8 August 2018

As for a blog post, Bittrex will add Ethereum Classic and fiat XRP support, with these two additions joining the exclusive crypto-roster supported by fiat, which currently consists of BTC, ETH, USDT and TUSD.

This release remains in line with the so-called "phased approach" of Bittrex, while the exchange adds trading pairs in time, instead of an "all or nothing" approach. The company added that this procedure reduces stress on employees and exchange servers, ensuring that any risk of mishap is mitigated. By publishing information on the step-by-step approach, the Bittrex communication team wrote:

"While we dream big, we also plan wisely, which is why we will continue to use a gradual approach to trading in USD. these markets, processes and systems through a measured approach before opening it to all qualified customers … Our step-by-step approach not only allows us to stress our systems, but also ensures that we have time to properly evaluate which tokens they should be added to our markets in USD and when. "

A Lifeline for XRP?

While the addition of Bittrex to an XRP / USD trading pair seems trivial at first glance, many have been taken by surprise by this move, as remains to be seen if XRP is eye security of US regulatory bodies. With this addition, Bittrex will become one of the first US cryptographic exchanges to support XRP-to-fiat trading, beating Coinbase and Gemini to punch. The XRP needs a life line that crashed 90% from its ATH in January, this could prove. XRP is currently trading at $ 0.342, a new 2018 low.

At present, not all users will be able to use Biatrex's fiat features, with only customers "residing in eligible states and qualified international regions. "and who hold the Requirements required for the documentaries are allowed to take advantage of Bittrex Fiat.

Ethereum Classic supporters find refuge in this bear market

While the market does not seem too healthy, Ethereum Classic (ETC) has continued to be the "talk about the city" in the cryptocurrency circles . This is the result of Robinhood and Coinbase who have introduced the integration of ETC trading in the last week. Many saw these two lists as a bullish signal for the price of the asset, but the series of positive developments had no initial impact on the price of the asset.

So, for now, it seems that supporters of Ethereum Classic will have to take the brunt of stormy market conditions.

 Close-up image of Shutterstock