OKEx has announced via Twitter that the cryptographic exchange will not start offering two new trading pairs that will be open for margin trading. The pairs are Bitcoin / Ripple & # 39; s XRP (BTC / XRP) e Bitcoin / litecoin (BTC / LTC). Trading begins today for users on November 6th at 7:00 UTC.
In case you are not familiar with margin trading, this type of trading is not performed with client resources. They put purchase and sales orders using the loans of the intermediaries or of the purchase certificates that increase the investor's purchasing power.
NEW COUPLES OF MARGIN TRADING: To meet the demand of the public, we will open the exchange pairs of the XRP / BTC and LTC / BTC margins from 08:00 on 6 November 2018 (CET).#OKExAnnouncementhttps://t.co/dVvGvRZXZb
– OKEx (@OKEx) 6 November 2018
The company has quickly stated that the trade margin can lead to higher profits but also greater risks, so people should be very cautious in considering their options before starting to use these new margin trading options because they could end up losing too many money.
XRP begins with a small bullish sentiment
The announcement was made at a good time to invest in the Ripple token. The XRP has been somewhat bullish in recent days and today has risen by 13%. The main reasons for this short run are that xRapid, the main tool used by Ripple for the remittance of money, was becoming more efficient and more widely adopted in the sector.
SendFriend, closely associated with MIT, and the SBI Group will soon start using Ripple's services, so the bullish run could happen due to this change in the industry. In addition, XRP is used for a project of the R3 consortium as announced by its CEO Yoshitaka Kitao.
In fact, the whole market is going up. The market reached $ 215 billion, the largest in a long period, with Bitcoin trading of over $ 6,400 USD, not a great value, but more than it was recently, anyway. Ethereum has also kept most of its price despite being still at a low level.
With the fall of Ethereum in recent months, Ripple aims to take second place outside of ETH and there is a small but real change that this could happen in the future, since ETH is alone $ 600,000 USD in the market.
Stellar and Cardano are seeing small gains but they are still standing while Tron and Zcash are more stable. WAX is another token that is doing well with a 9% gain, while MaidSafeCoin is 6% higher and the biggest losers are Polymath which is down by almost 8% and Ravencoin and Chainlink, both down 6 %.
At the time of this report, a single XRP was worth $ 0.53 USD and the token had a market capitalization of $ 21.5 billion.