Most of the coins and digital altcoins have closed the month of July in generalized declines including Ripple (XRP). The USD XRP pair managed to cancel most of the gains accumulated since the early days of July.
As we open a new month, Ripple still shows signs of free fall below the $ 0.45 mark after declining support from the 23.6% Fiber level with the last swing it appreciated from the lows of $ 0.424 and depreciated from the highs of $ 0.5204 to stand at $ 0.4469 (it has just risen above 0.45 today after increasing the value of 4.5% in the last 24 hours) .
In addition, Ripple (XRP) is trading within the limits of a wedge model that falls signaling a surge in prices and short breakouts in the short term
Bitrue Ripple XRP exchange lists as base currency
The crypto space continues to attract more investors and players in its jurisdiction with this week marking the official launch of Bitrue. Although unknown to many, Bitrue is a virtual currency exchange that has long been ambitions to become the most spontaneous and safe option for crypto-investors globally.
Thanks to the support of #XRPCommunity . Bitrue proudly presents you #XRP trading market based on 10 trading pairs today! Stay tuned for the XRP reward program in the coming days. #xrpthesandard #xrpthebase pic.twitter.com/VgXVh3x2Ig
– Bitrue (@BitrueOfficial) 30 July 2018
An attribute makes predominantly the Taiwanese exchange out of the choir. Bitrue announced the intention to list XRP, Ripple's virtual currency, as a basic currency on its network. This move marks a huge adoption step for Ripple in the cryptography market.
Bitrue intends to offer transparency to the initial coin supply market (ICO) by making use of a qualified selection of ICOs. Surprisingly, Bitrue also shows interest in partnering with Wanchain, an infrastructure platform able to connect with various digital resources.
According to Bitrue CEO Curis Wang, the exchange can display interested applicants who only list legal and promising digital coins and altcoins on their platform. In this way, Bitrue will be able to create and develop a healthy trading environment and for anyone interested in engaging in the exchange.
DCEX announces Ripple XRP as base currency on its platform
Meanwhile, DCEX was the first virtual currency exchange that used Ripple (XRP) as the base currency. He recently opened the recordings to start his network. DCEX intends to start trading in the coming weeks if not in days, according to a press release that was released on Monday.
DCEX plans to offer 15 digital tokens for trading with XRP as a base pair. Digital tokens include Litecoin (LTC), Bitcoin (BTC), Tron (TRX), Bitcoin Cash (BCH) and Ethereum (EOS) among other digital currencies.
According to an official version of the DCEX web page, the exchange intends to add other exchange pairs in the next week with USD / XRP trading could be supported for institutional or corporate clients.
xRapid Adoption in the market
Recently, xRapid has seen a rather positive response to adoption. XRapid can complete international agreements within a short period using XRP as a bridge currency. For example, in a transaction from KRW to USD, KRW is converted into XRP using a Korean exchange via banking systems, transferred to the Ripple register (XRP) on an American exchange portfolio and subsequently converted to USD.
There are market speculations making rounds that suggest that SBI holding could use xRapid in conducting cross-border transactions. There is evidence to suggest that this merger is true and may be nearing completion.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our complete disclaimer
Image courtesy of Maxpixel.net