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BitMEX Lists XRP for Spot Trading Amid Major Price Decline

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Tue, 19/03/2024 - 15:55
BitMEX Lists XRP for Spot Trading Amid Major Price Decline
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In a recent blog post, BitMEX exchange has announced the approaching listing of new XRP and Cosmos (ATOM) spot pairs this week.

BitMEX to commence XRP and ATOP spot trading 

The article states that on March 20, at 4:00 a.m. UTC, these popular cryptocurrencies will kick off on BitMEX spot, and users will be able to convert, deposit and trade them on the platform.

Both XRP and ATOM will be spot-traded against the USDT stablecoin via the open order book. Users will be able to make XRP and ATOM deposits and withdrawals using their BitMEX Wallet and convert these digital currencies, along with more than 30 others, including Bitcoin, Ethereum, Cardano and Doge.

Four years ago, XRP was added by the aforementioned exchange for trading with 50x leverage against USD.

As announced earlier, on March 12, BitMEX launched XRP/BTC futures contracts XRPM24, with June 28, 2024, as a settlement date. On Feb. 20, the XRPH24 futures contract for the same pair was launched, and it is to be settled on March 29 – 10 days from now.

Related

24.6 million XRP sent to Bitstamp as price plunges

According to data shared by popular cryptocurrency tracker Whale Alert, within the last 24 hours, a major XRP transaction was spotted by its bots as an anonymous whale transferred nearly 30 million XRP to the Bitstamp exchange.

The amount of 24,600,000 XRP has been shoveled in total, which is the equivalent of $14,849,775. Since the transaction was made by an unknown blockchain address, the community in the comments thread started speculating about the nature of the transaction and who might have initiated it.

However, XRP-centered explorer Bithomp revealed that this enormous transaction was made by a wallet linked to Ripple Labs. Two options are possible here. The first is that Ripple cryptocurrency decacorn sent a hefty XRP chunk to sell it via Bitstamp. The second one is not about selling but about supporting Ripple’s blockchain-based system of transnational payments.

Today, on March 19, the eighth largest cryptocurrency, XRP, has staged a substantial price decline of more than 11%, dropping from $0.66829 to the $0.59113 price mark. The sharp decline took place after XRP completed the golden cross pattern seen in 2024. Contrary to bullish expectations, the coin began to reverse.

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