XRP Debuts on New Exchange After Massive Price Drop
XRP, the cryptocurrency associated with Ripple, has been listed on MetalX.com, a rebranded version of the Proton DEX exchange.
This comes after XRP recently experienced a significant price drop. Despite this downtrend, the listing indicates a level of market confidence in XRP's potential and offers a new trading avenue for existing and potential investors.
Embracing XRP
MetalX.com represents a substantial evolution from its previous incarnation, Proton DEX, not merely functioning as a decentralized exchange but aspiring to be a full-fledged financial ecosystem.
The platform boasts an array of features designed to bridge the divide between security and accessibility, including zero gas fees, instant transactions and robust on-chain identity verification.
Alex DovbnyaXRP's price woes
XRP's price has recently retraced the gains it made following the SEC v. Ripple case, currently hovering at $0.47, with a market cap of $25.1 billion.
Financial analysts like Benjamin Cowen note that "narratives do not drive the market, liquidity does."
After initially spiking to above $0.80 in July — thanks to being relisted on major exchanges like Coinbase — the cryptocurrency has struggled to maintain its upward trajectory.
However, its 24-hour trading volume of over $1.15 billion suggests that there remains a considerable level of interest in XRP despite its recent setbacks.
Arman Shirinyan
Dan Burgin
Vladislav Sopov