Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
XRP perpetual contracts have seen a new listing on one of the world's oldest crypto exchanges, Poloniex. In a tweet, Poloniex announced the listing of a USDT-margined XRP perpetual contract.
As stated in its official announcement, Poloniex Futures will launch the USDT-margined XRP perpetual contract on Nov. 9, 2023, at 10:00 a.m. (UTC).
The USDT-margined perpetual contract, XRP/USDT, will offer leverage of 1x to 20x and will be supported in cross-margin/isolated-margin modes.
Last month, top U.S. crypto exchange Coinbase announced the arrival of perpetual futures, including XRP, for Coinbase advanced customers in eligible non-U.S. jurisdictions.
Tomiwabold OlajideXRP has continued to gain new listings after achieving regulatory clarity in a landmark July ruling in the Ripple lawsuit that determined that XRP sold on crypto exchanges were not securities.
XRP price action
The XRP price started a major rally from the $0.47 level in October. Consequently, the bulls pumped the price above the $0.50 and $0.63 resistance levels. XRP surged shortly, in line with the emergence of a bullish golden cross on its daily charts.
On Nov. 6, XRP broke beyond the $0.67 resistance, but the bulls were unable to break through the next barrier at $0.74. At the time of writing, XRP was experiencing profit-taking, falling 0.85% in the last 24 hours to $0.684.
Despite the present profit-taking, it appears that lower levels continue to attract buyers.
If the price of XRP remains above $0.63, the chances of a retest of $0.74 advance as well. Above this level, XRP might reach $0.85 and ultimately $1.
If the price falls below $0.63, it would indicate that the bullish impetus might have diminished, and XRP may fall to $0.60.
Arman Shirinyan
Alex Dovbnya
Dan Burgin