Atlantis Exchange announced the inclusion of Ripple’s XRP in its digital currency portfolio, with trading of the USDB/XRP pair commencing on March 17. The platform initiated XRP deposit services on March 13, paving the way for traders to engage with the cryptocurrency.
Integration Progress and Deposit Method
Currently, Atlantis Exchange facilitates XRP deposits solely through the BNB Chain (BEP20), signaling ongoing efforts towards direct integration with the XRP Ledger (XRPL). This distinction is crucial for users, particularly those interested in leveraging the unique benefits and features of XRPL.
XRP withdrawals are scheduled to become available from March 20 onwards, allowing traders ample time to engage in transactions before the withdrawal feature is enabled. The exchange has set a trading charge of 0.2% for XRP transactions, aligning with prevailing industry standards.
Related article: XRP’s Path to $2.50: Navigating Regulatory Challenges and Global Expansion
In a bold move, Atlantis Exchange speculated that listing XRP could potentially elevate its value by a factor of 100, leveraging the speculative nature of cryptocurrency markets to attract traders’ attention. However, investors are strongly advised to exercise caution, conduct thorough due diligence, and approach such predictions with prudence.
XRP’s Utility and Market Position
XRP, the primary cryptocurrency of the XRPL, garners praise for its efficiency in facilitating cross-border transactions. Its rapid transaction processing, typically completed within 3-5 seconds, positions it as an attractive option for global financial settlements.
Related article: Expert Projection: XRP’s Potential Surge
With registrations with the United Nations and the U.S. Department of the Treasury, Atlantis Exchange underscores its credibility and aims to disrupt the global trading landscape while establishing itself as a reputable entity in the FinTech sector.
Despite its aspirations, Atlantis Exchange faces scrutiny regarding its reliability and integrity, particularly stemming from reported issues with token withdrawals. These concerns have slightly tarnished the platform’s reputation, prompting potential users to exercise caution.
XRP’s legal status in the United States has been significantly influenced by a court ruling against the Securities and Exchange Commission (SEC), reinforcing its classification as a non-security. Additionally, the European Corporate Governance Institute has validated XRP’s non-security classification.
Institutional Interest and ETF Speculation
The court ruling has spurred increased institutional interest in XRP, fueling rumors surrounding the potential launch of Exchange-Traded Funds (ETFs) centered on the cryptocurrency.
As of the latest update, XRP has experienced a marginal 1.04% decline in the past 24 hours, reaching a price of $0.6091. However, over the past seven days, it has recorded a 3.03% increase in value.
The inclusion of XRP on Atlantis Exchange marks a significant development in the cryptocurrency landscape, offering traders new opportunities while prompting cautious optimism amidst regulatory and market considerations. Investors are advised to stay informed, exercise prudence, and monitor developments closely.
