Of recent, XRP has been having a good run culminating in a 10 percent monthly gain. The cryptocurrency has added another feather to its cap as it sets up to get listed on COBINHOOD.
COBINHOOD has confirmed that it will start listing XRP on its platform today. COBINHOOD is a platform that offers its users zero transaction fees on all trades. As such, traders using the platform will not incur any transaction fees when trading XRP. And after the platform lists XRP, investors and traders will be able to trade, deposit and withdraw Ripple XRP on the COBINHOOD’s transaction fee free platform.
XRP will be paired with stablecoin Tether USDT and bitcoin BTC. Also, COBINHOOD will start listing NEM today and the exchange will pair it with tether and bitcoin. The post also revealed that the platform is extending its services to include margin trading, short selling and margin funding.
”With Margin Trading and Funding, users can not only potentially maximize their crypto assets, but also tap into unused funds for greater value addedness. Be it a bullish or bearish market, be it that you are a high- or low-risk trader, our comprehensive margin features will always be your most reliable partner in your crypto world.” according to the medium post.
COBINHOOD will offer its users the margin trading services on three cryptocurrencies which include bitcoin BTC, COBINHOOD COB, and ethereum ETH. In addition, traders that are willing to fund margin trades can offer funds with four cryptocurrencies. These cryptocurrencies include BTC, ETH, COB, and USDT.
Will COBINHHOD’s XRP Listing Make an Impact on XRP’s Price?
The crypto sphere is aware that news of a cryptocurrency making it to a new exchange is capable of triggering a short-term rally in favor of the coin. And if we take a look at XRP’s price pattern when new developments are attributed to the crypto, it is safe to say that the XRP’s listing on COBINHOOD could trigger a bullish run. When news came out that more banks were joining Ripple’s RippleNet, the price of XRP experienced an upward movement. In addition, the launch of new products by Ripple labs like xRapid, xCurrent, and Xpring triggered also triggered a price surge.
As at press time, the price of XRP on Coinmarketcap is $0.453540 with a market cap of $18,140,525,908. The crypto is currently listed on some of the largest crypto exchanges like Kraken, Binance, Huobi, Bitrex, and Bitfinex.