Crypto Exchange Coinsquare Enlists Ripple’s XRP Coin For Trading, Still in Beta
XRP Is Listed In Beta On Canada’s Premier Cryptocurrency Exchange, Coinsquare
This Tuesday, XRP’s price continued to rise in a bearish market after news of the coin trades going live on Coinsquare. With a statement released to its followers, Coinsquare stated that the trading of the coin will be in beta mode and no withdrawals will be allowed. This came a day before XRP’s biggest holder, Ripple Inc. announced Bill Clinton, the 42nd president of the United States as a keynote speaker at Swell with Ripple.
Coinsquare Lists XRP In Beta
The Canadian-based exchange is currently trading Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dash (DASH) and Dogecoin (DOGE) making XRP only the sixth coin to gain listing. This comes a day after the premier cryptocurrency exchange in Canada launched the Coin Capital Investment Management Inc. (Coincapital).
The CEO of Coincapital, Lewis Bateman has had a strong stance in the growing the company in the technological field hence the strong push in blockchain and the associated cryptocurrencies. The listing to one of the largest exchanges in the cryptocurrency arena will help XRP boost towards the dollar mark soon.
“There is a strong appetite for investors to access growth in the technology sector, but not enough specialized or niche offerings available to them,”
The cryptocurrency exchange will accept BTC, ETH or Canadian dollars to trade for XRP. Coinsquare also allows investors to fund their accounts with XRP which can be traded with fiat or other cryptocurrencies. Coinsquare currently handles a total of $10 million USD worth of trades in a day.
The listing serves as a step forward to the coin that has had a terrible run in since the start of the year. The coin saw its price rise to highs of $4.50 USD on some exchanges late last year but saw its price drop to less than a tenth of the price in mid-July. The close relationship between Ripple Inc. and XRP has also played a big factor in seeing the price form a support level at $0.45.
Coinsquare aims to see its assets diversified in the future technologies, hence the launch of the Coincapital division. With the exchange having a partnership with STOXX, an index provider to Deutsche Boerse Group, to create an index focusing on blockchain technologies and cryptocurrencies we may well see XRP indices soon. XRP on its part is set to be introduced to a new market in Canada.
Bill Clinton To Be Keynote Speaker At Swell With Ripple
This week, Ripple Inc. sent out a tweet announcing Bill Clinton as the main keynote speaker in their annual Swell with Ripple conference on October 1 and October 2 this year. Having such a high profile speaker at the event will without doubt have a huge impact in pulling institutional investors and businesses towards understanding Ripple technologies. With xCurrent and xVia already heavily adopted by financial institutions, Swell with Ripple will have a huge impact in the price XRP through increased adoption.
In conclusion, XRP gaining listing on Canada’s premier exchange and the announcement of Bill Clinton’s speech at a Ripple conference in October will push the price of XRP in a bullish trend in the final quarter of the year. Watch out for XRP as it may well repeat its feat of 2017 and cross the $5 mark by the end of 2018.