What’s Holding Back XRP Price? Would TD Ameritrade Support Help The Third Largest Crypto?
According to TD Ameritrade’s last tweet, the online brokerage giant may add support for the low-priced XRP.
Thank you for your interest! Currently, we offer Bitcoin Futures on the CME. We will continue to monitor the market and consider additional opportunities going forward. ^ZB
— TD Ameritrade (@TDAmeritrade) December 29, 2019
Meanwhile, the founder of Quantum Economics, Mati Greenspan, thinks the XRP’s low price has happened as a result of 2 main causes that are directly related to Ripple. He tweeted,
Yes. XRP tokenomics is a bit funny that way. The two main issues…
1. Ripple holding a large portion of tokens and selling into the rallies.
2. Usage of the network does not necessarily require XRP tokens. Banks can use Ripplenet w/o ever touching the token. https://t.co/oDM2dO1vhV
— Mati Greenspan [not trading advice] (@MatiGreenspan) December 29, 2019
TD Ameritrade is Considering Additional Opportunities
When questioned if interested in adding the third of the biggest cryptocurrencies, TD Ameritrade answered it currently offers support for CME’s Bitcoin (BTC) futures and that it’s considering some other opportunities. However, it didn’t mention what cryptocurrencies is planning to bring on board, even if it has been known to tease the #XRPAmry by mentioning it may add their favorite cryptocurrency. More than this, the company said in December last year that it’s looking into what XRP has to bring.
XRP Didn’t Have a Good 2019
While occupying the third position in the largest cryptocurrencies list, XRP didn’t have a good year in 2019. It started in January with $0.37, only to reach the $0.48 price for a short period of time, on June 23. On November 6, it was priced at $0.30, which was considered one of its highs. But ever since, XRP has been going down to under $0.25 and $0.22. Starting with December 8, its price level reached the very low $0.19 and remained firm in this position.
TD Ameritrade, the First to Offer Its Clients Access to CME and Cboe Bitcoin Futures
TD Ameritrade is a $1 trillion brokerage company that was acquired in November 2019 by Charles Schwab. It became the first financial firm offering traditional services to give its customers access to CME and Cboe Bitcoin futures, thing that happened at the end of 2017. Tim Hockey, TD Ameritrade’s CEO, said the company’s clients were demanding Bitcoin futures. TD Ameritrade also invested in ErisX, the crypto derivatives platform, back in 2017. This has given its clients the opportunity to trade crypto directly on ErisX.