Recently, XRP (XRP) – the native currency of Ripple – got listed on a digital currency trading platform that could further increase the adoption of the coin in India. The latest digital currency trading platform to add the coin in India is Colodax. The trading platform went ahead to list XRP on the platform despite the poor price performance of the coin over the past weeks. This development even occurred when the Indian Supreme Court questioned the jurisdiction of the Reserve Bank of India on digital currencies.
According to the press release, the Indian digital currency trading platform chose the public ledger because of Ripple of its security. The platform offers instant withdrawals and deposits, faster transactions, as well as low trading fees. The addition of XRP to the Colodax has increased the trading pairs of the platform to more than 10, including Bitcoin (BTC), XRP (XRP), Ethereum (ETH), Stellar Lumens (XLM), Litecoin (LTC), PundiX, Ox, Bitcoin Cash (BCH), and Tron (TRX). Will XRP ever recover? This development might attract more digital asset investors to the coin in India and this could possibly boost the price of XRP.
The Supreme Court of India is still pondering the future of digital currencies in India. As such, a lot of cryptocurrency enthusiasts are curious about the action of the trading platform, despite the present RBI restrictions. In a tweet, Colodax responded to these concerns saying:
“RBI had directed all banks to stop providing services to the accounts of crypto trading platforms. To ensure smooth INR withdrawals and deposits, we had built a network similar to peer-to-peer and we are calling it Broker to Peer, i.e. B2P. This helps our traders in India to trade without worries.”
XRP price index just went live on the website of NASDAQ. NASDAQ is the second-largest stock exchange in the world; it is second to the New York Stock Exchange. This is a very good XRP news and the crypto community has welcomed the listing of XRP on the stock exchange with open arms. NASDAQ announced the potential listing of XRP on its platform back in April. However, the price index of XRP went live on the platform on August 16. Will XRP price ever recover? This bullish crypto news might give XRP the push it needs to break out of its range-bound.