New XRP Spot Trading Pair Lands on Leading Crypto Derivatives Exchange

Despite the prices of various crypto assets plummeting heavily, leading crypto exchange BitMEX has listed XRP for spot trading.

Leading crypto derivative exchange, BitMEX, has announced the listing of XRP for spot trading.

Ready for this?

Tomorrow, two new tokens are coming to BitMEX Spot:
➡️ $XRP (@Ripple)
➡️ $ATOM (@cosmos)

Details? https://t.co/B8keHFDcCz pic.twitter.com/hmwHTECksq

— BitMEX (@BitMEX) March 19, 2024

BitMEX Adds Spot Trading Pair For XRP and ATOM

Starting tomorrow at 04:00 (UTC), BitMEX customers can trade XRP against Tether (USDT) on the spot section of the exchange.

In addition, users can also convert the coin to over 30 crypto assets supported on BitMEX spot, including Circle (USDC) and Bitcoin (BTC). Notably, the exchange will not impose any fee during the conversion process.

Furthermore, BitMEX announced that customers will get an opportunity to deposit and withdraw XRP within the same timeframe. In addition to XRP, BitMEX will list Cosmos (ATOM) in the spot section of the exchange. According to the announcement, users can also trade, convert, deposit, and withdraw ATOM starting tomorrow.

“Tomorrow at 04:00 UTC, XRP (Ripple) and Cosmos (ATOM) are coming to BitMEX spot, allowing users to deposit, convert, and trade the tokens on BitMEX,” the announcement notes.

The development comes less than 48 hours after XRP trading went live on Atlantis Exchange, a crypto trading platform registered with the United States Department of the Treasury.

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Prior Support for XRP

Launched in 2014 by Arthur Hayes, Samuel Reeds, and Ben Delo, BitMEX is a crypto derivatives platform allowing users to trade various crypto-based financial products. The exchange is known mainly for options and futures trading.

Before today’s announcement, BitMEX had previously added support for XRP. In particular, XRP was introduced on BitMEX for perpetual swaps as far back as February 2020. At the time, Hayes took a swipe at XRP, asking whether the coin is called Ripple or dogsh*t.

Is it called Ripple, XRP, or dogshit? Who knows, who cares. It’s worth more than zero so it’s time to trade the USD pair on BitMEX. Boo-Yaka-sha! https://t.co/pa3T5vd5kl

— Arthur Hayes (@CryptoHayes) February 4, 2020

Unlike the perpetual swap option, BitMEX spot users can buy and sell XRP at the current market rate while immediately taking delivery of the underlying asset.

XRP Plunges 1.71% in 24 Hours

The news of XRP listing for spot trading on BitMEX did not positively impact the coin’s price. At press time, XRP was trading at $0.597, down 1.71% over the past 24 hours.

XRP, which spiked to $0.73 on March 11, has lost most of its gains, thanks to the widespread onslaught across the broader market.

Data from CoinGecko shows that XRP is down 15.5% in one week and 8.2% over the past 14 days. Conversely, the coin has staged a 6.42% gain on the monthly timeframe.



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