If anything, Ripple (XRP) has been on fire in the past 48 hours adding a massive 45 percent at the time of press. While there is a slow-down, Ripple (XRP) supper rally coincides with CoinBase’s decision to allow XRP trading to New York residents.
XRP Trading Now Available In New York
CoinBase, one of the largest crypto exchanges in the US, revealed two days ago that XRP trading is now available for CoinBase Pro users in New York. While the cryptocurrency was added for trading earlier this year on the platform, traders in all over the globe had access to XRP except those in New York and the UK.
However, New York traders would now be able to buy, sell, convert, send, receive, and store the cryptocurrency on the CoinBase Pro trading platform. XRP has been on the rise since it was made available to New York traders.
Following its availability, the asset is up by 45 percent in the last 48 hours. This is an unexpected increment, coming at a time when the asset was largely in consolidation with caps at 40 cents. Before yesterday’s spike, the asset was changing hands at around 30 cents and retesting Q1 2019 lows.
Apart from that, the total market cap received a boost, surging from around $13 to $17 billion as XRP bulls close in on Ethereum (ETH) as the challenge for number-2 spot heats up. Because of yesterday’s upswings spurred by CoinBase Pro allowing XRP trading in New York, a crypto stringent state, the asset is now one of the top performers, outpacing BTC in the last 36 hours.
The XRP community on Twitter have been expressing their excitement since the announcement, with most of them of the view that this is the time to ramp up, load the coin at a discount as prices would expand in days ahead. Expressing their optimism, the Ripple community reckon that at this rate the asset will rally to above 50 cents at even to Sep 2018 highs of 80 cents.
Coinbase Pro Also Recorded Growth
The cryptocurrency community had expected CoinBase to list XRP on its trading platforms a long time ago. However, due to the regulatory uncertainty surrounding the cryptocurrency, CoinBase took their time. As a result, XRP was latter added to CoinBase Pro earlier this year, and this was followed by listing on its retail online exchange.
While XRP’s price has been on the rise since CoinBase’s announcement, the CoinBase Pro platform has also recorded remarkable growth over the past few days. The crypto trading platform saw a 70 percent increase once the decision was made hinting of underlying demand and the release of pent-up energy thereby propelling XRP prices.