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Bitrue adds XRP base pairs against three cryptocurrencies




XRP base pairs added against three cryptocurrencies on Bitrue exchange
Source: Unsplash

After a rumor-filled day which saw the Cobalt update being delayed again, the XRP community breathed a sigh of relief post Bitrue exchange’s announcement of adding XRP as a base pair against three cryptocurrencies viz, Basic Attention Token [BAT], DASH, and STORM.

Bitrue is a Singapore-based exchange, but has offices all across the world, including in US and Japan. The exchange announced the development via Twitter:

The exchange upgraded their wallet for XRP and resumed the deposit and withdrawal of XRP on March 23, 2019. Moreover, the exchange has over 34 cryptocurrencies paired to XRP, including Bitcoin Cash [BCH], EOS, Ethereum Classic [ETC], GAS, and OmiseGo [OMG].

Bitrue also included other programs for XRP to attract users to its platform as it announced an XRP airdrop and a 7.3% interest program for XRP in March 2019. The airdrop was extended to two weeks after users requested for the same.

@plitern1, a Twitter user, commented:

“Thank you for the continued roll-out of XRP base pairs!🥰
This is how the whole echosystem of crypto starts to mature as a whole: The diminishing correlation to the Btc peg. It’s not only great for #XRP but for everyone that likes crypto & wants crypto as a whole to succeed. 🌊”

Another Twitter user, @super_dog79, commented:

“Your response to your customers is endearing. It won’t belong before you’re the preferred exchange of retail customers . Great platform !”

The stigma of XRP being a security has been reducing after more and more exchanges began adding XRP to their exchanges. In addition to listing XRP, they are also adding XRP as base pairs.

Moreover, March seems to be favoring XRP adoption as CoinField also announced the addition of 130+ pairs against XRP on their testnet in March 2019. Sharia-compliant Middle East exchange Rain also added XRP to its roster of cryptocurrencies. Furthermore, UK’s PayGlobal also added the XRP feature to their platform, allowing users to convert their crypto to fiat with a new bank card.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Ripple’s David Schwartz gets called out for selling his XRP; user brands it ‘biggest warning sign’ for XRP hodlers

Namrata Shukla



Ripple's David Schwartz called out for selling his XRP; user brands it 'biggest warning sign' for XRP hodlers
Source: Pixabay

The cryptocurrency market saw most major coins fall considerably on April 21 as Bitcoin [BTC], the world’s largest cryptocurrency, registered a dip in prices. XRP, the third largest cryptocurrency on CoinMarketCap, also faced the brunt of BTC’s dip. XRP’s bear market has contributed to many XRP enthusiasts doubting their position. This was reflected in a tweet by a Twitter user, claiming to have seen the ‘biggest warning sign’ for XRP hodlers.

Twitter user @hlnoooo tweeted,

“Warning to all $XRP holders.
Ripple CTO @JoelKatz recently selling his $XRP stack is the biggest warning sign one could ever get. This is the most bearish sign for $XRP I have ever witnessed since beginning of ’17.”

The user further attached a warning for all crypto users, asking them to “get out now.”

Apart from Ripple’s CTO, David Schwartz, selling his XRP, the user observed a similar trading behaviour with another “Ripple employee,” who was also selling his/her XRP over the past few days. The SEC’s ‘Framework for Analysis of Digital Assets,’ hinting at a possibility of XRP being termed as a security in the long-term was speculated to be the reason behind the sale of these XRPs.

The user also cited an old tweet by Schwartz, where the CTO spoke about the ‘de-risking strategy’ he came up with his wife during the previous bull run. Schwartz’s tweet read,

“I hold some XRP that I bought on the open market over the years as well as other similar assets. When I first chose to put money in, I agreed on a de-risking strategy with my wife should we ever have too much at risk, which I’ve been following with some sadness.”

The user took this as an indication of the risk associated with owning XRP. He further stated that the bear market, coupled with the news of the CTO selling a part of his XRP was worrisome and bearish for the community.

However, Schwartz was quick to clarify his position and stated that he was still following the ‘de-risking strategy.’ He added,

“What helped me not to be so sad selling during the bull run was thinking how happy I’d be if I regretted my decision, but it still hurt.”

Schwartz’s informed @hlnoooo that a majority of his liquid assets was still XRP and that a majority of “illiquid assets was still Ripple stock.” He claimed to be deep in the game whether he “wanted to or not.” The CTO also spoke about the amount of risk he and his wife were in and the realization they had about how there was nothing to be done fundamentally. He concluded by saying,

“All my eggs are in one basket, but I do like the basket.”

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