- Atlantis Exchange has integrated XRP, initiating trading on March 17 with a USDB pair and enabling deposits via BNB Chain (BEP20).
- Despite bold value projections for XRP, concerns about Atlantis Exchange’s reliability and withdrawal issues have prompted calls for caution among investors.
With the addition of Ripple’s XRP to its portfolio of digital currencies, the Atlantis Exchange will allow trading of the USDB/XRP pair beginning on March 17. This happened after the platform’s XRP deposit opened on March 13.
$XRP to start trading at 5:00 AM, UTC, today.
Get #funds ready now.
A value increase of #100x or more seems possible.
Don't miss out!
🔥🔥🔥 https://t.co/XiqhKmciUM
— Atlantis Exchange (@Atlantis_Ex) March 17, 2024
Atlantis Exchange Welcomes XRP TradingÂ
As of right now, the platform allows XRP deposits only through the BNB Chain (BEP20), indicating that direct integration with the XRP Ledger (XRPL) is still in the works. This distinction is important for users who might choose to use the XRPL directly due to its special benefits and features.
XRP withdrawals will be available starting on March 20, according to the exchange, giving traders time to trade before enabling the withdrawal facility. In line with industry standards, the Atlantis Exchange’s trading charge for XRP transactions is set at 0.2%.
The Atlantis Exchange made a bold prediction, speculating that the listing of XRP may increase its value by a factor of 100. This was done to attract traders’ attention and profit on the speculative character of cryptocurrency markets. That being said, investors are advised to conduct careful due diligence and to proceed cautiously when making such predictions.
The main cryptocurrency of the XRPL, XRP, is praised for its effectiveness in expediting cross-border transactions. Its quick transaction processing times—typically 3-5 seconds—make it a desirable choice for global financial settlements.
With registrations with the United Nations and the U.S. Department of the Treasury, Atlantis Exchange emphasizes its credibility and positions itself as a disruptive force in the global trading scene, hoping to become a reliable player in the FinTech space. To explore more details about this development, you can watch the following YouTube video.
Investor Caution Advised Amid Exchange Reliability Concerns
Still, some market watchers have expressed doubts about the Atlantis Exchange’s dependability and honesty, pointing specifically to problems with token withdrawals that have been made. These concerns have damaged the platform’s reputation a little bit, and potential users are now advised to exercise cautious.
XRP’s legal position in the US has been largely established by a court ruling against the SEC; also, as previously reported by ETHNews, the European Corporate Governance Institute has validated XRP’s classification as a non-security.
Institutional interest has increased as a result of this court decision, and rumors regarding the launch of ETFs focused on XRP are becoming more and more intense, as ETHNews had earlier detailed.
At the time of writing, the price of XRP has slightly drop 1.04% in the last 24 hours, reaching a price of $0.6091. This represents an increase of 3.03% over the past 7 days.