Atlantis, a registered exchange under the US Treasury Department, has made a groundbreaking announcement by announcing its support for XRP trading. This move has brought about a significant milestone for Ripple’s XRP, as it gains recognition and legitimacy in the crypto industry.
According to the exchange’s announcement on X, trading of XRP officially began on March 17 at 5:00 AM UTC, with the trading pair being USDB. However, users were able to start depositing XRP on March 13.
The exchange revealed that XRP deposits are supported on the BNB Chain (BEP20) network, as the integration of XRP Ledger into the platform is yet to be completed. The trading fee for XRP has been set at 0.2%, as stated in the report.
Although trading has already commenced, users will have to wait until March 20 to make withdrawals from the platform. Atlantis Exchange justified its support for XRP trading by highlighting its crucial role in cross-border payments and its status as the primary native token for the XRPL. The exchange prides itself on being one of the leading platforms in the crypto space, boasting disruptive international exchange capabilities and next-gen Fintech solutions. It is registered with both the US Department of the Treasury and the United Nations.
Despite the positive developments, there are concerns about the reliability of Atlantis Exchange, with some market participants labeling it as a scam in a YouTube video. However, it is anticipated that the integration of XRP on the exchange will result in a price appreciation for the cryptocurrency. Crypto analyst “Bobby A” predicts that XRP has the potential to reach between $8 and $13.
This prediction is not new, as “Bobby A” had previously made it in July 2023 and reiterated it in January during a turbulent period in the crypto market. While acknowledging the bullish phase of XRP, he warned investors about FOMO (fear of missing out) and the need to seize opportunities in the market, which does not move in a straight line.
Although not all observers may perceive the ongoing bullish signs, “Bobby A” believes that XRP investors will realize that the initial targets are conservative once the market breaks out. It is worth noting that another analyst had previously predicted that XRP could reach $450.
As of now, XRP is trading at $0.61, experiencing a 3% decline since the beginning of the year.