Ripple‘s XRP trading is one of the highest-ranking on crypto exchanges like Coinbase. Coinbase has enabled XRP trading for traders in the New York State.
The San Francisco-based exchange on Monday, May 13, spread the word via Twitter that it had enabled XRP trading for New York residents. Apart from the current Bitcoin rally, this might be the reason behind the sudden increase in XRP price.
A tweet by Coinbase stated:
“XRP is now available to Coinbase users who are residents New York. New Yorkers residents can now log in to buy, sell, convert, send, receive, or store XRP on coinbase.com or using our iOS and Android apps.”
The residents of New York are welcomed to conduct trades with XRP on coinbase.com via mobile apps or trade directly. After the release of news on XRP, the price surged more than 20 percent and hit $0.39 as per CoinMarketCap. Bitcoin price increasing over the last day and breaching through the $8,000 area is also a reason for the surge of ripple price.
In February 2019, Coinbase listed ripple for all its customers except those from the UK and New York. Coinbase’ trading list keeps swelling with new crypto assets as traders can convert and trade on coins such as ETH, ETC, BTC, BCH, and BAT.
As for the coin market, Ripple is the top gainer. In the past 24 hours, it surged over 19.93 percent. This is ahead of Bitcoin which increased by 16.41 percent.
According to the analyst, over the past 24 hours, Ripple’s XRP trading volume has doubled. A possible reason behind the recent XRP surge could be a German stock exchange, Borse Stuttgart, listing stock notes that are based on Litecoin (LTC) and Ripple (XRP).
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