Atlantis, a registered exchange with the US Treasury Department, has made a groundbreaking announcement regarding its support for XRP trading. The trading began on March 17, with withdrawals set to commence on March 20. This development is significant for Ripple’s XRP as it opens up new opportunities for adoption and solidifies its legitimacy in the crypto industry.
According to the exchange’s announcement on X, XRP trading on the platform started at 5:00 AM UTC on March 17 and is paired with USDB. XRP deposits, on the other hand, began on March 13. The exchange revealed that BNB Chain (BEP20) is the supported network for XRP deposits since the integration of XRP Ledger into its platform has not been completed yet. The report also states that the trading fee for XRP has been set at 0.2%.
Although trading has started, users will have to wait until March 20 to make withdrawals. Atlantis Exchange justified its support for XRP trading by emphasizing the asset’s crucial role in cross-border payments and its status as the primary native token for the XRPL. The exchange positions itself as one of the leading platforms in the crypto space, touting its disruptive international exchange status and next-gen Fintech solutions. It is worth noting that Atlantis Exchange is lawfully registered with the US Department of the Treasury and the United Nations.
Despite its achievements, some market participants have expressed concerns about the reliability of Atlantis Exchange, with a YouTube video even labeling it as a scam. However, it is anticipated that the integration of XRP on the exchange will lead to a price appreciation for the asset. 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 initially made it in July 2023 and reaffirmed it in January during a turbulent period in the crypto market. He advises investors to be cautious of FOMO (Fear Of Missing Out) and reminds them that the crypto market doesn’t move in a straight line.
While not all observers may see the ongoing bullish signs, “Bobby A” believes that XRP investors will realize the initial targets were conservative when the market breaks out. Another analyst had previously predicted that XRP could reach $450, as reported by Crypto News Flash.
Currently, XRP is trading at $0.61, experiencing a 3% decline since the beginning of the year.