Kraken Cryptocurrency Platform Introduces Ripple Trading Pairs

The second largest cryptocurrency in terms of market capitalization, Ripple (XRP) is now available for a much wider audience. The latest announcement by popular cryptocurrency exchange and trading platform, Kraken comes as an icing on the cake, following reports of XRP’s addition into six new cryptocurrency platforms.

Kraken, in its recent blog post and mailer to customers, announced the inclusion of four different XRP trading pairs on its platform. The newly introduced cryptocurrency/fiat pairs include XRP/EUR, XRP/USD, XRP/JPY and XRP/CAD. The platform, in its blog states,

“The new trading pairs mean that clients who want to buy or sell XRP in exchange for their preferred fiat currency can now do so directly.”

The inclusion of new trading pairs on Kraken follows the cryptocurrency’s record-breaking performance in the past few months. Its value has increased by 40 times, influenced by a 6-fold increase in its trading volumes. Kraken’s extended support for XRP comes weeks after the platform broke its previous records in trading volumes.

On May 5, 2017, the platform reported a record 24-hour trading volume of $178,521,474, which was a 25 percent increase from its previous record set on March 17, 2017.

According to yesterday’s press release, Bitso, Coinone, bitbank and SCI’s BuyBitcoin are the new platforms to include support for Ripple. In the coming days, the cryptocurrency will also be listed on AlphaPoint and Quione’s QRYPTO exchanges.

A few days ago, Ripple made its decision to place 55 billion XRP in escrow, ensuring liquidity in the market. With the move, the platform has managed to win community’ confidence as there was always a fear of the 61.68 billion tokens flooding the market overnight, wiping out whatever value the tokens in circulation have gathered so far.

All these developments, accompanied by talks of further development of Ripple protocol has helped XRP price scale new heights.

Ref: Kraken Blog | Image: NewsBTC