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XRP has been listed on Atlantis Exchange, a platform registered with the U.S. Department of the Treasury. This growth comes at a time of regulatory uncertainty surrounding cryptocurrencies, with potential implications for market dynamics and investor sentiment.

XRP Trading On Atlantis Exchange

Atlantis Exchange introduced the inclusion of XRP amongst its supported cryptocurrencies, with buying and selling commencing on March 17 at 5:00 AM UTC. Users can commerce the altcoin with the USDB buying and selling pair, providing elevated liquidity and accessibility for merchants.

Despite the itemizing, the platform at the moment helps XRP deposits through BNB Chain (BEP20), indicating that integration with the XRP Ledger (XRPL) has but to be applied. While deposits have been accepted since March 13, withdrawal choices shall be accessible from March 20.

However, considerations have been raised concerning the reliability of Atlantis Exchange, with accusations of scams and difficulties in withdrawing tokens, prompting warning amongst XRP traders.

Legal Status Of XRP

Recent authorized developments concerning XRP’s standing as a non-security present context for its itemizing on Atlantis Exchange. Following a courtroom ruling towards the SEC and recognition by the European Corporate Governance Institute, XRP has gained regulatory readability, distinguishing it from different cryptocurrencies entangled in authorized battles. This readability might bolster investor confidence in XRP and contribute to its wider adoption within the cryptocurrency market.

Regulatory Challenges For Cryptocurrencies

Beyond XRP, the broader cryptocurrency market faces regulatory challenges, with allegations surfacing about US President Joe Biden’s purported plans to manage or “destroy” crypto within the United States.

Proposed measures, together with a 30% excise tax on digital mining, have raised considerations amongst trade consultants about their potential influence on the sector and investor worth. Such regulatory uncertainty underscores the necessity for warning and vigilance amongst cryptocurrency stakeholders.

Bitcoin is now buying and selling at $67.708. Chart: TradingView

Expert Opinions And Market Outlook

Experts within the cryptocurrency sector have weighed in on the regulatory panorama, expressing apprehension in regards to the potential penalties of proposed regulatory measures.

Taras Kulyk, the chief govt of mining {hardware} firm SunnySide Digital, warns that implementing a blanket tax on digital mining may “kill the sector” and wipe out billions of {dollars} of investor worth within the U.S. These considerations spotlight the fragile stability between regulatory oversight and fostering innovation inside the cryptocurrency trade.

The itemizing of XRP on Atlantis Exchange represents a big milestone for the cryptocurrency group, providing elevated buying and selling alternatives and liquidity for XRP traders. However, considerations in regards to the reliability of Atlantis Exchange and regulatory uncertainty within the broader cryptocurrency market warrant warning amongst stakeholders.

Market Performance Of XRP

At the time of reporting, knowledge from Coingecko revealed that XRP was buying and selling at $0.60, indicating a decline of two.6% and 4.2% within the day by day and weekly timeframes, respectively. Despite the information of XRP securing an inventory on Atlantis Exchange, the altcoin’s price failed to experience a significant uptick, suggesting that the itemizing announcement had minimal fast influence on market sentiment.

The lackluster response of XRP’s value to the itemizing on Atlantis Exchange could also be attributed to numerous components, together with broader market tendencies, investor sentiment, and regulatory uncertainties.

While the itemizing on a good alternate like Atlantis Exchange may probably improve liquidity and accessibility for XRP merchants, it seems that different market forces could also be exerting stronger affect on XRP’s value trajectory.

Featured picture from Pexels, chart from TradingView

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