bitcoin and XRP price are looking somewhat green on low time frames as certain narratives around the crypto space gain momentum. Cryptocurrencies remained around two critical levels and could be set to extend the trend in the coming days.
At the time of writing, XRP price is trading at $0.50 with a 1% gain in the last 24 hours. Meanwhile, bitcoin posted a 2.4% gain over a similar period, but the number one cryptocurrency by market cap could underperform XRP and other altcoins.
Coinbase to Launch crypto Futures Trading Worldwide
Coinbase cryptocurrency exchange recently Announced the launch of a derivatives platform for its international clients. The American company has been trying to increase its presence abroad as the Securities and Exchange Commission (SEC) tightens regulatory conditions in the country.
In that sense, the cryptocurrency trading center launched an international arm to increase revenue as spot trading volumes decrease with the crypto market. Today, it is confirmed that the exchange has obtained a license from the Bermuda Monetary Authority (BMA) to allow institutions to trade perpetual futures outside the US.
The company said in an official statement:
Today, we are pleased to announce that Coinbase International Exchange has received additional regulatory approval from the BMA to extend perpetual futures trading to retail customers outside the US. In the coming weeks, we will begin offering eligible customers access to futures contracts. regulated perpetuals on Coinbase Advanced.
This announcement could bring more traders into the crypto ecosystem to benefit bitcoin, the price of XRP, and the entire market. XRP has been among the most popular currencies in recent months following a critical legal victory in the US.
Is XRP Price Ready for a Surprise Soon?
While the legal scenario in the United States is still uncertain for the nascent sector, analyst Brett Hill believes that XRP is one of the coins that will benefit from its victory against the SEC. The analyst affirms that the “Far West”, the era in which everything was allowed, “is practically over” for the nascent industry.
If this scenario plays out, legally backed tokens will thrive, and XRP and bitcoin look like the two likely winners in this new era. Just yesterday, SEC Chairman Gensler reiterated that bitcoin is not a security under US law, and a court did the same with XRP.
In that sense, the analyst says that XRP could “take everyone by surprise” in the next 48 hours while adding:
The golden age of cryptocurrencies in the Wild West is practically over; From now on, everything will be regulated by white hats.
Cover image from Unsplash, chart from Tradingview
