Ripple (XRP) continues to make waves in crypto space. Yesterday, it was listed on the new LMax crypto exchange. While we are used to news of cryptos getting added to new exchanges, this one is different. First, LMax has a reputation as one of the largest and most liquid exchanges on the planet, and it’s now making an entry into crypto space, with a platform designed for institutional players. According to the LMax news release, this exchange will allow institutional players to trade in the most liquid cryptos in the market. In specifics, they will be listing Bitcoin, Litecoin, Ethereum, and Bitcoin Cash. This is a big deal for Ripple (XRP) for a number of reasons.
First, we are likely to see an upsurge in the number of institutional investors putting their money into the cryptos that LMax will be listing. Ripple (XRP) is one of those that stand to benefit the most. That’s because it is already widely accepted in institutional circles. Up to this point, ripple (XRP) has been adopted by more than 100 banks. As such, a platform where institutions can trade in it, in a high liquidity environment will be a major boost to its value.
Then there is the increase in legitimacy of the LMax listed cryptos in the eyes of investors. The LMax exchange has been in the business for years, and has institutional clients in over 100 countries. That’s an indicator that it’s a reputable exchange, one whose decisions are based on solid facts and research. As such, the fact that it has ripple (XRP) as one of the cryptos that it is listing is a major boost to the legitimacy of ripple (XRP). Going forward, we are likely to see an upsurge in the number of investors putting their money into Ripple (XRP) on the basis of its legitimacy and stability.
However, the biggest boosts to ripple following the LMax listing is the trading volumes. According to the LMax website, the company has up to this point traded more than $100 trillion of fiat. Now, if just a tiny portion of this can get into crypto, and more specifically into ripple (XRP), ripple could see its value shoot up significantly. This is most important now that crypto volumes have declined. As surge in volumes could trigger a massive price rise in ripple (XRP) in the near future. As a matter of fact, if billions can flow into ripple (XRP) daily through LMax, the value of this crypto could easily break above $1 in the next few days.
So why hasn’t this news pushed up the price of ripple (XRP) yet? Well, that’s partly because people are increasingly getting used to news of new exchange listings. So, this might not have an immediate impact on the value of ripple. However, in a few weeks, once institutional money starts flowing into the LMax listed cryptos, ripple will moon. That’s why at today’s low prices, Ripple (XRP) is a good bet. Its upside potential is huge.