In a significant development for cryptocurrency markets, XRP has commenced trading on Atlantis Exchange, a crypto trading platform registered by the U.S. Department of the Treasury. The exchange made this announcement via a post on X, revealing that XRP trading started on March 17 at 5:00 AM UTC. The platform has introduced a trading pair for XRP with USDB, marking a pivotal moment for both XRP and Atlantis Exchange enthusiasts. This move not only diversifies the trading options on the platform but also enhances XRP’s accessibility to a broader audience.
Atlantis Exchange has outlined the procedure for XRP deposits, specifying the BNB Chain (BEP20) as the supported network. This detail indicates that, as of the announcement, the exchange has not integrated the XRP Ledger (XRPL) directly for transactions. XRP deposits began on March 13, ahead of the trading start date, showcasing the platform’s preparedness to accommodate XRP transactions. From March 20, traders will also have the option to request withdrawals, providing a complete trading cycle for the cryptocurrency on the exchange.
Projected growth and precautions for XRP traders
Atlantis Exchange has boldly forecasted a significant growth potential for XRP, suggesting a possible 100-fold increase in value. This optimistic projection aims to attract traders by highlighting the potential financial upside of engaging in XRP trading on their platform. It is a strategic move to boost trading volumes and trader interest in XRP.
Despite the enthusiasm surrounding XRP’s listing and the positive projections, concerns have been raised regarding the reliability of Atlantis Exchange. Some users have labeled the platform a scam, citing issues with token withdrawals. These allegations have cast a shadow over the exchange’s reputation, urging potential investors to proceed with caution. In the crypto market, where the landscape is ever-evolving, the credibility of platforms plays a crucial role in traders’ decision-making processes.
XRP’s legal status and exchange registration
The listing of XRP on Atlantis Exchange comes at a time when the cryptocurrency has achieved clear legal status in the United States. A court ruling last year deemed XRP a non-security, a decision that the European Corporate Governance Institute later acknowledged. This legal clarity positions XRP favorably among cryptocurrencies, potentially influencing its adoption and trading activities. The acknowledgment of XRP’s legal status underlines the importance of regulatory compliance and its impact on the cryptocurrency market.
Atlantis Exchange’s registration with the U.S. Department of the Treasury and the United Nations adds a layer of credibility to the platform. This regulatory compliance is a key factor for traders and investors when choosing an exchange.
The platform describes itself as a disruptive international exchange with advanced FinTech solutions, aiming to innovate within the crypto trading space. As the market for digital currencies continues to evolve, the role of compliant and innovative trading platforms like Atlantis Exchange will be critical in shaping the future landscape of cryptocurrency trading.
