Altcoins
XRP Tops Cryptocurrency Price Gains After Coinbase and ETN Rollout
Ripple’s XRP token sees 22% growth following Coinbase and German stock exchange announcements
United Statescryptocurrency exchangeCoinbase confirmed it had rolled out XRP trading to New York users in a social media update on May 13.
Amid bitcoin’s (BTC) ongoing bull market, XRP topped the day’s best performers on Tuesday following the news, XRP/USD delivering up to 22% gains in the 24 hours to press time.
Coinbase Pro had originally rolled out XRP support on its platform in February.
The New York addition accompanied news from Europe, with German exchange Boerse Stuttgart revealing it had launched a dedicated exchange-traded note (ETN) for both XRP and litecoin (LTC).
“There is a lot of interest in cryptocurrencies,” Jürgen Dietrich, the exchange’s director of blue chips and funds trading, said in an accompanying press release.
“These ETNs will allow investors in Germany to track future price developments of the two cryptocurrencies Litecoin und Ripple through exchange-traded securities for the first time.”
Stuttgart is Germany’s second-largest stock exchange, with Cointelegraph previously reporting about the changing appetites towards crypto more widely among German regulators this month.
Banking interest in Ripple’s payments network meanwhile continues, with Saudi Arabia last month becoming the latest participant to launch cross-border transfers using the technology.
