XRP Now Listed on Hong Kong-based, Decentralized Finance protocol 

XRP Now Listed on Hong Kong-based, Decentralized Finance protocol 

The listing of XRP on its trading platform has been announced by Linear Finance, a decentralized finance protocol with headquarters in Hong Kong. The transaction took place more than a month after ripple won the SEC lawsuit, sparking a wave of listings. In a recent tweet, the Linear Finance team announced the development. The “liquid version” of XRP, lXRP, is now accessible for trade on the Liquid market, according to the official statement. The statement was dubbed “a surprise to kick off the new week” by Linear Finance.   

Linear Finance is a cross-chain protocol with a Hong Kong base that was introduced in September 2020. One of the decentralized apps offered by Linear Finance is Linear Exchange, a native cryptocurrency exchange. The fifth-largest cryptocurrency by market cap, XRP, would become even easier to acquire and sell if it were listed on the Linear exchange.

Along with Bitcoin and Ethereum, the token continues to be one of Hong Kong’s most widely used crypto assets. While XRP alone hasn’t achieved much in the city-state, Ripple is currently expanding its reach there through CBDC programs. As was previously reported, the pilot real estate tokenization initiative will begin in Q3 2023 on Ripple’s CBDC platform thanks to plans made public by Hong Kong-based Fubon Bank. 

Related Reading: XRP Whales Movements in August; Nearly $900M Token in and out of Unknown Wallets

XRP Recent Widespread Supports 

Since US District Judge Analisa Torres ruled that the asset is not a security, XRP has gained a lot of support from cryptocurrency exchanges in other locations.  Notably, after the decision, exchanges that had delisted the coin as a result of the SEC v. Ripple litigation had to relist it. Coinbase, OKX, and Kraken are some of the exchanges that have relisted XRP. To launch the initial listing of XRP, Gemini joined them.  

Linear Exchange, like Gemini, had never previously listed XRP. Its choice to act now would support maintaining the asset’s upward trend. The recent listing of XRP on the Linear market, meanwhile, has had little effect on the asset’s price. For the previous few days, the price of XRP has been constant in the $0.51–$0.53 range.  The coin rose to $0.54 yesterday before falling back to $0.53. At the time of publication, XRP is trading at $0.5284, up 2.16% over the previous day.  

XRP is up 2.16% in the last 24 hours. Source: CoinMarketCap

Read Also: XRP Faces Crucial Juncture with Volatility and Mixed Signals at $0.51

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