XRP gets a boost in Asia as Taiwanese exchange launches XRP/TWD trade pair

[Magician]

The adoption of cryptocurrencies across various markets and currencies has been the main goal of many proponents in the space and the recent partnerships and tie-ups make it evident of the path being taken by many. XRP, the third largest cryptocurrency in the market did not enjoy the recently concluded bull run as much as its compatriots, but that has not dimmed the number of developments coming in from the XRP roster.

On April 29, BitoEX, a popular Taiwanese cryptocurrency exchange announced that they added XRP to its fold to enable transactions. The exchange also stated that XRP would be paired with the new Taiwan Dollar [TWD], which makes it the 45th fiat currency to be tradeable with XRP. BitoEX’s official Twitter handle stated:

“【New Trading Pairs】XRP trading pairs goes live today! BitoPro officially launches Ripple (XRP) spot trading for TWD/BTC/ETH/USDT by 12 PM (UTC+8) of 29th April, 2019. We invite fellow traders to come place your orders!”

Taiwan has been a hub for developments from the perspective of the cryptocurrency market as a few months back, Bitrue, another popular Taiwanese exchange, launched the TRX/XRP pair on its platform. Some proponents of the space have also concluded that with the rapid acceptance of crypto in niche countries like Taiwan and Singapore, Asia would slowly, but surely, enter the fore to compete with the cryptocurrency market in the United States.

XRP was also given a boost recently when a Binance research claimed that XRP was the least affected by the volatility of the cryptocurrency market. It also stated that the third largest cryptocurrency was the most diversified digital asset. The Binance research also talked about Ripple, stating:

“Ripple is less correlated in the long-term than what our previous analysis suggested across several 3-month time-periods, using daily returns.”

At the same time, according to the research, XRP was highly correlated to Stellar Lumens, a cryptocurrency giving XRP a run for its money in the cross-border remittances industry.

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