Bitcoin and XRP prices are showing some green in the short term as certain narratives around the crypto space gain momentum. The cryptocurrencies remained around two critical levels and could be ready to extend the trend in the coming days.
At the time of writing, the XRP price is trading at $0.50 with a gain of 1% in the last 24 hours. Meanwhile, Bitcoin posted a gain of 2.4% over a similar period, but the number one cryptocurrency by market cap could underperform XRP and other altcoins.
Coinbase to launch crypto futures trading worldwide
Crypto exchange Coinbase recently announced the launch of a derivatives platform for its international clients. The American company is trying to increase its presence abroad as the Securities and Exchange Commission (SEC) tightens regulations in the country.
In this sense, the crypto trading platform has launched an international branch grow revenue as spot market trading volumes decline with the crypto market. Today it is confirmed that the exchange has been granted a license by the Bermuda Monetary Authority (BMA) to allow institutions to trade perpetual futures outside the US.
The company said in an official statement:
Today we are pleased to announce that Coinbase International Exchange has received additional approval from the BMA to expand perpetual futures trading to non-US retail customers. In the coming weeks, we will offer eligible customers access to regulated perpetual futures contracts on Coinbase Advanced.
This announcement could bring more traders into the crypto ecosystem, benefiting Bitcoin, the XRP price, and the entire market. XRP has been one of the most popular coins in recent months following a crucial legal victory in the US.
XRP price ready for a surprise soon?
While the US legal scenario is still uncertain for the emerging sector, analyst Brett Hill believes XRP is one of the coins that will benefit from the victory over the SEC. The analyst claims that the ‘Far West’, the era when anything was allowed, is ‘virtually over’ for the emerging industry.
If this scenario plays out, legal-backed tokens will flourish, and XRP and Bitcoin seem the two likely winners in this new era. Yesterday, SEC Chairman Gensler reiterated that Bitcoin is not a security under US law, and a court did the same for XRP.
On that note, the analyst says XRP could ‘surprise you all’ in the next 48 hours add:
The golden age of cryptocurrency in the far west is all but over; in the future everything will be regulated by white hats.
Cover image from Unsplash, chart from Tradingview