Bitstamp Resumes XRP Trading After Temporary Issue
Bitstamp Exchange experienced a temporary issue with XRP trading, but within just one hour, the exchange announced that the trading of the coin had resumed. The issue was acknowledged on October 10 at 18:24 (UTC), and Bitstamp assured its community that a team was actively working to resolve it. Although specific details about the nature of the issue were not initially provided, some users speculated about unconfirmed issues with Dogecoin (DOGE) trading pairs.
After resolving the issue, Bitstamp had to cancel all open orders on affected XRP markets. Users affected by this cancellation were encouraged to resubmit their orders. During the period when the issue occurred, there was a significant drop in XRP’s price on the platform, with XRP plummeting to $0.4587 at around 09:00 (UTC).
Bitstamp’s Strong Support for XRP and Partnership with Ripple
Bitstamp has shown significant support for XRP, relisting the coin in July following a declaration that it is not a security. The exchange has introduced various XRP-focused products, including offering 2% APY on XRP lending. Bitso, a Mexican crypto exchange, and Bitstamp have received significant XRP transactions and maintain a close partnership with Ripple for cross-border payments.
Recently, a large XRP transfer was made from an unknown wallet to Bitstamp, further highlighting the connection between Ripple and Bitstamp. Bithomp, an XRP analytics platform, has also provided data confirming this connection. Bitso and Bitstamp have played crucial roles as partners with Ripple in facilitating seamless cross-border payments using XRP.
Hot Take: Ripple and Bitstamp Strengthen Their Collaboration for Cross-Border Payments
The temporary issue faced by Bitstamp with XRP trading did not deter the exchange from quickly resolving it and resuming trading. Bitstamp’s strong support for XRP, along with its partnership with Ripple, indicates their commitment to the success of XRP-based cross-border payments. The significant XRP transactions between Bitso, Bitstamp, and Ripple further solidify their collaborative efforts in revolutionizing the payment industry. As cryptocurrencies continue to gain mainstream acceptance, partnerships like these will play a vital role in driving innovation and adoption in the financial sector.
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