OKEx Opens Margin Trading For XRP And LTC

The OKEx cryptocurrency exchange has announced that it has launched two new options for margin trading.  In a Twitter post earlier this week, the company said that it would now support Bitcoin Core (BTC)/Ripple (XRP) and BTC/Litecoin (LTC) trading pairs.  

Margin trading can often lead to greater profits, but they come with greater risks, as well.  OKEx cautioned users that they need to carefully consider their options before beginning to invest in the new pairs because of the potential losses.  

Margin trading doesn’t rely on the assets held by the client.  They allow on buy and sell orders using loans that are provided from brokers or through stock purchases that increase the purchasing power of the investor.  

XRP has seen a continued increase in its price this week, thanks in part to Ripple’s continued expansion.  According to CoinMarketCap, the coin is now at $0.51 after rising to $0.55 on Monday. However, only a week ago it was trading at $0.45, making the increase a solid win for the digital currency.

Part of the improvement comes from the announcement that Ripple’s xRapid has gained wider adoption and is now more efficient.  It has also been revealed that SendFriend and SBI Group are going to incorporate Ripple products into their platforms.

With the strength XRP is gaining, coupled with several hits taken by the Ethereum blockchain recently, XRP could soon take over as the second ranked cryptocurrency.  Its market cap is quickly approaching that of Ethereum and we might see a change before the end of the year.

LTC has been a little more volatile over the past week.  It started at about $49 on November 2 and climbed to $55 two days later.  Since then, it has been on a roller coaster, reaching as much as $56 before dropping to the current price of $53.46, according to CoinMarketCap.  Despite the drop, most analysis shows a bull run coming for LTC, but it will be mixed with a fair amount of volatility.