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Binance Peer To Delist XRP and Litecoin (LTC), But There’s A Catch
XRP News: Crypto exchange Binance’s peer OKX will delist Ripple’s XRP and Litecoin (LTC) USDT-margined and crypto-margined expiry futures today. The move comes in line with current market trends and to meet users’ needs, the crypto exchange explained.
Traders may anticipate some volatility in XRP and LTC prices as a result of this news. However, analysts are optimistic about further rally in the next bull market wave.
OKX to Delist Ripple’s Coin and Litecoin Delivery Contracts
Crypto exchange OKX announced earlier that it will phase out the generation of XRP and LTC USDT-margined and crypto-margined expiry futures. This is scheduled to be completed by today, December 27.
The crypto exchange will officially delist XRP and LTC expiry futures at 8 AM UTC on December 27, 2024. Bi-weekly expiry futures and Bi-quarterly expiry futures were ceased in earlier months by the platform. It also cleared that the currently listed expiry futures will remain unaffected until their respective expiration dates.
Amid this delisting news by the top crypto exchange Binance’s peer OKX, there may be some volatility in XRP and LTC prices. This may happen due to traders reacting to the developments. Investors need to keep an eye on trading volumes and market sentiments for any change in direction.
XRP and LTC Prices Under Pressure
XRP price today jumped 0.5% and 11% in a week, with the price currently trading near $2.20. The 24-hour low and high are $2.13 and $2.23, respectively. Furthermore, the trading volume has continued to decline this week, with a 20% jump in the last 24 hours, indicating a decline in interest among traders.
Ripple’s native coin XRP has shown similarities in price movements to its historical chart patterns of 2014-2017. A breakout and positive news can push the XRP price beyond the $20 level.
Meanwhile, Litecoin price is also trading sideways near $104. The price changed hands at $104.05, after a more than 20% rally this week. The 24-hour low and high are $101.16 and $104.16, respectively. Total LTC future open interests dropped 1% in the last 24 hours. The 4.38 million LTC futures OI are now valued at $457.26 million, signaling cautious trading activity.
Varinder Singh
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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