TL;DR
- Interactive Brokers expanded its crypto offerings, allowing services with XRP, ADA, and two other digital assets.
- Despite the listing, the newly added coins saw no price gains, with all four experiencing daily declines in line with a slight pullback of the entire crypto market.
Diving Deeper Into Crypto
According to a recent announcement, Interactive Brokers (a well-known brokerage firm with almost three million clients worldwide) added four cryptocurrencies to its trading platform. The assets in question include Ripple (XRP), Cardano (ADA), Solana (SOL), and Dogecoin (DOGE).
“Adding these new tokens gives our clients even more flexibility to diversify their portfolios and take advantage of opportunities across digital assets,” said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers.
He claimed that the effort aligns with the company’s ongoing commitment to offer clients “a comprehensive and efficient trading experience.”
The newly introduced cryptocurrencies are not the only ones available on the platform. Over the past few years, Interactive Brokers has enabled trading services with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Price Reaction?
Despite the additional support from Interactive Brokers, the involved cryptocurrencies did not witness any price gains. In fact, they have all entered red territory in the past 24 hours following the minor correction of the entire crypto market for that timeframe.
Ripple’s XRP currently trades at around $2.37, a 4% decline on a daily scale and a 5% fall on a weekly basis. The asset witnessed a solid (yet short-lived) spike last week when Ripple’s CEO Brad Garlinghouse announced that the US SEC had dropped their appeal against the company, describing the effort as the end of the lengthy legal battle.
Earlier this week, the chief legal officer Stuart Alderoty said the company will withdraw its cross-appeal and pay a fine of $50 million (instead of the previously ruled $125 million), potentially marking the tussle’s official end.
That said, XRP proponents will have to wait for other events that could act as price catalysts for the token. One example is the potential launch of a spot XRP ETF in the USA, which, according to Polymarket, has an 85% chance of seeing the light of day before the end of 2025.
ADA, SOL, and DOGE have registered similar price declines in the last 24 hours. Unlike XRP, though, they remain in green territory on a weekly scale.
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