https://www.ccn.com/nasdaq-adds-xrp-liquid-index-bulls-rush
Amazing! Nasdaq to Add XRP Liquid Index, Crypto Bulls Rush In
The announcement comes within months of Nasdaq adding Brave New Coin’s (BNC’s) Bitcoin and Ethereum Liquidity Indexes – BLX and ELX. They are all part of the Nasdaq Global Index Data Service.
The launch of crypto indices is clearly significant because it plays right into the mass adoption of cryptocurrencies. Institutional traders who may have been on the sidelines are being drawn into the space with the launch of each index.
Also, the launch of the indices could lead to regulatory approval for crypto-based derivatives in the market, as CCN previously reported.
https://www.newsbtc.com/2019/04/30/ripple-surges-after-nasdaq-adds-xrp-liquidity...Over the past several months many cryptocurrencies have incurred relatively large gains that have put a significant amount of distance between their current prices and their 2018 lows. But much to the chagrin of investors, Ripple (XRP) has not been one of these cryptos, as it has remained relatively stable around the $0.30 region.
Today, however, Ripple has gained some upwards momentum after news broke regarding XRP’s Liquidity Index being added to the Nasdaq Global Index Data Service, joining Bitcoin and Ethereum, which were both added previously.
Ripple (XRP) Sees Growing Adoption Despite Lackluster Price Action
Although many investors directly equate positive price action with growing fundamental strength, the two are not inextricably linked, as often times cryptocurrencies incur massive price movements – both upwards and downwards – regardless of fundamental, news-based developments.
XRP, whose future largely hinges on whether or not banks begin taking to it to facilitate payments, has been floating slightly above its 2018 lows that were set in the mid-$0.20 region in late-December, and many investors are beginning to lose faith in it as it continues to face downwards pressure despite the improving market conditions.
Despite this, in the past week the embattled cryptocurrency has incurred a few positive developments that may ultimately help it climb out of its rut.
Today it was announced that Nasdaq would be adding Brave New Coin’s XRP Liquidity Index to its Global Index Data Service, which was developed by BNC with a goal of meeting the “marketplace requirement for a single, reliable and fair USD price for XRP — based on live real-world trading activity.”
In addition to this, it was also recently announced that Saudi British Bank (SAAB) – which is a subsidiary of banking giant HSBC – has officially launched its first Ripple-based payment system, although it remains unclear as to whether or not they will be utilizing xCurrent or the XRP-based xRapid.
Majed Najm, SAAB’s deputy managing director or corporate and institutional banking, spoke about their decision to use a Ripple-based payment system, saying:
“This step is part of the Bank’s ongoing efforts to provide the best banking services to customers, make use of the latest technology and global banking products available, and create methods and means to save time and effort for our customers.”
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