OSL Hong Kong Launches Retail XRP Trading Amid Rising Price
OSL Hong Kong has launched retail XRP trading, allowing local users to access XRP with USD and HKD trading pairs. The move comes as the price of XRP rises, despite a drop in open interest.
The launch gives everyday investors in Hong Kong a regulated way to buy and sell XRP. At present, OSL is the first platform licensed by the Securities and Futures Commission (SFC) to offer direct spot trading for retail investors. Users can trade XRP/USD via Flash Trade, while XRP/USD and XRP/HKD are available through its over-the-counter (OTC) service.
The new XRP/HKD pair allows users to trade with the Hong Kong dollar instead of moving money to overseas exchanges first. This is a significant development for retail investors in Hong Kong, who now have access to XRP through a licensed exchange.
Despite the rise in price, some analysts believe Ripple Coin still looks weak on higher timeframes. Crypto analyst CW notes that open interest has dropped even as the price increases, suggesting many short traders are closing their positions after the recent price increase.