XRP is the world's fifth largest cryptocurrency, boasting a market capitalization of $30.88 billion at press time.
The cryptocurrency, just like other alternative coins, tends to be more volatile than bitcoin and ether.
BIT's decision to list XRP options comes weeks after a U.S. District Court, in a highly anticipated hearing in the U.S. SEC's case against Ripple Labs for violating securities law through XRP sales, that XRP is not a security when offered over centralized exchanges, but is one when sold directly to institutions. The distinction threw a spanner in the SEC's attempts to paint all alternative cryptocurrencies with the same brush.
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