There could be some encouraging news for Ripple investors (Picture: Shutterstock)

Ripple (XRP) has not been having a good few weeks, but there could be some good news round the corner for investors as it is about to be added to Dubai’s top cryptocurrency exchange.

After an early-January high of $3.61 (£2.57) Ripple’s value came tumbling down, reaching just $1.04 (74p) on January 17 although it has recovered slightly to around $1.30 (92p).

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The minor recovery could gather pace thanks to the news that Ripple will be listed on BitOasis, described on its website as, ‘the Middle East & North Africa’s leading digital asset wallet and exchange.’

Currently, only Bitcoin and Ethereurm are listed on BitOasis, so Ripple will join an exclusive group when it is added to the exchange on Tuesday, January 30.




“We’ve decided to introduce XRP trading to meet the increased demand from our customers to add to the list of major cryptocurrencies and digital assets offered on our platform,” said a BitOasis statement issued on Sunday, January 28.

“As one of the largest and fastest-growing companies in the blockchain space in the region, we’re committed to providing our customers with a secure way to buy and sell Bitcoin, Ethereum and now, Ripple.”

Ripple price chart (Picture: CoinDesk)

The news saw Ripple’s value rise to over $1.4 (£1) on Sunday, however, the rally subsided fairly quickly, with XRP returning to $1.3 (92p) by Monday lunchtime.

Ripple is the third biggest cryptocurrency behind Bitcoin and Ethereum, although it remains incredibly volatile as the rise and fall in value since this announcement demonstrates.

The addition of Ripple to BitOasis should be a boost to Ripple investors who have had a tough few weeks, but we will have to wait and see what happens on Tuesday.

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