Crypto exchange OKX delists Ripple's XRP and Litecoin (LTC) USDT-margined and crypto-margined expiry futures

This decision aligns with current market trends and aims to better serve the needs of its users, the exchange stated.

Crypto exchange OKX has announced the delisting of Ripple’s XRP and Litecoin (LTC) USDT-margined and crypto-margined expiry futures, effective today. This decision is made in response to current market trends and aims to better serve the needs of its users.

Traders should prepare for potential volatility in the prices of XRP and LTC as the market reacts to this news. Despite this short-term fluctuation, analysts remain optimistic about the prospects for both cryptocurrencies, anticipating a rally during the next bull market wave.

The official delisting of the XRP and LTC expiry futures will occur at 8 AM UTC today. Earlier this year, OKX had already ceased the generation of bi-weekly and bi-quarterly expiry futures for these assets. It is important to note that the currently listed expiry futures will continue until their respective expiration dates.

Following this announcement, XRP has seen a modest price increase of 0.5% today and an impressive 11% rise over the past week, currently trading around $2.20. The 24-hour trading range for XRP has been between $2.13 and $2.23. However, trading volume has been on the decline, with a recent 20% increase in the last 24 hours reflecting a waning interest among traders.

Ripple’s XRP has exhibited price movements reminiscent of its historical patterns from 2014 to 2017. Should positive developments arise, there is potential for XRP prices to break the $20 mark.

Meanwhile, Litecoin is trading sideways at approximately $104.05, having enjoyed a rally exceeding 20% this week. The cryptocurrency’s 24-hour low and high stand at $101.16 and $104.16, respectively. Additionally, total open interest in LTC futures has decreased by 1% over the past 24 hours, with the current open interest valued at $457.26 million, indicating a cautious stance among traders.