Nasdaq’s Global Index Data Service to support Ripple (XRP) index from May 1

Ripple becomes the third cryptocurrency to added to GIDS after Bitcoin and Ethereum.
The XRP Liquid Index (XRPLX) is designed to provide users with spot rate data or reference for rate for XRP price.

John Isige FXStreet

The leading stock exchange, Nasdaq has announced that it will be adding one more cryptocurrency to its Global Index Data Service (GIDS). The announcement was made via its partner Brave New Coin based in New Zealand. The “real-time’ index information is scheduled to take off on May 1.

The XRP Liquid Index (XRPLX) is designed to provide users with spot rate data or reference for rate for XRP price which will be quoted in USD while “based on the most liquid ends of their markets.” In a statement released by Brave New Coin:

“The XRPLX sources data from only the most liquid exchanges by volume and order-book depth…Current constituent exchanges for the XRPLX include Bitfinex, Bitstamp, Poloniex and Kraken with Coinbase to be added in the next review.”

The data reference will be dated back to 2014, besides it is going to be refreshed every five minutes as per the information provided by Nasdaq.

More - Breaking news: Ripple 3% ballistic jump in the wake of Nasdaq’s XRP index launch

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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