Ripple Strikes to Become Base Currency on Binance

Despite the downfall in most cryptocurrencies this year, XRP kept gaining the value as being one of the most robust cryptocurrencies. In the last week, due to the Bitcoin Cash Hash wars, the market took a nosedive except XRP.

This has made the largest cryptocurrency exchange Binance to consider XRP as its base currency. It means that Binance might pair other currencies with XRP. Additionally, quite a large part of crypto users are connected with Ripple-XRP. The XRP community has played a prominent role to push the popular crypto exchange Binance to make XRP its base currency.

If Binance pairs XRP with the other cryptocurrencies, it may result in a spike in the price of XRP, with positive development. This move will surely consolidate XRP’s position in the crypto economy, making it the second largest crypto by market cap.

Binance CEO’ Tweet, and the Response :

Via Twitter, Changpeng Zhao, the CEO of Binance asked the whole XRP community to “put all their shills under one tweet.” Following the tweet, the XRP fans actually went to cite the reasons to make XRP the base on Binance.

Here, the XRP enthusiast’s tweets prove XRP’s strength as a digital currency. It includes the fact that XRP is already a base on the platforms like XRP United Exchange and the CoinField Exchange. Moreover, XRP is fast and has cheaper transaction fees, and it can attract more users towards trading on Binance. And, most importantly, XRP already holds momentum regarding an active community, with the solutions for cross-border transfers.

On this, the Binance team notes that they need to talk to a key person. Validators are crucial on the XRP network as the Ripple company keeps taking a back seat by ceding its dominance over Ledger’s Unique Node List. Ripple intends to decentralize the network entirely, by the time.

XRP’s Growth :

XRP has become a pretty great choice for those looking for alternatives in the crypto world. Also, XRP is recovering even as Bitcoin and others struggle to remain stable. Remarkably, Ripple has made efforts to increase its customer base over the last months. Also, banks are showing interest in the RippleNet where XRP is a base currency in cross-border funds transfer using xRapid.

Reportedly, during the last seven days, XRP dropped down only about 5 percent, while Bitcoin dropped to 17% and Ethereum saw 25% fall. Apparently, this indicates the positive signs for XRP.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

Related Articles

Back to top button