Is Ripple’s XRP boarding the world’s largest crypto exchange Binance?
A photo of Binance CEO Changpeng Zhao and Ethan Beard, senior vice president at Ripple, was posted by TechCrunch founder Michael Arrington on Twitter and has sparked some serious speculations regarding a possible XRP listing.
— Michael Arrington (@arrington) August 16, 2018
The photo was taken at the office of Liechtenstein Cryptoassets Exchange (LCX), which just launched a fiat-to-crypto exchange in Liechtenstein along with Binance.
Recently, cryptocurrency ratings agency Weiss Ratings went public with its support of XRP. According to the agency, the token is the fastest digital asset to transfer funds between exchanges. “It only makes sense for #Binance to use it as the base #currency,” the agency tweeted.
We think that the #XRP is the fastest digital asset to transfer funds between exchanges. It only makes sense for #Binance to use it as the base #currency – why should one have to go through an intermediary currency to trade? #crypto #btc #altcoins
— Weiss Ratings (@WeissRatings) August 10, 2018
However, Binance Coin [BNB], the exchange’s native token, will probably serve as the base currency for the upcoming DEX.
@arrington has only gone and convinced them to use XRP as base.
*this is my speculation btw
but looks very likely.
— CryptoMan (@CryptoLilze) August 16, 2018
Nonetheless, a Binance DEX listing could be huge for XRP, which was recently snubbed by Coinbase for a possible listing on its platform. Binance is currently the world’s largest crypto exchange in terms of trading volume, according to CoinMarketCap.
— Thinking Crypto (@ThinkingCrypto1) August 16, 2018
XRP adoption spreads
It is important to note that XRP has already seen its adoption pick up in recent days. XRP was recently listed on Netcoins, a virtual crypto ATM platform, making the token available in over 21,000 retail stores.
Bittrex, a U.S.-based crypto exchange, will soon offer U.S. dollar trading for XRP, with plans in place to launch the new USD trading pair on August 20.
Moreover, Bitcoin Superstore – a crypto-only store – recently added XRP to the digital coins it accepts as payment. This means that the cryptocurrency can be used to buy products from over 200,000 online stores. Many expect more Ripple partnerships to come to light in the days to come.
XRP is currently the third largest cryptocurrency, with a market cap of close to $11.8 billion, data from CoinMarketCap showed.
The coin, as of 1812 GMT, had inched up 0.2 percent against the U.S. dollar to trade at around $0.30. The digital asset saw significant loss in its value during the recent bear run seen in the crypto market. However, the token could be on the road to recovery.
And speculations regarding a possible listing on what is currently the world’s largest crypto exchange – Binance – will only fuel interest in the token and could likely boost its price.
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- Ripple’s XRP ‘isn’t a competitor’ since it ‘isn’t really a Blockchain technology’: Ethereum co-founder
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