Binance cryptocurrency exchange reported quoting the XRP/USDT currency pair, which has caused the Ripple (XRP) to increase by 8% in only 1 hour. The listing has been great tidings for Binance traders, as the majority of XRP liquidity for Binance was represented by the XRP/BTC pair. The new trading paring facilities traders straightforward entry into a “safe haven” currency that they can resort to in the event of high volatility in the cryptocurrencies market.
Ripple (XRP) rallied 8% in just a single hour today just to come back slightly towards $0.90
CryptoCompare data reported that the XRP rallied 8% in just a single hour in cryptocurrencies markets. In all XRP markets, the volumes rose substantially to $635 million in the previous 24 hours.
Ripple (XRP) is strengthening against fiat currencies
Ripple (XRP) has publicly announced that it intends to expand the liquidity and availability of its proprietary XRP token. In so doing, it has become actively market-driven focusing on XRP to fiat currency pairings.
At the moment of this article, XRP is trading at $0.90, gaining about 2.12% in the last 24 hours. Now, with the aim of supplying a reliable liquidity pool, this, in turn, reinforces the use of the Ripple and the Ripple network solutions.
Binance cryptocurrency exchange XRP/USDT listing might reduce the correlation between Ripple (XRP) and Bitcoin (BTC)
Miguel Vias, Ripple’s XRP Market Manager, was very busy with the mission of strengthening XRP’s markets and narrowing its reliance with Bitcoin (BTC). In only one year, XRP/BTC’s overall share of the cryptocurrencies market has dropped to below 25%.
Binance’s XRP/USDT listing is expected to boost this under 20%, and Ripple’s proponents anticipate that it will diminish the powerful price link between BTC and XRP which exists at the moment.
In conclusion, Binance cryptocurrency exchange has listed the XRP/USDT pair which is expected by the Ripple (XRP) enthusiasts to diminish the correlation between XRP and Bitcoin (BTC).