News XRP Price Expected To Surge Following Binance’s Announcement

XRP Price Expected To Surge Following Binance’s Announcement


- Advertisment -

Binance CEO Changpeng Zhao announced that the crypto exchange would be teaming up with Ripple in order to boost the XRP-powered product xRapid.

Ripple and Binance will team up in the future

CZ said that the two companies have not yet begun to set all the required details for this massive partnership, and for now, Binance will remain focused on launching the Binance Chain and its forthcoming decentralized exchange Binance DEX.

CZ explained that “We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future, we’ll definitely want to add them as a partner.”

Even if there’s nothing solid from the two companies at the time, XRP’s liquidity is surging, and this is due to the partnerships with some important crypto exchanges: Bittrex, Bitso, and Bitstamp.

Boosting xRapid will support XRP

Ripple’s most important product is xRapid, and as you know, it’s aimed at financial institutions.

If the Binance-Ripple partnership becomes a reality, this will without a doubt boost XRP in terms of price, “as Binance is a leading cryptocurrency exchange that has a lot of sway in the ecosystem; thus, many would see it legitimizing XRP somewhat,” according to UToday.

For a long time, Ripple and XRP have been labeled as centralized due to their more traditional and institutionalized way of doing things.

XRP Price Expected To Surge Following Binance’s Announcement

But Binance could definitely allow greater input from the community, according to the same online magazine, and this would lead to an increase in the level of decentralization.

Speaking of decentralization, we recently reported that Bitcoin’s level of decentralization is surging.

A Canadian company that’s working in the financial industry has reportedly conducted some new research that says the following: Bitcoin (BTC) is getting less centralized compared to the early days.



Please enter your comment!
Please enter your name here

Latest news

Top 8 Potential Cryptocurrency Business Ideas for 2021

Which word comes into your mind when you hear or think of the word ‘cryptocurrency’? It might...

3 Important Reasons to Have AML for Cryptocurrency Business

In this article we are going to examine the 3 most important reasons to Have AML for...

Use of Smart Cards in Blockchain App Development

Ever since blockchain technology made a major breakthrough all over the globe, experts and forecasters have been...

IMF: Risk of substitution of domestic money by central banks’ digital currencies

Central banks around the world began looking closely at the issuance of their own digital currencies, known...
- Advertisement -

Ripple: The cryptocurrency that will ‘change’ the world in 2020

Ripple could say he's a child of Bitcoin: In December 2017 Bitcoin hit a record price in...

Spain approves Crypto Holdings disclosure bill from cryptocurrency holders

Spain approves Crypto Holdings disclosure bill from cryptocurrency holders. Spain's government has reportedly approved...

Must read

- Advertisement -

Read Next
Recommended to you