Binance is preparing a partnership with Ripple ? Many in the community XRP are speculating that a list of Ripple's XRPs on the new decentralized exchange (DEX) of Binance could be on the cards.
A photo of Binance CEO Changpeng Zhao and Ethan Beard, senior vice president of Ripple, was published by TechCrunch founder Michael Arrington on Twitter and sparked some serious speculation about a possible XRP list.
– Michael Arrington (@arrington) 16 August 2018
The photo was taken at the Liechtenstein Cryptoassets Exchange (LCX) office, which has just launched a fiat-to-crypto exchange in Liechtenstein with Binance
See also: The CEO of Binance teaser of the next decentralized exchange
Recently, cryptocurrency rating in progress y Weiss ratings became public with support of XRP. According to the agency, the token is the fastest digital resource to transfer funds between the exchanges. "It only makes sense for #Binance to use it as a #currency base," he tweeted the agency.
We believe that #XRP is the fastest digital resource for transferring funds between exchanges. It only makes sense for #Binance to use it as a basis #currency – why should you go through an intermediary currency to exchange? #crypto #btc #altcoins
– Weiss Ratings (@WeissRatings) 10 August 2018
However, Binance Coin [BNB] the native token of the exchange, it will probably serve as the base currency for the next DEX.
@arrington if he went away and convinced them to use XRP as a base.
* this is my speculation between 19659009] but it seems very likely.
– CryptoMan (@CryptoLilze) August 16, 2018
However, a list of Binance could be huge for XRP, which was recently snubbed by Coinbase for a possible listing on its platform. Binance is currently the largest crypt in the world in terms of trade volume, according to CoinMarketCap.
– Thinking Crypto (@ ThinkingCrypto1) August 16, 2018
Diffusion of the adoption of XRP
It is important to note that XRP has already witnessed its adoption in the last days. XRP has recently been listed on Netcoins, a virtual ATM encryption platform, which makes the token available in over 21,000 retail stores.
Bittrex a cryptographic exchange based in the United States, will soon offer US dollar trading for XRP, with plans in place to launch the new pair of dollar exchanges on August 20th.
In addition, Bitcoin Superstore – a crypto-unique store – XRP recently added to the digital coins it accepts as payment. This means that cryptocurrency can be used to purchase products from over 200,000 online stores. Many expect other Ripple partnerships to come to light in the days ahead.
See also: Ripple addresses China for blockchain-based cross-border transactions; expects further expansion
XRP is currently the third largest cryptocurrency, with a market capitalization of nearly $ 11.8 billion, CoinMarketCap data showed.
The currency, starting from 1812 GMT, had increased by 0.2 percentage against the US dollar to trade around $ 0.30. The digital asset suffered a significant loss in value during the recent downtrend registered in the encrypted market. However, the token could be on the road to recovery.
And speculations regarding a possible listing on what is currently the largest encrypted exchange in the world – Binance – will only feed interest in the token and could increase its price.
Image via Shutterstock
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