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Despite what many people in the cryptic space think of Ripple, there is no doubt that it has been proven to be there and even overshadow many of the other "real" cryptocurrencies during this bear market cycle.
In September, while most of the crypto-currencies were hit by low volumes and falling prices, the Ripple community increased the XRP by more than 200% and helped get prices that were not seen from April. 2018. This massive race has also led to Ripple overcome Ethereum as the number two cryptocurrency by market capitalization.
The strong performances implemented by Ripple despite the current bear market bear witness to its growing popularity and relevance within the cryptographic space.
This is probably why Binance recently added XRP as a base pair in their exchange:
We will add a couple of trading pairs with XRP as a short-term quote currency.
And rename the ETH markets in the ALTS market. Running out of space on the user interface.
Merry Christmas!
– CZ Binance (@cz_binance) 24 December 2018
"Binance will add TRX / XRP and XZC / XRP trading pairs with XRP as a quote on the new combined ALTS trading market (ALTS) until 2018/12/24 11:00 (UTC)."
This is a huge milestone achieved for XRP and cryptographic space. As CZ stated, the addition of XRP as a base pair now changes the way traders see altcoin markets. For a long time, ETH has been the single base pair for most Altcoins, and therefore most people have defined the altcoin market in the price of ETH. This is mainly due to the fact that ETH has been used to participate in ICOs in the last two years.
Now with XRP as a base pair, the altcoin market will become more diversified, which represents progress for cryptocurrencies as a whole.
The Rising Volume of Ripple
The addition of XRP base pairs should also help increase the volume of XRP exchanges. Now that traders can trade their Altcoins for XRP, we should see more XRP buyers and sellers in the near future. It remains to be seen whether this will have a positive or negative impact on the price of XRP, but it should certainly have an effect on the volume of trade.
As for the market capitalization rankings, the addition of XRP base pairs can help widen the gap of ~ $ 2 that already exists between XRP and ETH, putting XRP more firmly in the second position behind Bitcoin.
In the end, despite the requests for centralization and the lack of adequate utility, XRP is proving to be a valid cryptocurrency among its supporters. While the other top 10 coins continue to develop their communities and compete for dominance, we could see more base pairs created on important coin exchanges that reach the same level of popularity as XRP.
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