XRP has been a beacon of stability and tenacity in recent times. The past few days have seen billions being wiped off the Cryptocurrency market. And amidst all this XRP is doing simply the opposite. It has shocked traders in its tenacity as it increases in demand and value. It even took over Ethereum and stood it’s ground to be the second-ranked Cryptocurrency in terms of market capitalization.
A jovial CZ reach out to XRP community
Is it any surprise then the Binance’s CEO Changpeng Zhao, better known as CZ in Crypto world, has finally responded to the positive headlines of Ripple and XRP. CZ asked the supporters of XRP to shill the coin as much as possible hinting that XRP may be next in line as a base currency on the popular Cryptocurrency exchange.
CZ Is known to be fairly jovial on his Twitter, he’s also known to be very much in touch with the community around him, which often leads him to crack jokes at their expense.
He was also responding to suggestions from the XRP fans who believe that doing so would help cushion most altcoins from Bitcoin’s volatility. Additionally, an XRP base currency would allow cheap and efficient movement of value between exchanges.
Ripple the focus of all attention
Ripple has been attracting attention to itself in recent times. One of the most exciting groundbreaking achievement in the recent is when XRP dethroned Ethereum (ETH) to claim the second position in the market. Importantly, Ripple price has remained to be one of the strongest altcoins in the market. It has been able to weather down the widespread declines in the market since mid-last week.
As of now, three Cryptocurrency exchanges support XRP as a base currency. These include Coinfield, Bitrue, and DCEX. If XRP is added to Binance, expect the value of XRP to increase tremendously given the number of transactions that occur on Binance.
Partners continue to grow Ripple’s elite list
The latest addition to the list of Ripple’s partners is CIMB. CIMB Group, the fifth bank in ASEAN adopts Ripple’s tech and enters RippleNet, the company’s network of banks. This will allow the bank to provide its customers with instant cross-border payments.
There is a small, but growing list of cryptocurrency exchanges that have adopted XRP as a trading base standard. Last August, AlphaPoint, a financial technology company that helps companies access the blockchain and make illiquid assets liquid, launched DCEX, a next-generation digital currency exchange for retail and institutional investors that was the first exchange to have XRP as its exclusive base currency.
This Binance’s move could further detach altcoins from the price swings of Bitcoin. And if multiple exchanges add XRP as a base pair, traders could easily utilize the speed of XRP to move value between exchanges.