Binance Ratings Calls Ripple (XRP Coin) the Best Performing Digital Asset This Month
Ripple is settling in at the $0.52 price level right now, following both the Swell 2018 conference and the dwindling excitement regarding xRapid. Much of the reason it remains at this price right now is allegedly due to manipulation, but it seems that they still are limited in their ability to reach $0.76 USD as planned. Regardless, Binance has rated it the best virtual money to send and receive funds. They were competing against Bitcoin, Cardano, Ethereum, and Litecoin, Zcash, and other cryptocurrencies.
Despite this rating, there is still a voting period for the company to endure, despite the data showing that is one of the best performers in the market this month. It started around the $0.30 mark, and it is still recovering. However, even though the platform seems to be on a consistent upswing, an old debate has risen again of whether XRP is even necessary to the network at all.
Right now, they are placed at the third-highest ranking for currencies, based on market cap. According to the Binance platform, Ripple has seen an increase of 0.15% since last week. Binance is just one of the many exchanges that are working to help Ripple to get involved with Japanese investors. Ripple’s XRP token has the ability to settle any cross-border transaction within just four seconds, and the fee comes to about 0.00001 XRP each time. Since XRP is considered settlement and liquidity digital asset, it has the power to be utilized in settlements that involve commodities and fiat currencies.
Even though the value of the token seems to be fluctuating between $0.52 and $0.56 at the moment, the daily trading volume from yesterday was around $877 million. It seems that a heavy amount of volume was based out of Japanese exchange Bitbank, which handled about $124 million worth of trading happened against the yen.