Virtual currencies are gaining momentum after months in a bear market. Since April, most of the cryptocurrencies in the market are recovering the value lost during the first part of the year. And Ripple (XRP) is not the exception.
The third most important crypto in the market (by market cap) is being traded around $0.91 and could reach $1. Binance has decided to add the XRP/USDT trading pair which could influence the price in the short term.
As most of the of the cryptocurrencies in the market, Ripple is steadily growing and it could reach $1 per coin in the short term. In the past weeks and months, Ripple has been signing new partnerships and agreements with many different companies from different parts of the world. And now, a new important announcement has been made by Binance, that decided to add the XRP/USDT trading pair to its platform.
— Binance (@binance) May 4, 2018
The information has been released by Binance on May the 4th on its Twitter account. Binance is currently the second most important virtual currency exchange on earth with $2.33 billion dollars of trading volume in the last 24 hours.
The most traded pairs on the platform are BTC/USDT, TRX/BTC, and ETH/BTC, accounting for 24% of the total trading volume at the exchange.
This addition could help Ripple to gain support and be traded over $1 dollar. At the same time, Bitcoin is getting nearer to the $10,000 dollars’ mark. The last time that Ripple was traded near $1 dollar was at the beginning of March, 2018.
Ripple is a virtual currency created for financial institutions that want a reliable and fast alternative to the traditional – and sometimes outdated – banking systems. Be sure to check out Ripple's Blockchain Week in New York City featuring Snoop Dogg.