Ripple’s Coin XRP Remains Most Stable Amidst Brutal Bear Market as Binance Shares Base Pair Notion
The cryptocurrency sector is currently facing a brutal bearish attack –possibly the fiercest it’s seen in years.
As a result, the big dogs like Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Stellar Lumens(XLM), and Tron (TRX) have lost over 10 percent of their value in the last week. In fact, Bitcoin (BTC) has had a seen its value plummet to less than $4,500 in that time.
Nevertheless, this current bearish market seems to favor Ripple (XRP), as it’s seen a 10 percent jump in value.
This upshot combined with Ethereum’s price drop has seen that cryptocurrency move to the second largest cryptocurrency by global rating and market cap, superseding ethereum’s value and trade.
At the time of filing press report, the XRP coin was being traded at a moderate price of $0.49 with a closing deal that is equal to $19 billion, while its 24 hour trade volume has been above $1 billion.
It is also reported that all through the day, XRP went through series of rough price movements, with its lowest recorded trading price at $0.43. After these fluctuations, however, the XRP was able to rebound, taking back its position as the second highest valued crypto in the market for now.
At a point, the crypto jumped to $0.51 and closed at that price, momentarily increasing its value to $20 billion. While it’s come down from that price, its price fluctuations haven’t been too severe.
The XRP coin has maintained its strong pace by maintaining a price range that has been fluctuating between $0.43 and $0.47. As a result of this performance, more users are clamoring for the addition of Ripple as a base pair on Binance, the world’s second biggest crypto exchange.
The company too has been in serious discussions with the aim of being registered and included as an alternative pair on the same platform.
Binance’s CEO, Changpeng Zhao posted a tweet to that effect, with the aim of gauging public interest. According to tweet:
‘’The XRP base seem to have more value. We just need to remove it from your system and let us bring the total of your shills all in one tweet in order to determine how much we can make in the end’’.
To which a committed fan of blockchain and a follower of XRP replied and said:
‘’The second largest cryptocurrency asset which was recognized by global rating is not seen or presented as an alternative pair on Binance. There is a better opportunity that can greatly assist in giving your clients more value’’.