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Breaking: XRP Price Predicted to Rise as Binance Plans to Partner with Ripple

  • Jack Thomas
    🤷 Opinions

    Binance CEO Changpeng Zhao says they will definitely partner with Ripple to boost its XRP-powered xRapid.


Breaking: XRP Price Predicted to Rise as Binance Plans to Partner with Ripple
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Speaking in his first ever live stream, Binance CEO Changpeng Zhao has said that the leading cryptocurrency exchange will definitely partner with Ripple to boost its XRP-powered xRapid in the future.

It is still in the early days for this potential partnership, with this only being the first signs of a partnership and there being no signs of any details coming forward from any side. But it is hugely promising for Ripple and their payment solution, which is gaining its own traction in banking institutions.


However, even though there is nothing solid yet from the two, Binance is already helping boost liquidity for xRapid by partnering with crypto exchanges Bittrex, Bitso, Coins.ph and Bitstamp. These exchanges make it possible for financial institutions to convert their local currency to XRP and send the digital asset to another country, where it’s immediately converted back to fiat.

We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future we’ll definitely want to add them as a partner Zhao said on Periscope

A boost for xRapid is a boost for XRP

While XRP is the native token from Ripple, its major product aimed at financial institutions is currently xRapid. Ripple developed xRapid to be a regulatory-compliant way for international companies to move money without having to park fiat in bank accounts around the world.

It is the product they are basing most of their partnerships with banks on, and a big boost would be if an exchange like Binance came on board from the crypto-side of things.

If this partnership was to go ahead, there would no doubt be a huge boost for XRP in terms of its price as Binance is a leading cryptocurrency exchange that has a lot of sway in the ecosystem; thus, many would see it legitimizing XRP somewhat.

XRP and Ripple have come under scrutiny from the cryptocurrency community in the past because of their more traditional and institutionalized way of doing things, often labeled as centralised.

However, Binance would allow greater input from the community and cause a demand for the token, which would further distribute it and increase the level of decentralisation.

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XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?

  • Jack Thomas
    🤷 Opinions

    XRP is seeing some good gains, but could it be because Forbes has listed it among other major billion dollar companies in blockchain?


XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?
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Contents

Ripple, and its XRP token, have always had a hard time being taken seriously by the Bitcoin maximalists and other ‘true’ crypto aficionados. The company has been focused on partnering with banks, which has been for a long time the scourge of the crypto market.

However, there has been a change in the sentiment around cryptocurrency and blockchain, with media houses like Forbes calling 2019 the year of enterprise blockchain, and one of rebuilding after the speculative boom and bust in 2017/2018.


Forbes has now produced a prestigious list of 50 enterprise business valued over $1 billion that are doing good things with blockchain and crypto, and Ripple is one of the few startups that are on the list. Ripple finds itself in the company of businesses like Microsoft, IBM, BP, Amazon and other multinational conglomerates.

A reputation boost?

So, while XRP and Ripple have been mostly viewed with suspicion within the cryptocurrency community, it could be that their appearance to the mainstream through the lense of Forbes is a lot better and brighter.

The blockchain list by Forbes is intended to inform about how much enterprise use of blockchain is actually going on from major companies, and some companies many would never have thought were involved in the technology.

There is no doubt that it is a boost for the technology underpinning cryptocurrency, but it would seem that even the XRP token is receiving a boost from this unearthing of institutionalised interest.

Price prediction?

This legitimizing boost has been reflected in XRP’s increase in value of over six percent, but looking ahead, it appears as though there is chance for a bigger boom.

This upwards move firmly established XRP’s support level around $0.32, so one analyst believes that it may continue surging towards $0.48 in the near-future.

Ryan W, a popular cryptocurrency analyst, spoke about this possibility in a recent tweet, noting that XRP does face resistance levels at $0.38, $0.44, and $0.50, but also explaining that he expects the crypto to garner enough upwards momentum to break above at least two of these resistance levels with a price target set at $0.48.

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