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The XRP trading pair, XRP/BUSD, is set to be delisted on the world's largest crypto exchange by trading volume, Binance.
Binance Margin will delist the XRP/BUSD cross margin and isolated margin pairs on Nov. 23 at 6:00 a.m. (UTC), according to an official notification released by the crypto exchange.
The announcement has an impact on the BNB/BUSD trading pair since it will be delisted from Binance Margin as well.
Binance says it will close users' positions and conduct an automatic settlement before canceling any pending orders on the XRP/BUSD cross and isolated margin pairs on Nov. 23 at 6:00 a.m. (UTC). Afterward, the pair will be removed from Binance Margin.
In light of this, users are strongly urged to close their positions and/or transfer their assets out of margin wallets to spot wallets before the cessation of margin trading on Nov. 23 at 6:00 a.m. (UTC), as they will be unable to update their positions during the delisting process.
This announcement only impacts the XRP/BUSD pair, as users will still be able to trade other XRP trading pairs available on Binance Margin.
Tomiwabold OlajideBinance remains XRP's biggest market, with the XRP/USDT trading pair on the crypto exchange accounting for the largest chunk, or 16% of daily volumes.
The delisting of the BUSD pair comes as cryptocurrency exchange Binance "gradually" discontinues support for the BUSD stablecoin, eliminating it from spot and margin trading pairs.
The decision to discontinue BUSD support comes after stablecoin issuer Paxos was forced to stop minting the token in February. Users have been urged to convert their BUSD tokens into other assets by February of next year.
According to CoinMarketCap data, XRP was down 1.76% in the last 24 hours to $0.639 at the time of writing.
Alex Dovbnya
Dan Burgin