Ripple XRP has replaced Bitcoin in the opinions of many experts for a long time. Various experts have noted that Ripple XRP is better than Bitcoin due to its greater scalability, as well as higher transaction speed. Also, Ripple XRP does not have such problems with the extraction of tokens as Bitcoin. Now another important event has occurred in the digital asset market. Ripple XRP has replaced Bitcoin as the one that affects the growth of other cryptocurrencies thanks to an update from Binance.
Ripple XRP replace Bitcoin thanks to Binance: Details
Ripple XRP has replaced Bitcoin as the one that affects the growth of other cryptocurrencies thanks to an update from Binance. Binance recently announced that it will add the digital asset Ripple XRP and pegging a stable coin as a futures trading pair. Futures trading involves a contract to buy or sell an asset at a specific time at a specified price. Three futures trading pairs had already been added to Binance earlier, and the pair with Ripple XRP was the fourth. The news of this event led to a sharp increase in the cost of Ripple XRP by 10%.
After the price increase, Ripple XRP began to rise in the price of other cryptocurrencies. However, the growth in Bitcoin value was quite slow and not as large as that of Ripple XRP. The important thing in this case is that quite often the value of many digital assets depends on Bitcoin. If the price of Bitcoin rises, then the price of other cryptocurrencies rises. The opposite happens, but not so often. Ripple XRP has previously demonstrated that the position of Bitcoin does not always affect its value. Some experts also emphasized that in the future, this independence of the Ripple XRP will become even more prominent.
Now this opinion has received very clear evidence. Ripple XRP has replaced Bitcoin as the one who influences the entire digital asset market. It was after a sharp rise in the value of Ripple XRP that other cryptocurrencies began to rise in price. Against the background of statements by some analysts that Bitcoin will gradually fall due to the lack of real use for it, the situation looks even more rosy. Thus, this forecast of specialists also comes true. The success of Ripple XRP, which is of real value in the world in connection with the use of money transfer technologies in the technology, after the Binance update also becomes extremely obvious.