Ripple Hopes New Binance Pairs Can Give XRP Price Boost

Key Takeaways

• Ripple’s value has remained in a narrow range between $0.60 and $0.644 over the last month.
• Binance introduced additional trading pairs for XRP, such as with the stablecoin USDC, potentially enhancing its liquidity.
• The trajectory of XRP remains unclear, yet it may experience shifts in the upcoming year.

Ripple’s native cryptocurrency, XRP , recently made a second attempt within two weeks to breach the $0.644 resistance level, marginally succeeding at $0.645.

This development has garnered attention, especially after the Binance crypto exchange announced  updates that add complexity to XRP’s narrative.

Binance’s Latest Additions

At the time of writing (January 2 2024), XRP is valued  at $0.637. Despite positivity surrounding Binance’s introduction of new trading pairs, XRP has yet to experience a significant price rise.

Binance revealed  its intention to launch ten new cryptocurrency pairs, featuring prominent cryptocurrencies including Ripple, Cardano (ADA), Avalanche (AVAX), and Solana (SOL). These pairs will be tied to USD Coin (USDC) and will become accessible starting December 28. For Ripple, pairing with the second-largest stablecoin may boost its liquidity and attract additional investors, which could positively influence its price.

Following its mid-November decline, XRP has mostly fluctuated between $0.60 and $0.644. Efforts to surpass this resistance level have so far been fruitless.

Future Outlook for XRP

Current technical analysis indicates that XRP is undergoing a consolidation phase. Its recent failure to break past the resistance level suggests this may continue.

Looking forward to the New Year amid discussions of a potential spot Bitcoin ETF approval, XRP could experience shifts in its trajectory. There’s potential for XRP to cross the $0.644 threshold, possibly reaching up to $0.70. Nonetheless, the course of this digital asset will be heavily influenced by major market participants and bullish market strategies.

About the Author

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.

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