The XRP is showing very good performance, as it posted an increase of more than 10% on Monday. Thedigital asset is trying to break the downward trend encountered in the last two quarters of 2019.
XRP on Binance Futures
According to an announcement by Binance, the XRP is now available to trade as a perpetual forward contract on the Binance Futures platform. The digital asset is paired with Tether (USDT) and users will be able to trade with leverage of up to 75x.
The introduction of the XRP futures contract on Binance Futures has rekindled interest in the token. This perpetual contract is the most important and the most significant for the XRP. Its beginnings have already started to influence the price of digital assets and one can only imagine its impact in the year 2020.
Despite launching just an hour ago, the new perpetual XRP already has thick order books stacked in excess of $ 400 million on both sides, while a volume of 14.4 million XRP over 24 hours has been recorded.
Tutorial: Buy Ripple XRP
XRP is now the fourth cryptocurrency to be added to the Binance Futures trading platform, joining bitcoin digital assets (BTC), Ethereum (ETH) and Bitcoin Cash (BCH).
The course of XRP goes up
As a result of this announcement, XRP has reversed its bearish trend and is now experiencing rapid gains. The XRP course now stands at just over $ 0.21. A positive recovery after the fall around $ 0.18 recently known.
In addition to XRP's current bullish action, the cryptocurrency has been on an almost unrelenting downtrend since June 2019 – having dropped from $ 0.49 in June 2019 to $ 0.181 just two weeks ago.
As is common these days, the price of XRP started to move a few hours before Binance made its announcement, which indicates that the initiates got wind of this new addition at least three hours before it is made public. If this activity had taken place on an American stock exchange, it might have been classified as a insider trading – an illegal practice punishable by law in France.
Binance integrates new functionality with Visa for XRP
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