TL;DR

• Binance is set to introduce XRP/USDT options trading by the end of the week, aiming to improve trading experiences with competitive pricing.
• The company also adjusted its offerings by suspending Solana withdrawals, delisting several altcoins, and adding new assets to Binance Loans.

The leading cryptocurrency exchange continues implementing amendments on its platform “to enhance users’ trading experience.”

According to a recent announcement, Binance will launch XRP/USDT options on Binance Options RFQ on March 11. 

RFQ stands for “Request for Quote” and enables users to ask for option quotes from the company’s OTC Trading Desk. “Users may leverage Options RFQ’s institutional-grade liquidity now and complete large-sized options trades over-the-counter at more competitive prices and zero fees,” Binance explains.

XRP’s price has shown little-to-no volatility after the disclosure, hovering at approximately the same levels observed on March 7. Currently, it is worth about $0.63 (per CoinGecko’s data), a 6% spike on a 7-day scale.

Earlier this week, Binance temporarily suspended Solana (SOL) withdrawals due to “the increased volume of transactions on the network.” The service is expected to be restored on March 9.

Other recent announcements coming from the exchange include the delisting of the popular privacy coin Monero (XMR) and three other altcoins – Aragon (ANT), Multichain (MULTI), and Vai (VAI).

On the other hand, it added Filecoin (FIL), NEAR Protocol (NEAR), Stellar (XLM), EOS (EOS), Injective (INJ), and Alien Worlds (TLM) as new loanable assets on Binance Loans.

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TL;DR

• XRP is on the verge of a significant milestone, hinting at growing adoption and attracting investor interest.
• Analyst optimism points towards a potential price rally for XRP, with expectations of surpassing a crucial resistance level.

Despite not performing as well as other cryptocurrencies, Ripple’s XRP is quite close to blasting through an important milestone.

According to XRPL Services, the total amount of XRP tokens held in accounts is just south of the 60 billion mark (equaling over $37 billion at current rates). The figure represents around 60% of the asset’s total supply. 

The number of addresses with zero balances is 1,595, meaning the stash is distributed between less than 5.1 million accounts. Recall that the 5 million level was surpassed at the start of the year.

Other figures, such as XRP payment volume from one account to another and newly activated accounts, have also witnessed some resurgence. However, executed transactions and the average number of transactions per ledger remain far below the peak levels.

Increasing XRP adoption rate can lead to improved liquidity, meaning large transactions can occur without a significant impact on the valuation. 

It might also enhance the cryptocurrency’s reputation among the general public. Those factors can attract more retail and institutional investors, possibly triggering a price rally.

Numerous analysts remain optimistic that the following months would be highly beneficial for XRP. The X user Dark Defender recently observed certain indicators like MACD (Moving Average Convergence Divergence) and Ichimoku to set a price tag of over $1 reached by the beginning of April. 

Alex Cobb chipped in, too, arguing that XRP could explode to an all-time high in the near future should it surpass the key resistance level of around $0.63.

Those willing to check which seven signs hint that the asset’s value might be gearing up for a serious pump this year, feel free to watch our dedicated video below:

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