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Binance Added XRP to its Dual Investment Products & XRP Price Surging


thenewscrypto.com 04 October 2022 10:11, UTC
Reading time: ~2 m

  • Dual product APR varies from 4% to 179%.
  • Ripple (XRP) price has increased by more than 5.64% in 24 hours.

Binance the largest cryptocurrency exchange in the world by daily trading volume has officially announced that it added Ripple(XRP) to its dual investment product. And the product’s APR (annual percentage rate) also varies from 4% to 179%. Additionally, Binance introduced a new batch of dual investment products with revised settlement dates and target prices so that users can reap the benefits of their sell-high and buy-low options.

Dual investment products let users buy or sell cryptocurrency at a future date and price of their choice without paying any fees. Users who “sell high” would profit from their cryptocurrency holdings or sell their cryptocurrency at a greater price in the future. Users who “buy low” prefer to receive rewards on stablecoin holdings or want to buy cryptocurrencies at a lower price in the future.

According to the official announcement, dual Investing may stop at any time to accept new memberships. Also, before subscription, the APR would alter in real-time as per market moves.

Ripple (XRP) Current Price Move

The court’s success on SEC vs Ripple was the main fuel for the XRP’s remarkable 55% increase. Furthermore, the XRP price has rallied over 21% in the last seven days and more than 42% in the past month. At the time of writing, XRP traded at $0.471290 with a trading volume of $1,948,367,199. XRP price rose by 5.64% in the last 24 hours with a trading volume of $23,517,678,716 as per CoinMarketCap.

Ripple (XRP) price chart (Source: CoinMarketCap)

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