u.today
Binance Japan, one of the leading cryptocurrency exchanges in Asia, has announced the addition of a new $XRP trading pair: $XRP/JPY.
In an official blog post, Binance says it will be adding four Japanese yen-denominated trading pairs to spot trading beginning April 30, 2024, at 5:00 p.m. (Japan time). These are $XRP/JPY, ADA/JPY, SHIB/JPY and SOL/JPY. Trading bot services for the said trading pairs will also be enabled on this date.
The $XRP/JPY pair, along with the Japanese yen-denominated trading pairs mentioned above, will be eligible for the current buy-and-sell transaction fee-free campaign, which waives both maker and taker fees.
The listing marks a big move for both the exchange and the larger $XRP community because it increases accessibility and liquidity for investors wishing to trade $XRP against the Japanese yen.
The introduction of the $XRP/JPY trading pair on Binance Japan reflects the exchange's commitment to expanding its offerings and catering to the diverse needs of its user base.
With $XRP being one of the most widely traded cryptocurrencies globally, the addition of the $XRP/JPY pair allows users to trade $XRP directly against the Japanese yen, one of the world's most traded fiat currencies.
$1 billion worth of $XRP traded in last 24 hours
According to CoinMarketCap data, $1,055,709,401 worth of $XRP was trading in the last 24 hours, representing a 14% increase.
At the time of writing, the $XRP price had dropped 0.72% in the last 24 hours to $0.502. If declines continue, $XRP might fall to the strong support zone of $0.46-$0.41. Buyers are anticipated to defend this zone with all their might, as a break below might send the $XRP price to $0.35.
Buyers may build power during the breakout if the price recovers and closes above the 50-day SMA at $0.584.