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.
