Binance CEO Does Not Agree with Flock to XRP as a New Standard for Hedging

By Kapil Gauhar

All Crypto markets have undergone a rough patch again. Bitcoin is down by over 15%, which has set the tone for all altcoins. In this department, one notable exception is the XRP price. The value of Ripple’s XRP has sown remarkable stability amid this bearish market. Even this lost the value, though in fast less striking fashion as compared to the rest.

It creates a significant buzz on social media. Some people go far for calling XRP the new standard. It offers some stability but remains prone to volatility like any other asset. The value of this asset declined by over 10% within an hour earlier today. This shows it isn’t the stable hedge traders may be searching for.

Changpeng Zhao, the Binance CEO, isn’t too happy with this XRP buzz. He grows tired of all the ‘shilling’ associated with Ripple’s native currency. Fans of Ripple’s asset expect to see it become a base currency of the Binance exchange. The company hasn’t confirmed any plans to do that the same. Their offered services are performing as anticipated. Also, there’s no reason to change a winning tactic.

Zhao, in a recent Tweet, directly addressed the XRP ‘shills’. He wished to see how many people wanted to put their reputation on the line for this native currency of Ripple. Rather, the responses are mixed, as anyone would ever expect. Many memes were shared, that is something one usually associates with Dogecoin. Even then, one cannot deny that there is some merit in exploring XRP-associated trading options.

Binance remains the biggest crypto exchange to the date. Other firms are attempting to catch up via different efforts. Some smaller exchanges even use XRP as a base currency for trading. Since that is an innovative approach, it’s not something bigger companies are interested in as of yet. That situation can come to the change in the next month or year.