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XRP receives support from Binance’s Trust wallet

Namrata Shukla

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XRP receives support from Binance's Trust wallet
Source: Pixabay

Binance, the largest cryptocurrency exchange in the world, was down due to a scheduled update, during which people started speculating the possible addition of XRP to Binance. However, it is now official that Binance’s Trust wallet has added support for XRP.

The total number of cryptocurrencies supported by Binance is 17, giving tough competition to Coinbase Wallet. In order to stay in the league of such competitors, Trust Wallet features a DApp browser, which is compatible with ERC-20 token.

Apart from extending support to the third largest cryptocurrency, Binance also integrated credit card support to allow convenient purchase of cryptocurrencies. The exchange took this step after it partnered with Simplex, a payment processor, making Trust wallet among the very few wallets to have credit card support. The announcement from the exchange did not mention the fees or any specific card that can be used. As reported by Coindesk, Viktor Radchenko, founder of Trust Wallet, said:

“We want to increase access to crypto and decentralized applications for all users. Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.”

Binance’s wallet aims to integrate with its upcoming decentralized exchange. This decentralized exchange is scheduled to go fully live in Q2, 2019. Trust wallet will be Binance’s native wallet and will enable users to make trades while holding the cryptocurrencies.

The wallet has numerous plans for 2019, including the addition of support for more cryptocurrencies, as well as adding integration for hardware wallets, which could be a better way of securing cryptocurrencies.





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XRP

XRP interest on the rise as analysis shows formation of a ‘quadruple bottom’

Akash Anand

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Source: Pixabay

The cryptocurrency market has been subject to a significant bull run that has not only catapulted the prices of digital assets, but also their corresponding market caps. XRP, the third largest cryptocurrency, had more of a rollercoaster ride rather than the sudden surge enjoyed by Bitcoin, with the coin trading at a 6-month high, at press time.

A recent analysis conducted by DonAlt, the popular cryptocurrency enthusiast, pointed out the dips in the one-day chart of XRP. His tweet read,

“$XRP update:
A lot of interest in XRP. Kind of looks like a quadruple bottom / head and shoulders.
Not the biggest fan of longing those. If there is one lesson 2018 taught everyone is support is only support for so long.
I’ll be watching this one from the sidelines.”

Source: Twitter

Source: Twitter

There was also speculation that it was a good time to buy into XRP when there is a violent reaction at the lows, while going long previously was a risky decision. Previous readings of the XRP graph have shown that any squeeze in the XRP graph will result in a full retracement. Since May 2019, the cryptocurrency grew from $0.28 to the current trading price, which was more than a 100 percent increase.

At the time of writing, XRP was trading at $0.467, with a total market cap of $19.89 billion. The cryptocurrency was growing at a rate of 1.13 percent, with a 24-hour market volume of $42.57 billion.

XRP was in the news recently after its related application, XRP TipBot, came back online after a small downtime. Wietse Wind, creator of XRP TipBot, had tweeted,

“Oops! Sorry! Infrastructure blip. Really easy fix but I enjoyed an offline afternoon with my girls 😇 So I only found out after some time, when I checked my phone. Monitoring, messages, calls 😇 Social media tips went through during the downtime. Sorry!”





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