- Binance added XRP to its list of Dual Investment products and published an official blog post to announce the new listing.
- XRP holders are awaiting the US Securities and Exchange Commission’s next move.
- Analysts believe XRP price is on track for a 25% rally in the ongoing bear market.
Binance, the world’s largest exchange by volume, added XRP to its list of Dual Investment products. The exchange announced the launch of the product on its official blog and informed users about a fresh batch of dual investment products with revised target prices and settlement dates.
Also read: Why Joe Biden is speeding up crypto regulation in the US
Why addition of XRP to Binance Dual Investment products matters
Binance users can buy cryptocurrencies at a lower price and sell them at a higher price in the future through dual investment products. The world’s largest exchange by volume has added XRP to this list and this allows users to earn a high yield during the subscription period irrespective of the direction in which the price moves.
Binance currently offers two types of dual investment products, buy low and sell high. The new XRP product is available for trade on Binance from October 4, 10:00 UTC and the subscription format is first come first serve. The Annual Percentage Rate (APR) for the product ranges between 4% and 179%.
The official announcement noted that the product may stop accepting new subscriptions at any moment.
XRP holders are awaiting updates on the ongoing SEC v. Ripple case to identify the direction in which the altcoin’s price will move. The latest court ruling lacks updates and comments and the general sentiment among holders is bullish.
David Gokhstein, an XRP proponent and crypto educator, believes Ripple is closer to a win in the lawsuit.
Analysts predict 50% rally in XRP price
Analysts have evaluated the Ripple price trend and predicted a breakout in the altcoin. Yashu Gola, a technical analyst at Cointelegraph, believes XRP price could post a 50% rally. If XRP breaks past its multi-year descending trendline resistance, the altcoin could target the $0.57 level.
Gola believes XRP price is likely to run up toward the next Fib line near $0.72 level.
XRP-USD price chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.