Binance founder Changpeng Zhao (CZ) has clarified that the exchange continued to support XRP trading during Ripple's legal battle with the U.S. Securities and Exchange Commission (SEC). This revelation comes as Ripple anticipates finalizing the lawsuit and institutional interest in the XRP Ledger (XRPL) grows.
Binance's Unwavering Support for XRP
Changpeng Zhao confirmed Binance's long-term commitment to XRP, emphasizing that the exchange never delisted the token despite regulatory pressures.
"Binance never delisted XRP. Users could trade freely throughout the case," CZ stated.
While other major exchanges like Coinbase and Kraken suspended XRP trading for U.S. customers following the SEC's 2020 lawsuit against Ripple, Binance's global platform (Binance.com) maintained support. This decision was likely influenced by:
- Binance operating outside U.S. jurisdiction
- Significant revenue from XRP trading volumes
- Commitment to supporting diverse crypto assets
Institutional Adoption Heats Up for XRPL
Beyond Binance's support, Ripple has attracted growing institutional interest:
- Ondo Finance and Guggenheim leveraging XRPL for tokenized offerings
- Ripple's upcoming stablecoin (RLUSD) with 12 million already minted
- CEO Brad Garlinghouse shifting focus from litigation to innovation
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Garlinghouse remarked: "We're closing this chapter and building the Internet of Value." This strategic pivot coincides with:
- XRP price increasing 4% to $2.19
- Technical upgrades across the XRPL ecosystem
- Potential resolution of SEC's remaining appeals
FAQ: Common Questions About XRP and Binance
Q: Can U.S. residents trade XRP on Binance?
A: Binance.com (global) supports XRP, but U.S. customers must use Binance.US, which delisted XRP during the lawsuit.
Q: What's next for Ripple after the lawsuit?
A: Ripple plans to focus on payment solutions, stablecoin development, and expanding XRPL's institutional use cases.
Q: How did exchanges react to the SEC lawsuit?
A: Many U.S.-facing exchanges delisted XRP temporarily, while global platforms like Binance maintained support.
Q: What factors influence XRP's price?
A: Key drivers include: lawsuit developments, exchange listings, institutional adoption, and overall crypto market trends.
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Market Outlook and Trading Considerations
Recent developments highlight both opportunities and risks for XRP investors:
- Short-term volatility following legal decisions
- Growing institutional infrastructure supporting XRPL
- Competitive landscape from other payment tokens and stablecoins
Key metrics to watch:
- Trading volume across major exchanges
- On-chain activity on XRPL
- Regulatory clarity in major markets
- Adoption by financial institutions
While the resolution of Ripple's case removes significant uncertainty, investors should remain attentive to:
- SEC's stance on other crypto securities cases
- Macroeconomic factors affecting crypto markets
- Technological developments within the XRPL ecosystem
As the crypto industry matures, Binance's continued support for assets like XRP demonstrates exchanges' evolving approaches to regulatory challenges and market demand.