Binance Japan Introduces New XRP Trading Pair

Binance Japan, a prominent cryptocurrency exchange in Asia, unveils a new XRP trading pair: XRP/JPY, along with three other Japanese yen-denominated trading pairs.

Binance Launches Japanese Yen Denominated Trading Pairs with Fee-Free Campaign

In an official announcement, Binance revealed plans to introduce four Japanese yen-denominated trading pairs to spot trading, effective April 30, 2024, at 5:00 p.m. (Japan time). These pairs include XRP/JPY, ADA/JPY, SHIB/JPY, and SOL/JPY. Additionally, trading bot services for these pairs will be activated concurrently. Notably, the XRP/JPY pair, along with the others, will participate in a fee-free campaign, eliminating maker and taker fees.

Binance Japan Expands Offerings with XRP/JPY Trading Pair to Boost Accessibility

The inclusion of the XRP/JPY trading pair signifies a strategic move by Binance Japan to expand its offerings and cater to diverse user needs. By facilitating direct trading between XRP and the Japanese yen, one of the most traded fiat currencies globally, Binance enhances accessibility and liquidity for XRP investors.

XRP Trading Volume Surges as Price Faces Minor Decline

Tradingview data reveals a substantial trading volume of $1,055,709,401 for XRP in the past 24 hours, marking a 14% increase. Despite this, the XRP price experienced a 0.72% decline, reaching $0.502 at the time of writing. Should declines persist, XRP might find support within the $0.46-$0.41 range, with buyers expected to defend this zone vigorously. Conversely, a breakthrough above the 50-day SMA at $0.584 could signal renewed buyer strength.

Binance Japan's introduction of the XRP/JPY trading pair underscores its commitment to innovation and meeting user demand. As XRP remains a widely traded cryptocurrency globally, the availability of the XRP/JPY pair enhances trading opportunities and market access for investors.