Hopes Of XRP Getting Listed On Coinbase And Robinhood Spurred By Binance With wXRP Integration
“Binance has completed the wXRP integration and has opened deposits for wXRP on Ethereum (ERC20). Please find your assigned XRP deposit addresses on Ethereum Network (ERC20) within the Deposit Crypto page.” The announcement reads.
The exchange however noted that while wXRP will be open for deposits, withdrawals on the Ethereum Network (ERC20) were restricted until a later date to be announced. wXRP deposits would hover be credited and traded as XRP.
Enter Cross-chain Functionality
Wrapping entails pegging a cryptocurrency token to the value of another token.
“It’s called a wrapped token because the original asset is put in a wrapper, a kind of digital vault that allows the wrapped version to be created on another blockchain.”
‘When Relisting XRP’?
And while this is a huge milestone for XRP users, some also see it as a stepping stone towards XRP being relisted on Coinbase, Robinhood, and most trading platforms once its legal standoff with the SEC is finalized.
“Wrapped $XRP ( $WXRP) is going to be how XRP initially gets relisted on exchanges first,” tweets one XRP proponent. According to him, Binance listing wXRP is a pointer at what is to come. “With Binance completing their integration, how long do you think it is until Coinbase lists? Technically they’re not selling XRP. Can’t wait for clarity next.” He continues.
With the SEC increasingly losing its battle to Ripple, Binance’s move is also seen as an open defiance to the regulator’s “unfounded claims” while keeping the cryptocurrency afloat until the matter is done and dusted. At press time, XRP continues to radiate strength with price consolidating in the $0.7545 area.