Binance Futures has publicized the takeoff of XRP/USDT Perpetual Contract, giving users the advantage of selecting between 1 to 75x leverage, the exchange has said.
As well, XRP price saw a drastic price upsurge to the tune of 7.5% within an hour.
The Binance Futures, which was launched in September 2019, has been gaining users since its entrance into the space. Binance Futures today paired XRP against stable cryptocurrency Tether (USDT).
While some exchanges already have XRP Futures on their platforms, the contract, no doubt, is the maiden XRP/USDT contract on the Binance Futures platform.
Generally, the Binance Futures platform has its maximum leverage of around 125x. The leverage was increased to this level due to the increased adoption of the platform among institutional adopters.
XRP Price Surges by 7.5% in 1 hour
The third-largest cryptocurrency by market cap, XRP, seems to be refuting all criticism against its performance in the market with an impressive display that calls for attention.
Despite cheers given to Bitcoin due to recovery performance, BTC isn’t the best performing cryptocurrency in the market. In fact, XRP has outplaced the leading crypto largely in terms of price growth today.
According to information obtained from Binance exchange, the XRP price surged by 7.5% in just one hour as the entire cryptocurrency market tries to retake its position on the upside trend.
Image Credit: Twitter
At press time XRP is now priced $0.21 cent against the USD after adding about 10% to its value in the last 24 hours, while Bitcoin has barely managed to add above 1% to its value within the same time frame.
As many more glory surrounds XRP, coupled with the fact that analysts have suggested that $0.20 price level is very important for the crypto in making a bullish rally, one can begin to expect positive moves from the cryptocurrency in coming days.