Binance made a notable statement by keeping XRP listed during the legal complications faced by Ripple with the SEC, reinforcing its market role.
Support for XRP During Legal Proceedings
Binance, led by Changpeng Zhao, confirmed that it kept XRP listed during Ripple's legal issues with the SEC. Unlike other major exchanges that opted to delist, this position helped preserve significant liquidity on the platform. Changpeng Zhao noted: > 'Binance continued to support XRP trading throughout the prolonged legal fight.' - Changpeng Zhao (CZ), Founder, Binance
Impact on Liquidity and Trading
Binance's decision ensured substantial liquidity for XRP, contributing to trading stability compared to platforms where the token was delisted. This action solidified XRP's market presence during legal instability and limited volatility, which was highly appreciated by the trading community.
Future of XRP on Binance
Given the current market conditions, Binance's commitment to maintaining XRP liquidity might stabilize its position despite ongoing legal scrutiny. Historical precedents indicate that Binance's strategy aligns with bold moves in uncertain legal climates, potentially influencing future exchange choices.
Thus, Binance's decision to maintain XRP's listing during Ripple's legal troubles underscores the company's critical role as a key player in supporting market liquidity.
