Binance, the world’s largest cryptocurrency exchange, will use Ripple (XRP) to award rewards in its program. According to the analyst, the next directional move is likely to begin after buyers push the price above $0.39 or bears pull the altcoin below $0.29.
Crypto exchange Binance announces XRP rewards
On August 24, Binance announced new rewards in the form of XRP for users who took an online quiz and took ‘learn and earn’ courses. In this context, the crypto pata exchange shared the following on its Twitter account:
Learn crypto, earn crypto. All verified users will be able to complete a new set of online courses and quizzes to earn free crypto!
Learn crypto, earn crypto.
All verified users will be able to complete a new series of online courses and quizzes to earn free crypto!
More details here ➡️ https://t.co/xYVMJb2KPT pic.twitter.com/FXo6QFlVt6
— Binance (@binance) August 22, 2022
cryptocoin.com As we previously reported, Binance DeFi Staking allows users to stake their XRP. Additionally, Binance has added support for XRP, allowing them to earn up to 1.40% APR in rewards. Meanwhile, Binance has announced that XRP has been added as a means of payment with Binance Card. He also announced that through this integration, it has become available to more than 60 million traders worldwide.
On-chain analytics firm Santiment said, “XRP saw significant whale activity during Friday’s closing trading hours. There is high optimism in this context. We’ve had an unequaled $100,000 + XRP surge since May 13. Additionally, sentiment is at its highest level since April.” In this direction, Santiment draws attention to the sensitivity of XRP. Sentiment is at its highest since April this year, according to the analytics firm.
XRP price analysis
At the time of writing, Ripple (XRP) was trading at $0.336, down 1.99% from the previous day. Crypto analyst Tomiwabold Olajide provides the following technical analysis for XRP. On August 17, the bulls failed to push Ripple (XRP) above the overhead resistance at $0.38. This shows that the bears are still holding the level resolutely.
As is typical with range trading, XRP has experienced buying near support and selling around resistance. At $0.29, XRP is likely to offer strong support for buyers to move forward. If the price climbs above $0.29, it means that activity is likely to remain range-bound in the short term.
The next directional move is possible after buyers push the price above $0.39 or bears pull XRP below $0.29. Price action in a range is typically unpredictable and volatile. For this reason, experienced traders often continue to open a position until a breakout occurs.
