Cryptocurrency Q&A
What is Binance pegged XRP?
What is Binance pegged XRP?
Giulia
Mon Apr 21 2025
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6
answers
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Binance Pegged XRP is a tokenized version of XRP, the native cryptocurrency of the Ripple network, that is pegged or linked to the value of XRP on the Binance exchange. This allows users to trade and transfer XRP on the Binance platform with added liquidity and convenience, while maintaining its value relative to the broader XRP market.
6 answers
HanbokGlamourQueen
Wed Apr 23 2025
The pegging mechanism ensures that each Binance-Peg XRP Token is valued at a 1:1 ratio with the corresponding native XRP token. This ratio guarantees that the wrapped tokens maintain the same value as their original counterparts.
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Valentino
Wed Apr 23 2025
By wrapping and pegging the tokens, Binance has created a bridge between the native XRP token and other blockchain networks, allowing for increased liquidity and ease of use across multiple platforms.
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Valentina
Wed Apr 23 2025
Binance-Peg XRP Tokens offer users the opportunity to benefit from the advantages of the Binance ecosystem while still maintaining exposure to the underlying value of the native XRP token.
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BusanBeautyBlooming
Wed Apr 23 2025
Binance-Peg XRP Tokens represent a unique digital asset that has been specifically designed and issued by Binance.
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Enrico
Wed Apr 23 2025
These tokens are wrapped, meaning they are encapsulated within a different blockchain system to enhance their functionality and interoperability.
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