XRP will no longer be called Ripple on Binance
XRP will no longer be called Ripple on Binance
Binance, one of the world’s largest cryptocurrency exchanges, announced it will stop referring to XRP by its former name "Ripple," marking a significant rebranding move that aligns with recent product launches and regulatory developments.
The decision comes amid broader efforts to distinguish XRP from the company that initially developed it. According to Cryptonewsz, XRP will now simply be referred to by its ticker symbol, XRP, across the platform, removing any reference to the Ripple name entirely.
This shift coincides with the upcoming launch of new XRP-related stablecoin, RLUSD. The RLUSD token is pegged to the U.S. dollar and is designed to serve as a bridge for trading pairs involving XRP.
The introduction of RLUSD suggests Binance is doubling down on expanding XRP’s role in liquidity management and cross-border payments while removing any confusion that the token is still closely associated with Ripple Labs.
The change follows years of legal and regulatory scrutiny surrounding Ripple Labs and its association with XRP. In a landmark case, the U.S. Securities and Exchange Commission (SEC) sued Ripple Labs, alleging that the XRP token was an unregistered security. Though a partial court ruling recently clarified that XRP is not a security when sold on secondary markets, the legal saga has added complexity to the public perception of XRP.
As Ripple distances itself from the direct labeling of XRP, platforms like Binance are following suit, reflecting the evolving relationship between the asset and its developer. The rebranding on Binance reflects a strategic effort to disassociate the token from these controversies and emphasize its decentralized nature.
Binance’s move signals an evolution in how major exchanges present tokens to the public, underscoring the need for clarity in regulatory landscapes. As RLUSD goes live, market participants will likely monitor XRP’s performance closely to assess whether the new trading options bolster liquidity and encourage wider adoption.
This rebranding is not just cosmetic but could have far-reaching implications, especially as XRP continues to be used in real-world payment systems and remittances. Observers will be watching for further developments in XRP trading activity, as well as whether other exchanges follow Binance’s lead in distancing XRP from the Ripple brand.
Recall, analysts believe that XRP is looking to catch the altcoin season and has been trading in the green zone since the beginning of the week. However, the concern is caused by some controversy in the company.
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