Pancakeswap starts allowing XRP trading on its platform after we saw the Robonomics team entering into a partnership with Anyswap and creating a bridge of $XRT ERC20 to BEP-20 Launch which is what allows XRP trading on the platform as we read more in our latest Ripple news today.
Robonomics is a decentralized open-source platform that is built on the Polkadot and Etehreum network for IoT and robotics. Being founded in 2015, the Robonomics Network became a huge part of the 4th industrial revolution. The goal of the project is to make new systems cyber-related, autonomous economic agents. The XRT token will empower the holders with certain benefits as well like: Staking and liquidity providing on DEXs, governance which will give the users the right to propose changes to the platform and to vote for the ones that are best as well as the ability to pay transaction fees on the IoT dapps built on Robonomics.
The Robonomics team added liquidity to XRP/BUSD pair and opened trading and staking on PancakeSawp for every BSC user. The listing on the DEX of BSC followed by a rise of 10% in the XRT price as per CoinGecko. Trading on Uniswap and Huobi is available as well. Listing on Pancakeswap is only another opportunity to get more benefits for the holders. As Pancake starts allowing XRP trading on its platform, the DAO incentive program expanded even further with staking participants getting a reward of 13 XRT for each 1% of the liquidity pool that is owned by the combined liquidity pool of Uniswap and PancakeSwap.
Trading XRT will lower the fees and higher speed thanks to the Binance smart Chain which is a solution for projects that have problems with high transaction fees and scalability which provide a scalable and cheaper solution. Note that lower fees and higher scalability of BSC mean higher security risks compared to ETH.
As recently reported, Ripple is holding the $0.4200 support level and shows even more positive signs above the US dollar with its price settling above the $0.4500 and the 100 hourly simple moving average. There was a new break above the key declining channel with the resistance close to the $0.4500 on the 4-hour chart of the pair. The XRP/USD pair could start a strong increase if it manages to clear the $0.4800 and the $0.5000 resistance levels.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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