XRP is indeed rising on Binance, and it's largely due to the recent approval of Ripple's RLUSD stablecoin by the New York Department of Financial Services. This development has sparked optimism among investors, leading to a significant price surge.
In fact, XRP's price has jumped over 7% following the announcement, with some analysts predicting it could retest the $3 psychological level. Additionally, whales have been actively moving XRP tokens to Binance, with over 2.66 billion XRP tokens transferred in the past month alone.
It's worth noting, however, that XRP's price is still experiencing some volatility, and technical indicators suggest that the token may face resistance at the $2.50 level. Nevertheless, the overall sentiment around XRP remains bullish, driven by the positive news surrounding Ripple's stablecoin launch. $XRP