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The XRP trading pair, XRP/BUSD, will delist on the world’s largest crypto exchange by trading volume, Binance.
Binance Margin will delist the XRP/BUSD cross-margin and isolated margin pairs on November 23 at 6:00 am (UTC), according to an official notification published by the crypto exchange.
The announcement has an impact on the BNB/BUSD trading pair as it will also be delisted from Binance Margin.
Binance says it will close users’ positions and perform automatic liquidation before canceling any pending orders on the XRP/BUSD cross and isolated margin pairs on November 23 at 6:00 am (UTC). The pair will subsequently be removed from Binance Margin.
In view of this, users are strongly recommended to close their positions and/or transfer their assets from margin wallets to spot wallets before the cessation of margin trading on November 23 at 6:00 am (UTC ), as they will not be able to update their positions during the delisting process.
This announcement only affects the XRP/BUSD pair, as users will still be able to trade other XRP trading pairs available on Binance Margin.
Binance remains the largest XRP market, with the XRP/USDT trading pair on the crypto exchange accounting for the majority, or 16%, of daily volumes.
The delisting of the BUSD pair comes as cryptocurrency exchange Binance “gradually” discontinues support for the BUSD stablecoin, removing it from spot and margin trading pairs.
The decision to discontinue BUSD support comes after stablecoin issuer Paxos was forced to stop minting the token in February. Users have been urged to convert their BUSD tokens into other assets before February next year.
According to data from CoinMarketCap, XRP is down 1.76% in the last 24 hours to $0.639 at the time of writing.
