World’s largest crypto exchange Binance has announced the delisting of the XRP/MXN trading pair, scheduled for April 24. At first glance, the news suggests that Binance is cutting off a fiat route for XRP in Mexico, but a closer look at the data reveals the exchange is removing an uncompetitive segment.
Current market data from CoinMarketCap explains Binance’s decision better than any press release. A comparison of XRP performance against the Mexican peso reveals total dominance by the local player, Bitso.
Why XRP/MXN delisting on Binance is actually a win for Ripple’s partner Bitso
Daily trading volume on Binance stands at a modest $2,868, while Bitso processes more than $2.23 million. In addition, Bitso holds about $776,000 in liquidity within 2% of the price. Binance barely exceeds $2,400 in this metric, making large-volume trading on the platform impossible without severe price slippage.
Strategy CEO Le Explains Why BTC Price Doesn’t Matter; XRP Targets $1.9 as SuperTrend Flips Bullish, Analyst Signals; $292 Million DeFi Hacker Escapes to Bitcoin – Morning Crypto Report
‘Breath of Fresh Air and Sanity’: Ripple CEO Heaps Praise on New SEC Head
Binance’s exit from this narrow segment does not weaken XRP’s position. It highlights the effectiveness of Ripple’s strategy in the region, as Bitso is not just an exchange but a key infrastructure node in the Ripple Payments system. The massive gap in trading volumes, 770 times higher than Binance, confirms that Bitso successfully acts as a liquidity bridge for cross-border transfers between the United States and Mexico.
While Binance attempted to attract retail participants to the XRP/MXN pair, Bitso integrated the asset into the real economy, enabling instant conversion of dollars into pesos through XRP. Binance remains a global hub for speculative trading in USDT pairs, but local fiat corridors are now mostly handled by Ripple’s strategic partners.
Users running trading bots on Binance must close XRP/MXN positions before 03:00 UTC on April 24. For real payments into Mexico, Bitso continues to provide the deepest liquidity and the most stable pricing.
Source: https://u.today/binance-cuts-xrp-pair-with-mexican-peso-as-ripple-partner-bitso-dominates-the-region-by-77879
