I think it's meant just to create a pair. I don't know the hard facts but I assume the access pairs to xrp on binance are only like eth/xrp and btc/xrp. With this token it can most likely be paired with almost every coin in their dex. So you can for example "whatever coin on binance" -> xrp pegged token -> xrp. Just another route to access xrp it seems. Idk why its pegged to xrp value opposed to some other value tho.