Kraken Says Ripple's Coin XRP Name Is Creating Confusion Among The Crypto Community

    XRP’s Name Generates Confusion Among The Crypto Community; Kraken Included

    The crypto community is still confused regarding Ripple and XRP. Kraken has publicly asked for help in order to understand how to better use the name of the second largest virtual currency. In a recent tweet, Jesse Powell, the co-founder and CEO of Kraken asked Ripple’s CTO, David Schwartz, how to consider XRP units.

    In this tweet, Powell asked whether an XRP unit should be called ‘ripple’ or ‘ripples’ since it is not clear how to consider a single XRP unit.


    In another tweet, Powell said that he found the answer to this issue. He uploaded a picture of an investor update back from January 2013. At that time, Ripple considered that the term ripple (small cap) was used to denote the ripple network. Ripple (large cap) was used to denote Ripple currency or XRPs.

    One of the Twitter users, Nik Bougalis, answered that his position is that the name of the asset is the same as its three-letter ISO-4217 compliant code. In that case, 1 XRP should be considered 1 XRP.

    Powell decided to ask whether Ripple Labs have an official position on the matter or not. The Twitter user Tiffany Hayden answered with a link to a comment made by Cory Johnson, Ripple’s Chief Market Strategist, in which he says that it is currently 2018 and that RIpple is not XRP and XRP is not Ripple.

    In general, Twitter is full of XRP supporters that are very active in this social network. At the time of writing, David Schwartz did not answer the comment made by Kraken.

    The decision of changing Ripple’s name to XRP is due to the fact that the company and the community are afraid of XRP being considered a security. The U.S. Securities and Exchange Commission (SEC) considers Bitcoin (BTC) a commodity.

    On December 29, Kraken announced that it was launching Bitcoin Cash (BCH) and XRP margin trading on its platform. In this way, they are offering margin trading for 8 different assets that include Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Augur (REP), Monero (XMR) and Tether (USDT).

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Binance CEO: Once QE Money Starts Flowing, BTC's Price Will Go Up ‘Very Dramatically'

    “Since coronavirus took over, business-wise the platform is doing really well” - CZ COVID-19, QEg, depression, and countries printing a lot of money...

    South Korean Central Bank to Roll Out Pilot Program to Test CBDC Through Dec 2021

    On April 6, South Korea’s central bank has made the announcement that it started a pilot program for assessing the logistics of a central...

    Former Goldman Sachs Fund Manager Suggests Allocating 25% in Bitcoin

    When Raoul Pal, the former hedge-fund manager who founded Real Vision first learned the coronavirus was spreading rapidly, he thought, “The whole world's f---ed,”. "I...

    PwC Report Reveals 2019's Crypto M&A's Dropped Sharply; Total Value Decreased By 76%

    The 2017 market boom led to the new era of funding in the decentralized space called ICO, however as we entered the bear market...

    How Much New Inflow Bitcoin Needs to Stay at this Price Level?

    For the last 2.5 years, $400 million of new investment each month kept BTC price at $7,000, after halving it would require just...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.