Ripple Lands the Crypto Holy Grail as Coinbase Makes XRP Trading Live: Next Stop, to the Moon?
Cryptocurrency XRP is Now Being Supported by Coinbase’s Retail Platform
Coinbase continues to expand its support for XPR after listing it on its trading platform a few days ago. Now, XRP will be available for customers on Coinbase that are located in different jurisdictions around the world.
XRP is launching at https://t.co/bCG11KveHS and in the iOS and Android apps within the next 15 minutes. You may need to update your app to properly buy, sell or convert XRP. We will update when XRP is fully live. https://t.co/x2rM5R3S3y
— Coinbase (@coinbase) February 28, 2019
The company is already offering a selection of the most popular coins in the market, including Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH), among others. In a recent blog post, Coinbase informed that they will be supporting XRP at Coinbase.com and in the Coinbase Android and iOS apps.
Coinbase explains that they have received several requests to list other digital assets on their platform. Nevertheless, the company was known for having a very hard listing policy. Until 2018, they only listed four coins, Bitcoin, Litecoin, Ethereum, and Bitcoin Cash (BCH) added at the end of 2017. In mid-2018, Coinbase added support to Ethereum Classic (ETC) and during the second half of the year, they started to list ERC-20 coins such as Basic Attention Token (BAT) or Decentraland (MANA).
XRP is the third largest virtual currency in the market after Bitcoin and Ethereum. It is being used by Ripple in order to power cross-border transactions between financial companies and banks. XRP provides these institutions with a tool to perform fast and cheap transactions that would normally cost more to be processed and would take a longer time to be settled.
Coinbase is currently supporting XRP trading against the Euro (EUR), the US dollar (USD) and Bitcoin.
At the time of writing, XRP has a market capitalization of $13.01 billion and each coin can be purchased for $0.314. When Coinbase added support to XRP, the digital asset spiked around 7%. Nevertheless, it dropped after it and returned to $0.31.
While many XRP fans (XRP Army) might be loving the addition, the listing has become widely scrutinized saying that Coinbase was paid to host XRP by Ripple. Although that has been denied by Ripple.