Is Ripple on Coinbase set to send XRP back up to the $1 mark? Let’s take a closer look.
Last month, Coinbase Custody announced that Ripple XRP was to be added for custodian services. At this same time, the exchange also leaked news that the USDC stablecoin was also set to hit the platform.
But what does this mean?
Well, it means that USDC is to be the first open fiat stablecoin in the industry. In case you might be asking yourself, this will also mean that customers can tokenize and redeem their USDC into dollars using Coinbase.
As for Ripple, it meant that XRP was to be listed on Coinbase, sooner or later.
Getting Ripple on Coinbase as “Quickly As Possible”
Needless to say, centralization means that Ripple is not the most popular institution among cryptocurrency enthusiasts. However, there is still a very solid community behind the project and the token is sure to be popular on Coinbase.
In fact, Ripple XRP made a 6% gain today amid speculation about this inclusion on Coinbase but most investors still seem reluctant given the recent decline of Bitcoin.
Here’s what Coinbase Custody had to say about Ripple XRP two months ago:
“Coinbase Custody is exploring the addition of many existing and forthcoming crypto assets for storage only, and will be working to add them as quickly and safely as possible. At this time, we have not yet considered these assets for trading. We are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets.”
That being said, there is yet to be full confirmation of Ripple XRP being added to Coinbase and Stellar Lumens is another cryptocurrency widely expected to feature. Either way, new digital assets are sure to be added as we progress and with more than 6% gains today, who knows what will happen if and when Coinbase provide confirmation.
At the time of writing this article, XRP was at $0.4922 with a market cap of $19.8 billion.
Writers Disclosure: I am not a financial analyst. The above article was written based on views and opinions from various online sources. Derek Cullen is a freelance cryptocurrency writer who creates interesting content for small businesses. You can hire Derek to write for your website here on Deadly Content.