Ripple Coinbase Listing Rumors – Will Coinbase List Ripple?

Two hot topics that are always surrounding Ripple is the rumors around its potential Coinbase listing and its support of regulations and centralization.

Ripple Coinbase Listing Rumors

There are rumors going around that Ripple’s token, XRP, will have a listing on Coinbase, the cryptocurrency exchange which is synonymous with trading within the U.S. and on a global scale.

This is not the first time that there were rumors about Ripple and it’s XRP token finding a listing on Coinbase.

The rumors remain unaffected by the comments which Coinbase released yesterday, March 5, where the exchange stated that it has made no confirmed decision on adding any “additional assets” to its listing.

“We have made no decision to add additional assets to either GDAX or Coinbase.” Part of Coinbase’s tweet read.

 

The Ripple Coinbase Listing Rumors Continue – Will Coinbase List Ripple?

Despite the aforementioned statement, the industry remained rife with the rumors of Ripple’s inclusion to Coinbase throughout yesterday, which caused XRP to close at a recorded high of $1.08, surpassing the value of $1.03 from the day before – a number that the XRP had not achieved since February 23.

What is adding to the strength of the rumors is the appearance of Ripple’s CEO, Brad Garlinghouse, along with Coinbase’s President and Chief Operation Officer, Asiff Hirji, on CNBC’s popular business program “Fast Money” today, March 6th.

While Ripple had not commented on the efficacy of the Coinbase listing rumors to CNBC, the marketed appearance is bound to shed some light on the rumors. It could either be an announcement to have Ripple listed on the cryptocurrency exchange, or just a flat out and clear negation of them by both Garlinghouse and Hirji.

If it ends up being another ambiguous appearance, then it is certainly going to create more speculation among Ripple traders, and the price of Ripple could then go either way.

Garlinghouse on Regulations

The one thing which noticeably puts Ripple in a different light as compared to the other cryptocurrencies under Coinbase’s listing – namely Bitcoin, Bitcoin Cash, Ethereum and Litecoin – is its’ open support of government regulations.

Since most of Ripple’s partnerships are with major financial institutions and banks all around the world, it also follows regulatory guidelines wherever applicable while executing its blockchain powered cross-border payment solutions, which sometimes involve the direct usage of its XRP.

Garlinghouse has also stated on numerous occasions that Ripple’s aim is to bring cryptocurrency to the mainstream, and if the XRP has to follow government guidelines in the process of achieving that objective, then Ripple would not go against them.

The same approach has so far led Ripple to join hands with institutions such as MoneyGram, Western Union, as well as the Bank of England – the central bank of the U.K.

Garlinghouse and Ripple do seem to be strong proponents of regulations, possibly making them unique in this cryptocurrency industry that some call the new wild west.

Ripple regulations and centralization, double edged sword

On the other hand, this method of operation has earned Ripple negative points from that segment of cryptocurrency community which thinks that Ripple has strayed away from the very concept of decentralization – which many believe is an integral part of cryptocurrencies. Said segment points out that Ripple is not just controlling its blockchain network but is also working against the ideology of cryptocurrencies, which had originally been to be out of any government control.

That being said, Ripple’s current strategy is clearly working in the company’s favor for now. It remains to be seen how it gets to be received in the future on a wider scale, and if the concept of a “centralized cryptocurrency” garners more positive attention than its decentralized counterparts.

 

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By | 2018-06-13T16:15:10+00:00 March 6th, 2018|Cryptocurrency News|0 Comments

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