By far, getting a listing on Coinbase wasn’t at all easy as the exchange had only listed the exclusive top five with the exception of Ripple (XRP) that according to allegations seemed to have openly asked for getting listed among Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) which was at the time of the listing ranked as the top 5th currency.
The initial allegations stated that Ripple Labs offered millions to Coinbase and Gemini exchange in order to get listed, but was refused despite, which was later on negated by the foundation
Coinbase as of several months back announced the listing of Ethereum Classic, which is not among the top five or top ten list, which brought ETC to the needed attention, causing it to spike against the market trend as well as change its direction in the technical sense.
Not that long after the Ethereum Classic listing announcement, Coinbase also stated that the exchange is ready to list more currencies, which includes altcoins and newly issued cryptos and assets in order to increase the general adoption of cryptocurrencies.
With this newly established scenario, Coinbase will be accepting free listing submissions, so what does this mean for Ripple (XRP)?
Will Coinbase List Ripple (XRP) after the Announcement of Adding More Cryptos?
Months back there were speculations going around that Ripple foundation is offering millions in order to get a listing on Coinbase, later on negated by the core team so the allegations only remained rumors.
Even if this case was true, it wouldn’t be that strange as Ripple (XRP) is holding the place of the third largest currency for quite some time now, also progressing towards mass adoption of XRP through the announcement of releasing xRapid as a XRP-backed product that the banks should use already by the beginning of the following year of 2019.
Coinbase by far had only listed Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), also adding Ethereum Classic (ETC) as of the recent case of events, which consequently went under the “Coinbase” effect as a consequence.
The same thing happened to Ripple (XRP) although XRP wasn’t even mentioned by Coinbase in one of their announcements where the team behind the exchange stated that they are seriously considering adding 0x (ZRX), Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), and ZCash (ZEC).
All of the mentioned currencies almost immediately went up due to the mentioned statement, followed by another announcement that Coinbase will be adding more cryptos while stating that the exchange will be accepting submissions for listings free of charge.
Coinbase didn’t specifically target Ripple in this case, but many enthusiasts believe that XRP will be listed on Coinbase, especially now when the doors are practically open for all cryptocurrencies that managed to meet the needed criteria.
Even though submission listings are open for all dev teams, Coinbase will keep their high standard as this exchange greatly cares about the regulations posed by the government and SEC, which is on the other hand why some skeptics believe that XRP won’t get to be listed until the Securities and Exchange Commission bring their final decision on the issue of whether XRP stands for a security or currency.
Ripple (XRP): Coinbase Listing Consequences and Results
If Ripple spiked only at the mere speculation that it might be added, the results from actually having Coinbase announcing the addition of XRP could be explosive, consequently sending XRP to the moon.
XRP has already gone through several boosts in the market during the last couple of months, mostly due to the announcement that the foundation will be releasing the XRP-driven product for banks and financial institutions which will most certainly drive XRP to mass adoption.
Further results from the listing would also be mirrored in the increased exposure as Coinbase has around 20 million users as recorded in May of 2018, all looking forward to new listings and more available currencies and assets.
Coinbase is a highly regulated exchange market with a massive user base, thus posing a major factor for price boosts to any listed, or even mentioned token, currency, altcoin, or asset.
But in the end, whether or not will Ripple get a listing on Coinbase depends on whether Ripple foundation will be submitting their form to one of the biggest exchange markets, additionally depending on whether XRP is compatible with the ecosystem that Coinbase represents.