Ripple XRP available on Coinbase, finally!

After years of murmurs, Coinbase finally announced yesterday that it is integrating Ripple (XRP) into its exchange. In an official blog post, Coinbase announced that it would list XRP on its professional trading platform Coinbase Pro. The exchange has started accepting inbound XRP transfers to Coinbase Pro from January 25, 2019.

XRP is the third largest cryptocurrency by market cap and the news expectedly pushed the price up. At the time of writing, XRP was trading at roughly ₹17.31 ($0.32), up 8.55% in the last 24 hours. Ripple will be initially available for Coinbase Pro users in the US (excluding New York), UK, supported EU countries, Canada, Singapore, and Australia. Additional jurisdictions may be also be included soon.

As usual, the listing will take place in four stages: transfer-only, post-only, limit-only and full trading. It will be listed on Coinbase.com after some days, as is the norm.

Ripple (XRP) is a cryptocurrency focused on international currency exchange and remittances. It has also partnered with a number of international banks, including Indian banks like Kotak Mahindra and IndusInd Bank for testing its RippleNet blockchain framework. Does the Coinbase listing now mean that all rumours of it being a security are laid to rest? We will find out soon!

(Image Credit: Coinbase Blog)