Ripple XRP Now Available to Retail Investors on Coinbase and Its Mobile Apps 🚨 This article is 5 years old...
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Ripple XRP Now Available to Retail Investors on Coinbase and Its Mobile Apps
2 min read
Updated: Nov. 7, 2019 at 5:59 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
XRP is now available to retail investors on Coinbase and the Coinbase iOS and Android mobile apps. The move comes shortly after the exchange listed XRP on Coinbase Pro, its trading platform designed for more sophisticated users.
On Feb. 28th, Coinbase announced that users will now be able to buy, sell, send, and receive XRP on Coinbase.com, the exchange’s flagship service catered towards retail investors. The move will provide additional liquidity to the XRP markets and make the cryptocurrency available to a greater number of retail investors, especially in the US.
That said, for many, the listing has had less of an impact on XRP’s price than expected. Usually, when a coin is listed on Coinbase it experiences a sharp increase in price.
There are several examples of this in 2018. 24-hours after listing on Coinbase, 0x (ZRX), Ethereum Classic (ETC), and Basic Attention Token (BAT) were trading up at 15, 14, and 9 percent, respectively. Meanwhile, in 2019, XRP was up less than 4 percent following its listing on the exchange.
Considering that listing has a material impact on the price of a coin, if the cryptocurrency markets are anything like traditional securities then Coinbase may need to follow regulations to prevent insider trading and frontrunning. Moreover, this requires that Coinbase keeps decisions around listings secret until announced to the public.
Yet, trading activity seems to suggest that insider information about the XRP listing was leaked, allowing some traders to leverage the news for profit.
In traditional markets, regulations to prevent insider trading exist to both protect retail investors and to help maintain fair and competitive securities markets. If there was indeed an information leak—or worse, insider trading—then such an incident could increase the perceived regulatory risk of trading cryptocurrency, and consequently, reduce the likelihood that regulated financial institutions will participate in the crypto markets.
Nonetheless, the full listing on Coinbase is positive for both liquidity and access to XRP. The move may also prove advantageous for associated company Ripple, which is using its huge XRP reserves to finance ecosystem and technology development, potentially allowing the company to command a higher price for its XRP holdings as it sells them to institutional buyers.
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In this article
XRP
$0.50587
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
0x
$0.52386
0x is an open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain..
Ethereum Classic
$26.3018
Ethereum Classic (ETC) is a continuation of the original Ethereum blockchain – the classic version preserving untampered history prior to the July 2016 DAO hack..
Basic Attention Token
$0.24996
Basic Attention Token (BAT) is an Ethereum-based token that improves the efficiency of digital advertising by creating a new unit of exchange between publishers, advertisers and users.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
