Ripple, presently the third-largest digital currency te the world after bitcoin and ethereum, had an extreme end to 2018. Ter the last few days of the year, the price of XRP climbed dramatically. Te the process, and with tokens trading for more than $Trio each, ripple catapulted past ethereum to become the second-largest cryptocurrency by market cap. (See also: Ripple Shortly Wasgoed 2nd Most Valuable Cryptocurrency.)
Albeit it has since fallen by a significant margin, ter the very first days of 2018, ripple had generated a superb overeenkomst of excitement. (See also: Bitcoin Price Slips Further, Ripple Builds Lead Overheen Ethereum.) Perhaps that is why many investors found it odd when Coinbase announced ter early January that it would not be adding any fresh coins to its service, including ripple. Spil time goes on, however, some investors believe there is still a chance ripple could eventually end up on one of the most popular digital currency exchanges.
Is Ripple Not Being Added Everzwijn, Or Just Not Now?
When Coinbase announced that it would not be adding any fresh digital currencies, ripple’s price fell by about one-third te instant response. Still, tho’, the announcement vereiste be considered cautiously.
Wasgoed Coinbase indicating that ripple would never be added to its toneelpodium, or wasgoed it merely suggesting that XRP tokens would not be available for trade te the near future?
Coinbase, like many cryptocurrency exchanges and even like many digital currencies themselves, has bot perplexed by fresh rente te digital currencies, particularly te the last few months.
Ter mid-December, Coinbase indicated a need for expanding its office space by more than six times ter order to keep up with enlargened request, according to Hacker Noon. Perhaps the lack of infrastructure helped to explain why Coinbase added bitcoin contant to its limited offerings, the addition would help with liquidity and serve to pull back bitcoin’s early bull run.
Bitcoin Metselspecie Spil a Prototype
It’s useful to spend a bit more time looking at bitcoin specie to get a sense of how ripple might eventually come to Coinbase. Coinbase would not wish to waaks investors of its plans to add bitcoin specie to the toneelpodium, spil investors would then buy up spil much cheap bitcoin contant spil they could before the launch, ter the hopes that it would build up upon being added to Coinbase.
The same situation would likely be true for ripple, investors holding ripple when it’s added to Coinbase would likely build up a good overeenkomst of money very quickly. (See also: If You Invested $100 Ter Ripple Te January 2018, What Would You Have Now?)
Coinbase also has to overeenkomst with the fact that, for the time being, it is one of the most popular exchanges for U.S. customers. When ripple wasgoed rallying into the fresh year, Coinbase faced a specie flow shortage spil users rushed to get rid of their bitcoin, litecoin, and ethereum holdings te order to buy up XRP. The metselspecie flow problem, exacerbated by issues with transaction completion, does not reflect well on Coinbase from a publicity standpoint. If there’s a way that they can better control thesis issues when they roll out ripple trading, it’s a safe bet they will.
Investing te cryptocurrencies and other Initial Coin Offerings (“ICOs”) is very risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest ter cryptocurrencies or other ICOs. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties spil to the accuracy or timeliness of the information contained herein. Spil of the date this article wasgoed written, the author wields bitcoin. It is unclear whether he wields other bitcoin forks.