Ripple’s XRP token listed on Coinbase Pro
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Ripple’s XRP token listed on Coinbase Pro

Inferences From the Launch of Ripple-powered Coinone Transfer’s Cross App

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Ripple’s XRP token listed on Coinbase Pro

After many months of lobbying by the Ripple community the XRP token is coming to Coinbase.

The news was announced in a company blog post on Medium.

Token holders can send deposits to Coinbase Pro starting at 10am Pacific today (25 February).

Following it’s usual approach to new asset listings, full trading will begin on Coinbase Pro once there is sufficient liquidity in the order book, beginning with post-only mode. A listing on the consumer-facing main exchange will follow soon after.

Once sufficient supply of XRP is established on the platform, trading on the XRP/USD, XRP/EUR, and XRP/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met. XRP trading will initially be accessible for Coinbase Pro users in the US (excluding NY), UK, supported European Union member nations, Canada, Singapore, and Australia. Additional jurisdictions may be added at a later date.

Full details are available here.

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XRP is 8% higher according to cmc, helped by news of the listing to trade at $0.3296 at time of writing.

The token, which is designed to provide liquidity in cross-border transactions of banks, other financial institutions and corporations, has been much talked about recently in the wake of the announced launch of JPM Coin.

Despite JP Morgan Chase’s crypto move and the threat it might pose to Ripple’s business model, the XRP price held up well since.

Ripple has partnerships with more than 200 financial institutions, including many of the major global banking groups.

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Gary is a cryptocurrency analyst at Interactive Investor, the UK’s second-largest stockbroker. He has been writing professionally about cryptocurrency since 2013, when he initiated bitcoin coverage at Money Observer, one of the UK’s most respected investment magazines. Gary writes for Today’s Gazette in a personal capacity and his contributions should not be taken as investment advice

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