For those waiting to buy, sell, send and receive the Ripple (XRP) on Coinbase, good luck. Ripple investors have been waiting for weeks for the Ripple to be launched on Coinbase in early 2018 and potentially give the currency a major shot in the arm. We expect getting clarity on its release. It is widely believed that 2018 would be a stable year for cryptos after their rally last year. Some, however, are expected to continue their growth thanks to the partnerships, tech upgrades, and listing on more exchanges.
Ripple (XRP) is one of the cryptos that has the potential to make some huge moves after breaking records last year. The currency’s latest price rally can be attributed to its greater acceptance by banks and credit card companies. It has surpassed Ethereum to become the second largest cryptocurrency in terms of market value which stands at $87 billion. XRP attained an all-time high of $2.80 on December 30th and started the New Year trading at $2.25.
Recent reports have revealed that Ripple will join the likes of Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on Coinbase. For a crypto to succeed, it needs to be accepted and have easy access. The easier it is for users to purchase something the higher the demand will be, and this will, in turn, increase its value. Coinbase has a reputation for making it easier for users to invest in cryptos using their fiat currencies.
Ripple (XRP) is the most in-demand crypto at the moment, with the Coinbase acceptance looking very much likely. The blockchain of Ripple is superior to that of Bitcoin in aspects like speed and price. Thus it is a better alternative when it comes to trading. Transaction verification and speed have become very slow, sometimes taking hours. Added to that, transaction fees are high, sometimes up to $30 for bitcoin. Compare that to the meager $0.0004 per transaction that Ripple charges, it becomes a better option.
The CEO of Coinbase during an interview with CNBC stated that the platform would add more altcoins this year. This is the most compelling evidence that Ripple will be added to the platform.
If the case of Bitcoin Cash is to be considered when it was listed on Coinbase, it is safe to say that a similar price spike is slated for Ripple. The price of Bitcoin Cash went up from roughly $1,900 to over $4,100 in two days. Thus it is expected that the price of Ripple will reach $5 after the move has become official.
At the moment, Ripple (XRP) is still maintaining last week’s surge. Its 24-hour volume is a little above $2 billion, with Bithumb responsible for 38% of those transactions.