Coinbase Pro, the United States-based crypto trading platform and wallet service, is now adding support for Ripple’s XRP token according to its official blog post on Feb. 25.
Thanks to this new listing, Full trading of XRP will be available to customers in the U.S. (NY is excluded), UK, supported European Union member nations, Canada, Australia, and Singapore.
XRP trading will go through four major stages: “transfer-only” “post-only” “limit-only” and “full trading”. Through the first two stages, users will be able to transfer XRP to Coinbase Pro accounts and post limit orders. The other two stages will allow customers to match limit orders and fully trade with XRP.
XRP delay, without answers
Despite being the third-ranked crypto asset by market capitalisation, according to CoinMarketCap.com data, XRP made a long time to be listed on Coinbase Pro. It appears somewhat strange that XRP has taken so long to see listing on Coinbase Pro. According to Crypto Insider, Coinbase received approval, by the end of 2018, from New York for custody services for a number of digital assets, including XRP. Nevertheless, New York is excluded from participating in the new XRP listing, according to Coinbase blog.
Today, Ripple is facing serious accusations of listing its digital asset, XRP, on Coinbase Pro after paying the latter.
Alistaire Milne shared via Twitter his mail with Coinbase’s director of communications:
— Alistair Milne (@alistairmilne) February 26, 2019
However, Miguel Vias, Ripple’s head of XRP markets took to his Twitter to say that Ripple did not pay Coinbase to list XRP. He said:
We’re happy to go on the record. Coinbase’s listing of XRP (also, not “our token”) was Coinbase’s independent decision – we did not give them anything to make it happen. https://t.co/xTVvACqsQa
— Miguel Vias ⚡ (@miguelvias) February 27, 2019
Several months ago, reports were floating around about Ripple trying to buy XRP’s way into Coinbase. In summer 2018, Bloomberg referred to anonymous sources insisting that in the past Ripple had tried paying the Coinbase and Gemini exchanges for them to add XRP pairs.
As an answer for one of the followers saying that the allegation was not substantiated by proof, Alistaire Milne said:
If both companies go on the record that there has been no transference of value in Coinbase’s favor whatsoever (easy to do) I’ll retract and apologise. So far, both are being careful with their choice of words.
Until now, no official comment regarding the allegation from Ripple or Coinbase was released.
Effect on the market:
Just after the announcement of the listing, XRP rose from 0.30$ to around 0.347$. However, since the listing news has broken, the price has actually started falling again, rather than continuing on its upward trend. The reasons are not clear yet. However, it can be related to the lull in the market after the rally, or even the recent accusations.