In fact, after months and months of waiting, the hopes and dreams of XRP investors may finally become true. The exchange confirmed that it is exploring adding support for the second largest cryptocurrency on its platform.
First announced in a crypto press release on Friday, the San Francisco-based exchange revealed that it is adding support for “a broad range of assets” which include the names of 30+ market heavyweight altcoins such as Cardano (ADA), EOS, NEO and Tezos (XTZ).
There have been a lot of talks around the issue of Ripple (XRP) not being listed on Coinbase, even as the company listed smaller cryptocurrencies such as 0x and seemingly more controversial ones such as zCash, which can be used for creating anonymous transactions.
This announcement also follows Coinbase’s decision to revamp its listing process, providing support for a much larger range of cryptocurrency assets. However, currently the word “exploring” is not the same as “listing” which is why Coinbase noted that the company “cannot guarantee” that every cryptocurrency mentioned in the announcement will make its way to Coinbase Pro and Coinbase.com.
As an excerpt from the announcement post stated:
“Adding new assets requires significant exploratory work from both a technical and compliance standpoint, and we cannot guarantee that all the assets we are evaluating will ultimately be listed for trading. Furthermore, our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet.”
At the end of the day, the confirmation that Coinbase is at least evaluating the addition of XRP to its platform is alone a news story that is positive for many investors, especially because of the nature of Ripple and its accusations that the token is “a security issued through illegal securities offering.”
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“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
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