Brad Garlinghouse, CEO of Ripple, is in the news again advocating adding XRP to the American exchange Coinbase. In a recent interview with Fortune he talked about the advantages for making such a move.
Coinbase announced on June 18 plans for adding and supporting Ethereum Classic (ETC) cryptocurrency to it's platform and has many speculating what coin could be added next.
Garlinghouse latest advocacy was with his interview with Fortune on June 21, 2018. Based on trading volume Coinbase is the largest cryptocurrency exchange platform in the United States.
XRP SECURITY DEBATE
The XRP currency/security debate An ongoing argument in the cryptocurrency community is if XRP currency is a security. Ripple's repeated message is ongoing and repeated again by Garlinghouse. He states that the XRP token is not a security by saying:
"I think it’s really clear that XRP is not a security. XRP’s blockchain, or public ledger, exists independent of Ripple, and would keep functioning even if the company failed; what’s more, XRP tokens serve a technological purpose (facilitating monetary transactions) that traditional securities like stocks do not. XRP also does not entitle its holders to a stake in Ripple the company itself."
XRP price as declined from the $3.75 high to the $0.48 region. The last time the price of XRP was above $1 was in March 2018. The coin XRP follows the overall general cryptocurrency market pattern.
HISTORICAL DATA
Ripple took their chances early in 2018 and offer a multi-million sum to both Coinbase and Gemini in an effort to persuade getting listed on these two exchanges.
This caused disapproval across the crypto community as many people considered that offering money in order to get listed is everything but morally correct.
Financial specialists have pointed out that this is not a strange case at all in the world of stock markets, exchanges and financial business. It is a common business strategy.
Ripple offer was denied. Despite their offer they did not get listed on Coinbase and Gemini.
Despite losing the bids of getting listed on Coinbase and Gemini, Ripple has been doing pretty well with Shift markets partnership, BitForex exchange listing and getting live in Europe with OnePay and Santander bank.
Earlier this year Gemini’s Winklevoss brothers announced that they are planning on adding Litecoin and Bitcoin Cash in the near future, so there are still some implications that Ripple might still get a chance in the future as well.
OPINION AND OTHER SPECULATION
Coinbase might be moving their exchange to Japan, or extending an additional location there. Taking this into consideration, there seems to be an opportunity that XRP might still be an option for this prominent exchange.
If this is actually the case some in the industry argue that the only reason for not having XRP listed on Coinbase due to the US government not approving XRP because of the fact that Ripple makes up for an unlicensed digital asset, Coinbase might accept Ripple in case it is true that Coinbase exchange is moving to Japan.
Some in the cryptocurrency market don't consider Ripple to be decentralized and don't support it. Others like the ongoing marketing efforts, commitment to communicating and development of what is seen as important partnerships which in turn will benefit adoption and bringing this particular project to the masses worldwide.
SOURCES:
Ethereum World News
https://www.coinbase.com/join/5a034297625b200116c8e782Global Coin Report
https://globalcoinreport.com/how-ripple-xrp-might-get-listed-on-coinbase-after-all/Reddit boards, Bitcoin News and Social Media: Twitter, Facebook
#XRP #Ripple #crypto-news #cryptocurrency #SEC #securities #coinbase #gemini #finance #market #business #trading #blockchain #technology #darcykbutcher
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