Ripple’s XRP Price Surges Almost 17% After Coinbase Announcement That It’s Adding More Coins
Ripple’s XRP turned green amidst a sea of bloody cryptos trading in the red. Besides the various achievements that the company managed to flaunt lately, Coinbase’s latest announcement that the exchange is on its way to adding new cryptos triggered the price surge.
The leading U.S. crypto exchange notes that it will soon begin to add more coins to its platform and, in order to deal with regulatory concerns in some countries, Coinbase says that it plans to limit the trading of some cryptos in various locations.
“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with the local law,” Coinbase announces.
Ripple’s fans have been anticipating XRP’s addition on Coinbase for a while
XRP enthusiasts have been waiting and anticipating the addition of their favorite asset on Coinbase for a long time now.
They celebrated when Coinbase included XRP in the list of potential additions on Coinbase Custody, and now the hype is present all over again.
The proof is that after Coinbase released their huge news, XRP went up by almost 17% on CoinMarketCap.
Coinbase Vice President addresses the news
Dan Romero, the Vice President of Coinbase, addressed this huge announcement on CNBC.
“When we talk to customers, their number one request is: add more assets to the platform. And if you look at where we are today, we have five assets on the platform, and there are thousands of cryptocurrencies we don’t support,” Romero said.
— CNBC's Fast Money (@CNBCFastMoney) September 25, 2018
He continued and explained that “So what we’re launching today, and I’m really delighted to talk about it, is listing.coinbase.com. And the new process where we will enable Coinbase to list as many assets that are compliant with local law.”
Coinbase also said that they would be introducing a listing fee and charge crypto projects to list coins on the platform in order to help balance out the legal and operating costs that are involved by the addition of more assets to the platform.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.