XRP Adoption Intensifies: The Coin’s Price Is Boosted After Coinbase Opens Up XRP Trading For Residents In New York
The whole crypto market has been in the green these days, as Bitcoin witnessed a parabolic run.
XRP has also managed to move from its constant price of about $0.30, and it was also the best performing coin in 24 hours with a surge of about 20% which was higher compared to any 100 top coins.
Coinbase launched trading support for XRP for New Yorkers
One of the reasons for which there was a boost in XRP’s price is believed to be the fact that Coinbase launched trading support for XRP for New York residents.
The company tweeted the news this Monday and said that New Yorkers could “buy, sell, convert, send, receive or store XRP on Coinbase.com or via its iOS and Android mobile apps.”
On the other hand, it’s also important to note that the surge coincides with bullish moves from BTC in the last days.
Coinbase has initially added XRP support for its retail platforms back in February, but New York and U.K. residents were not included back then and now it happened.
XRP (XRP) is now available to Coinbase users who are New York residents. New Yorkers can now log in to buy, sell, convert, send, receive, or store XRP on https://t.co/bCG11KMQ6s or using our iOS and Android apps.https://t.co/5VE1WklrWo pic.twitter.com/Zp5odgaoHs
— Coinbase (@coinbase) May 13, 2019
Coinbase’s list of supported currencies is growing
The exchange’s list of supported cryptocurrencies continues to grow.
It currently offers support for Bitcoin (BTC), Bitcoin cash (BCH), Ether (ETH), Ethereum classic (ETC), Litecoin (LTC), Circle’s USDC stablecoin, Zcash, Brave’s Basic Attention Token (BAT), among other cryptos.
It’s also important to note that Coinbase recently started to roll a fast and free payments service using XRP and USDC.
This service was created as an educational resource for users to learn about the benefits of using digital assets for cross-border payments.
Ripple has been trying to overcome the flaws of the traditional payments system SWIFT for a really long time, and things seem to be going great so far.
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.