Why Ripple May Still End Up on Coinbase
Ripple, currently the third-largest digital currency in the world after bitcoin and ethereum, had an extraordinary end to 2017. In the last few days of the year, the price of XRP climbed dramatically. In the process, and with tokens trading for more than $3 each, ripple catapulted past ethereum to become the second-largest cryptocurrency by market cap. (See also: Ripple Briefly Was 2nd Most Valuable Cryptocurrency.)
Although it has since fallen by a significant margin, in the first days of 2018, ripple had generated a great deal of excitement. Perhaps that is why many investors found it odd when Coinbase announced in early January that it would not be adding any new coins to its service, including ripple. As time goes on, though, some investors believe there is still a chance ripple could eventually end up on one of the most popular digital currency exchanges.
When Coinbase announced that it would not be adding any new digital currencies, ripple's price fell by about one-third in immediate response. Still, though, the announcement must be considered carefully.
Was Coinbase indicating that ripple would never be added to its platform, or was it merely suggesting that XRP tokens would not be available for trade in the near future?
Coinbase, like many cryptocurrency exchanges and even like many digital currencies themselves, has been overwhelmed by new interest in digital currencies, particularly in the last few months.
In mid-December, Coinbase indicated a need for expanding its office space by more than six times in order to keep up with increased demand, according to Hacker Noon. Perhaps the lack of infrastructure helped to explain why Coinbase added bitcoin cash to its limited offerings; the addition would help with
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