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For a cryptocurrency project, bringing your coin to Coinbase is one of their biggest goals. However, the popular exchange has become sadly known over the years for accepting only a handful of high-level coins, while others have been considered unsafe for listing for various reasons. In the first half of 2018, however, Coinbase has decided to distance itself from this old way of looking at things, and has even announced that it will examine numerous altfields in order to identify and list the best among them.
Since then, the exchange has kept its word, and while it has not added dozens of new coins, they have still opened some projects, such as 0x and even Zcash.
However, throughout this time, there has been mention of XRP, a cryptocurrency formerly known as Ripple, which is currently the second largest currency by market capitalization. Despite the high demand, constant demands and the same way – Coinbase did not even consider adding XRP.
That is, until several days ago, when numerous reports emerged on Coinbase that they considered another group of altcoins. While the XRP community was thrilled to see XRP listed as a candidate for a potential listing, many believe it will not happen again.
Why does not Coinbase want to add XRP?
As already mentioned, the XRP community has requested the addition of XRP for months. Coinbase, however, remained silent. Their reasons for not adding XRPs have never been a secret, as the exchange always offered only high quality coins. Coins that are not surrounded by controversy and various accusations.
The XRP, on the other hand, is gaining a lot of negative attention due to the security allegations. Furthermore, it was rumored that XRP was issued through an illegal supply of securities, which did not help its image. Naturally, XRP's parent company, Ripple, has always denied these allegations.
They have also been accused of manipulating the currency and keeping it centralized. As a result, the company has made an effort to prove that XRP is decentralized, as it should be a cryptocurrency. All this negative attention, however, has made XRP an unwanted guest at Coinbase.
Coinbase will add XRP?
For now, it's hard to say. While the XRP problem seems to have calmed down in recent months, many of these problems remain unresolved. Unlike Coinbase it would be different to add XRP even if these allegations were still in the air, despite the fact that it was listed as a potential candidate.
Some speculate that Coinbase only listed XRP as a potential currency in order to calm the XRP community. However, as the exchange always emphasizes, just because a currency is listed as a candidate for adoption, this does not mean that it will actually be adopted. Coinbase has announced dozens of altcoins as candidates before, but has actually only added a couple of altcoins.
At the moment, XRP is just one of the 31 coins that Coinbase is considering, which means that its chances are low, at best. Many believe that this is stalled until the uncertainties related to XRP are resolved, while there is nothing that is ever really safe in the crypto world, and there is a possibility that Coinbase can actually add XRP, many believe it is unlikely at this point.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not hold stakes in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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