There is no better push to the fate of a cryptographic currency than to get an important exchange list. For some time, talks have grown on the fact that Ripple's XRP will be listed on Coinbase. This still had to see the light of day. However, the indications indicate the fact that the currency may not need a Coinbase list.
In recent months, Coinbase had been in the intense spotlight for its immense pumping and venting technique. Traders thought that the last one was seen in the Ethereum Classic landfill. ZCash (ZEC), the privacy cryptocurrency had received its share of the pump and had since been left in the cold.
The ZCash (ZEC) list was an odd step
The crypto community had been taken aback when Coinbase announced the addition of ZCash (ZEC) to its Pro trading platform. The blog post hinted that the currency (ZEC) was not available on the main platform. The rebranded version of GDAX, Coinbase Pro, became the benchmark for a ZEC list.
The financial fortunes of the currency had improved and investors thought it was the next big thing for ZCash (ZEC). In contrast, the Coinbase Pro list was seen by another perceptive.
It will be remembered that ZCash (ZEC) is proud to be a currency centered on privacy. It was strange to have him on Coinbase, especially with the little regard that the US regulators had for private currencies. Despite this, the currency had been traded on the exchange before the club fell on it.
ZCash (ZEC) has been used and downloaded
Pump and landfill schemes are the last illegality in the cryptographic sphere and Coinbase had been challenged in most of these shady deals. Not to mention the inordinate practice of listing ZEC, the pump and discharge ZCash (ZEC) witness after it was listed on Coinbase pro is an indication that the exchange is moving away from its original formation.
Read also: Why the Ripple XRP as a base currency on Binance is more rewarding than the Coinbase insertion
Coinbase Pro listed ZEC and the price of the currency was successful only to fall later. The nefarious game of money (pump and dump) had made a few rich at the expense of a greater loss by many investors.
Investors of ZCash (ZEC) will lick their wounds after the Coinbase Pro incident. This does not in any way prevent the continuation of the stratagem. In the unregulated cryptographic sphere, pump and discharge schemes are on the agenda.
Can Coinbase be the main break for Ripple's XRP?
In light of the continued rise in the price of publicly traded currencies, people had already started clamoring for the listing of Ripple (XRP) on Coinbase. The statement was because the exchange is able to increase the liquidity of XRP.
The price of money will also increase at the same rate. The general belief is that Coinbase could be the jinx-breaker of XRP.
Ripple (XRP) is taking a walk
If Ripple's XRP was considered for a slot in Coinbase, that proposal is no longer in sight. The list of ZCash (ZEC) hoped to drive the adoption of its technology and the same is expected for Ripple's XRP.
However, the currency is eliminating any idea of getting a Coinbase list. Firstly, ZCash (ZEC) has no better prospects than Ripple (XRP), but has received a slot on Coinbase. This could indicate that the exchange is partial.
Furthermore, the reflection of the ZEC list further strengthened the resolution of Ripple (XRP) to avoid Coinbase. The proof that the value of XRP will increase once it has been transferred to Coinbase is a big fuss to attract the currency. Probably what could be obtained on the ZCash list (ZEC) will be reproduced for XRP.
Read also this: three main factors that influence the price of Ripple's XRP
Investors who push for listing should have an afterthought because doom will be written for XRP when this happens. In a big upward rush, Ripple's XRP had passed Ethereum (ETH) for the second time in a year.
To support this pace, it was not possible to experiment with the coin a system of pumps and dumps that had become an integral part of Coinbase. Investors who do not want to burn their wallet may be pleaded against a Ripple Coinbase list for XRP.
XRP is better without Coinbase
After the incident with Bitcoin Cash, Coinbase had taken time to list other cryptocurrencies. The accident had left the tongue wagging that the exchange had become a landfill. Coinbase should have refuted the accusation by offering better prospects to ZCash (ZEC), but the same pump and dump scenario took place.
Furthermore, the Basic Attention Token (BAT) dump of 20% shortly after being quoted on Coinbase is also an indication that Coinbase may not be the best place for Ripple (XRP), and the fact that the currency can certainly reach glories without the list.
The ongoing pump and discharge schemes on Coinbase had confirmed the claim that Ripple's XRP does not need Coinbase.