There are two big arguments within Ripple’s XRP and the Coinbase saga.
Just as a reminder, at the moment, Coinbase will not list Ripple XRP due to it’s association as a security. Though this has not yet been proven, some believe Ripple XRP is a security, others of course do not. As an unbiased news team, we can’t really side with either argument.
This could all be about to change however, with Coinbase recently granted a new license and of course, a court case that could see Ripple XRP cleared from the security tarnish sooner, rather than later.
So, within the Ripple and Coinbase debate specifically, we should consider that Coinbase is one of the biggest exchanges in the world and thus, when a new currency gets listed on it, the respective currency see’s a surge in price. Many people do argue that even if Ripple XRP is listed on Coinbase, it will not skyrocket as a result, we however believe the contrary, a Ripple XRP listing on Coinbase could only benefit the price of Ripple XRP.
Put it this way, as it stands, Coinbase only list four currencies, a fifth is about to be added in the form of Ethereum Classic, it is this piece of news that proves a Ripple XRP listing could only be beneficial for Ripple.
The Ethereum Classic listing announcement (bearing in mind it is still an announcement and the listing is not yet live) caused the value and market cap of Ethereum Classic to spike, moving up from a value of $12.84, to $16.06 in a matter of minutes, this is a rise of 25%. Like I said, this is without the listing even going live, this is just the reaction from a preliminary announcement.
We should consider that, at the time of writing, Ethereum Classic sits in 18th place for market capitalisation, compared to Ripple, which as we know sits in 3rd place. This is important to consider, as, having an intrinsically greater market capitalisation means that Ripple has a greater capacity to rise, therefore we could argue that Ripple XRP would see gains greater than 25% from the outset, if a Coinbase listing was announced.
Moreover, once the listing went live, Ripple XRP would see a huge spike in value.
Now of course, we can’t say when or even if Coinbase will finally list Ripple. We do know however that this is something the crypto-community are calling out for. Overall, it would be very beneficial for Ripple XRP, not just in terms of value but in terms of trading volume too.
To those who still think a Coinbase listing would have little effect on Ripple XRP, have a look at how big of a response Ethereum Classic has had to this news, proportionally relate that to Ripple XRP, given it’s far bigger capacity, and you might be able to see just how beneficial this would be for XRP.