Are Coinbase Getting Ready To Peel Out XRP?

Recently, Ripple’s native token XRP found its way on to the Coinbase Pro platform. Shortly after it was announced on 26th February that the token would be getting a listing on the platform, the token makes some decent gains of around ten percent, when you consider the impact of the bear's ruthless grip on the market.

The listing was very exciting for a lot of XRP enthusiasts as well as well as the XRP team but it didn’t take long for the rest of the community to start to find loopholes that could consequently lead to the delisting of the XRP token.

At the time of the announcement, Coinbase said: “XRP will be available for customers in most jurisdictions, but will not initially be available for residents of the United Kingdom or the state of New York.”

Last year, the US crypto exchange revealed a Digital Asset Framework containing the regulations that any coin and token would have to follow in order to get a listing on the platform. As Coinbase say, “the ownership stake retained by the team is a minority stake. There should be a lock-up period and reasonable vesting schedule to ensure the team is economically incentivized to improve the network into the future.”

As the story goes, Ripple controls a good portion of the overall XRP supply (60 percent) and as is stated above, the team is expected to control only a very small percentage of these stakes. The contraction becomes clear and a lot more worrying to cryptocurrency traders especially when the factors hindering XRP’s listing on Coinbase delayed the process and in a big way, influence the rate of adaptability.

In fact, rumours surfaced that Coinbase was fully intending to unlist XRP from the start after learning that the Securities and Exchange Commission might be classing RIpple as security. The token has been on Coinbase Pro for over a week now and the Ripple team haven’t made a statement in response to the allegations so maybe, Coinbase will let it slide just this once?

In terms of price, Ripple’s XRP token is currently the third biggest in the crypto space with a price of $0.30 following a 1.14 percent increase over the past 24 hours.