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Ripple Surging: Coinbase Pro lists XRP Token

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Coinbase Pro has at last listed the XRP token. Coinbase made the announcement in a recent blog post which led to a quick surge in the price of XRP.

Coinbase Pro has at last listed the XRP token. Coinbase made the announcement in a recent blog post which led to a quick surge in the price of XRP.

XRP trading began yesterday and is currently paired with USD, EURO and BTC.

Coinbase began the deposit process 12 hours before the commencement of trading in order to maintain enough liquidity.

 

According to the blog post by Coinbase:

XRP token is a cryptocurrency which is used by the XRP ledger supporting international transfers and remittances. The XRP ledger is powered by a network of peer-to-peer services. All the accounts made on this network are eligible to send or receive XRP tokens and the XRP token can be used to send underlying fiat currencies between each other. So, the XRP token acts as a bridge in transactions involving different types of currencies such as USD, EURO, YEN etc.

Currently, XRP trading is only allowed for US citizens (except for New York). XRP enthusiasts have been eagerly waiting for Coinbase to list XRP for consumer users. The same will be listed for the consumer platform as well in some weeks from now.

XRP is currently being traded at $0.319586 after a 5% surge it experienced after the listing news.

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6 Comments

  1. Pingback: Ripple Surging: Coinbase Pro lists XRP Token - Satoshiuncle

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#Ripple

Ripple Donating $1 million to Tipping Point

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Ripple is planning to donate $1 million to Tipping Point. According to its website, Tipping Point is an organization that fights poverty in the Bay Area.

Ripple is planning to donate $1 million to Tipping Point. According to its website, Tipping Point is an organization that fights poverty in the San Francisco Bay Area by identifying and investing in promising interventions. According to Ripple’s blog, around 75% of people in the world are poverty driven and are unbanked.

Tipping Point:

Tipping Point is an organization that helps the poor and needy people around the San Francisco Bay Area. The organization has already raised more then $250 million and the amount is being sued on things like employment, education and housing for the poor.

 

Ripple keeps itself involved in charity events. Earlier, Ripple started an initiative called ‘Ripple for Good’ for supporting educational and financial inclusions of people around the globe. Ripple had donated $100 million dollars back then.

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#Ripple

Ripple: XRP OTC Trading on Houbi Exchange

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Houbi announced its OTC trading for Ripple XRP. Houbi OTC is a peer-to-peer crypto trading platform provided by Houbi Global.

Big news for over the counter trading for Ripple XRP came on March 6, 2019, when Huobi announced its OTC trading for Ripple XRP. Huobi OTC is a peer-to-peer crypto trading platform provided by Huobi Global.

 

As per the CEO of Huobi Global, Livio Weng,  Huobi OTC is an effective solution for trading in this crypto trading ecosystem. The addition of Ripple XRP would surely a major step for the extension of this over the counter service.

 

Huobi OTC is one subsidiary of the Huobi Global. It completely aims at over-the-counter trades of cryptocurrencies. It provides a platform where you can post an advertisement for buying/selling cryptocurrencies on it. Thus, you can buy as well as sell these digital assets and complete your transaction with some third party by exchanging cryptocurrencies with fiat currencies.

 

Huobi is one of the leading cryptocurrencies exchange in the crypto market and occupies the 8th position as per market volume and has a total market volume of $715 million today. Apart from the introduction of Ripple XRP in its list of OTC trading, Huobi OTC also supports many other cryptocurrencies for its OTC trading. Bitcoin, Ethereum, EOS, USDT etc are some of the other cryptocurrencies who already are being traded OTC using Huobi OTC. It would be interesting to see what impact does this OTC trading offer to the current bear run of Ripple XRP.

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Analysis: Is XRP a security? What if XRP is deemed a security?

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If XRP is proved as security it will have a major impact on the entire crypto community. Investors should be prepared for a price shock.

XRP coins are pre-extracted and their decentralized nature is a matter of open discussion. Brad Garlinghouse, CEO of Ripple Labs, thinks that XRP is not a security coin and says: “I think it’s very clear that XRP isn’t a security. Garlinghouse defended the decentralized nature of XRP, stating that the existence of XRP does not depend on Ripple Labs. Ripple has never claimed that the price of XRP will rise, so there should be no expectations of the profit that XRP buys. Garlinghouse went on to say that if Ripple does not work, XRP will continue to function ( something that the CEO of Ripple has said over and over again ) Garlinghouse finished saying that the XRP is not a security and that XRP is different from Ripple.

 

Is XRP a security?

Many market players see the Ripple ( XRP ) as a centralized business front towards the cryptocurrency revolution.
Ripple, a private company, only uses XRP in its xrapid product and owns a considerable number of XRP coins.
Yes, users are payment processors, and banks focused on the xrapid Ripple’s product, which actively uses XRP.

The creators of the XRP Ripple Labs have been stifling the charge for a while, tearing it apart like an annoying bug. In 2018, Ripple Labs began to try to co-opt the story around the creation of XRP and the relationship between “Ripple” and “XRP” to dispel the idea that XRP is a security token.

In the past, Ripple, the company behind the XRP coin, has focused on persuading everyone that it is not a security.
While XRP can be purchased in transactions that have nothing to do with Ripple, it is important to note that about 80 percent of the XRP is in the hands of the Ripple company.

 

What if XRP is deemed as security?

If XRP is proved as security it will have a major impact not only on itself but on the entire crypto community. If XRP is legally recognized as a security in the United States, the company will be included in its ‘shareholders’ and the ownership of XRP will represent ownership of the company.

For investors in XRP, be prepared for a price shock if the SEC gives a ruling on the enforcement authorities against Ripple. Nevertheless, there has been much speculation about whether XRP becomes security; its value will be at the bottom. In Future, if XRP is classified as a security, Ripple should provide the owner of each coin a share of the company.

Ripple does not guarantee investors that the value of XRP will rise after the acquisition of the coin. However, XRP is a cryptocurrency designed for value exchange, and it is likely that other authorities will not classify it as a security.

Currently, purchasing XRP does not give you shares in the company. Ripple does not determine the price of XRP.

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