“No Decision” on New Assets, Coinbase Says Among Ripple Rumors
Rumors that Coinbase will soon add Ripple’s XRP token to its existing trading pairs are being refuted by the company.
The guess originated after it revealed that Coinbase chief operating officer and president Asiff Hirji might show up close by Ripple chief executive Brad Garlinghouse on a special episode of CNBC’s “Fast Money” program on 6th In addition, the price of XRP increased to over $1 on Monday despite the lack of any concrete confirmation of the rumored listing.
Following hours of radio blackout on the issue, Coinbase used Twitter to push back against the rumors, expressing that the January proclamation about listing new cryptocurrencies – which subtle elements how a “committee of internal experts” eventually make those decisions – hadn’t changed.
We have decided not to add additional assets to either GDAX or Coinbase, as we stated on January 4th, 2018, and we stand by that statement.
It’s unclear from the prepared CNBC segment if Garlinghouse and Hirji will participate in the panel discussion or just show up on their own. Host Melissa Lee tweeted a screenshot of the promo for the cryptocurrency-themed segment from earlier today, which also features the founders of Passport Capital, John Burbank, and Social Capital, Chamath Palihapitiya, as well as other notable figures.
When contacted, a representative for Ripple declines to address the rumors.
A further exceptional month for Ripple was not enough to prevent its cryptocurrency asset, XRP, from falling significantly from record highs in early January.
By rising by 1,000% at the beginning of this year, XRP attracted the attention of both current and potential customers. Its blockchain startup has since become the topic of conversation in the cryptocurrency industry.
It is crucial that the newcomers understand that the startup’s specific claims—namely, that its technology would be able to transform international payments, improving the antiquated procedures which are used for payments and money transfers between significant financial institutions—are what are at the heart of all this enthusiasm.
A claim made by Ripple that focuses primarily on its use of cryptocurrency and blockchain technology asserts that its products are not only more affordable and quicker than the services currently offered in the market, but also proudly endorses them as being more methodical.
Ripple supporters hoping to see their coin listed on a well-known mainstream exchange have recently received some cold water from Coinbase.
Ripple CEO Brad Garlinghouse and Coinbase President Asiff Hirji are scheduled to appear in what appears to be a panel discussion on cryptocurrency trends on Tuesday’s episode of CNBC’s Fast Money, according to some reading between the lines. This has led to speculation that Ripple’s XRP will follow Bitcoin Cash as the next major cryptocurrency.
With regard to weekly averages, XRP increased by about 6% to $1.07 due to speculation based on the Fast Money segment. The only coin in the top five by market cap that isn’t listed on Coinbase is Ripple’s XRP, but this is to be expected given XRP’s centralized nature and very different goals from those of other cryptocurrency projects. Nevertheless, there is a healthy amount of trading activity, and these factors do not preclude Coinbase from adding XRP in the future should it so choose.
Any assertion to the contrary is untrue and unapproved by the company.” After the announcement, XRP slightly retreated back toward its prior averages.
A blog post from January 5 about the company’s standards for adding new assets was also linked by the company. That post states that “Only our blog post or other authorized channels will Coinbase use to announce the addition of new assets.” The business probably doesn’t want to experience the chaos surrounding the launch of Bitcoin Cash again. Although support for Coinbase’s newest asset was officially announced well in advance, the rollout itself was hampered by exorbitant premiums, a trading halt, and an internal insider trading investigation.