Although Coinbase has not allowed XRP to be traded on their platform for more than a year now, this seems to point to signs that Coinbase may soon again re-list XRP.
The possibility of a re-listing also signals that Coinbase is confident in XRP’s possibility to win their current multi-year lawsuit.
Coinbase will no doubt be attempting to attract new XRP customers to their platform that are currently holding their assets on a defi wallet such as XRP favorite, Atomic Wallet.
XRP, is pre-mined and functions as an intermediate mechanism of exchange between two currencies or networks and XRP is created by a less complicated method of mining in comparison to Bitcoin.
“XRP is a digital asset built for payments. It is the native digital asset on the XRP Ledger—an open-source, permissionless and decentralized blockchain technology that can settle transactions in 3-5 seconds.
XRP can be sent directly without needing a central intermediary, making it a convenient instrument in bridging two different currencies quickly and efficiently.“Ripple.com
On December 22, 2020, the SEC filed a lawsuit against Ripple Labs and two of its executives. The claim is that they traded $1.3 billion in their cryptocurrency XRP as a security without registering it with the SEC.
Current updates on the lawsuit can be found HERE.
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