Yesterday, Coinbase Pro announced on Twitter that Ripple’s XRP is now available on their platform. The announcement revealed that currently, it is available only for the New York user-base. The audience showed their excitement towards the announcement through eight hundred twenty-five hearts, three hundred and two re-tweets, and currently, the number of comments is twenty-eight which is still growing.
The announcement for XRP being listed on the platform made rounds three months ago too, but due to the fact that at that time, XRP was not available in New York, the decision could not get manifested.
If we look at how many assets there are on the platform that are tradable, after including XRP’s latest entry, the number rose to six. The other cryptos that made it to Coinbase are Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum Cash (ETC).
— Coinbase Pro (@CoinbasePro) May 13, 2019
Good fortune is showering on XRP:
This new move has proved to be good news for Ripple’s XRP on many fronts. The crypto has seen strong growth of 23 percent in the last 24 hours. Additionally Germany’s stock exchange, ‘Börsse Stuttgart’ has also decided to add XRP ETN. At the press time, the crypto’s market rate was 0.376379 U.S Dollars with a growth rate of 18.81 percent. The market capitalization of the token is also enjoying a good performance with 15,858,087,114 U.S Dollars. The volume in the past 24 hours for the crypto has been 3,912,734,837 U.S Dollars. If we look at the circulating supply of the crypto, it is 42,133,310,721 XRP, whereas the total market supply is 99,991,633,428 XRP.
Börse Stuttgart, Germany’s second largest stock exchange also approved the listing of XRP and Litecoin (LTC) ETNs (exchange-traded notes.) ETN allows users to invest in various types of assets.
Last week, the International payments gateway Xendpay (a subsidiary of London based Rational Foreign Exchange) announced the partnership with Ripple. This partnership will cater the fund transfers to Malaysia, making them faster, easier and more secure. The fact that Xendpay is hugely popular and boasts a large user-base, it mutually will benefit both the companies.
Especially for the New York users:
The fact that the crypto is only available for the residents of New York; it makes it a lot easy for the users to flow the ‘Wall street money’ into Ripple’s XRP. Other than this, the users after a long wait can now purchase, sell, transfer, receive, convert, and store the crypto.
Will Ripple follow suits of Bitcoin?
This year, Bitcoin BTC has surged 100 percent. Ripple started 2019 with 10,000 SATS per XRP. With time, it only went spirally downwards. As for now, it is trading at 4,000 SAT level, which can be a strong support level based on the past track record. The market experts say that if Ripple’s XRP can sustain the support level at 4K SATS, and show the reverse, there can be chances to see some quick growth in the crypto, and may be in-line with Bitcoin’s growth.
Up till now, the main factor that has been stopping Ripple to grow as rapidly as Bitcoin is that the crypto is falling against BTC. This brings out an inverse proportion growth effect when we see Bitcoin’s BTC growth and Ripple’s XRP’s.