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Although Ripple has been doing well and even more than well these days as we have found out about an important partnership the team behind XRP has made, it seems that another news stole the light. Apparently, as we have all had a chance to find out, Coinbase and Gemini, which are some of the biggest exchange markets in the world of cryptocurrencies, are refusing to add Ripple. Given the fact that XRP is the third best currency according to the global coin report list, we were very much interested in finding out the reason behind this devastating refusal, so we dug a bit and scrapped the surface of this story to reveal the true motive behind the decision made by these exchange markets.

How Come Coinbase is Not Adding Ripple?

Coinbase stands for one of the biggest and thus most valuable exchange markets, just like Binance or Gemini. With a market capitalization of nearly 2 billion dollars, Coinbase enjoys the reputation of one of the largest exchanges. That is how Coinbase has set some standards and according to the Coinbase representative team, they are not planning on adding Ripple to their exchange anytime soon. The team behind the Gemini exchange shared the same statement.

Not being able to get listed on Coinbase for some time now (or Gemini for that matter), the XRP team even went as far as offering millions of dollars in order to buy its way onto the Gemini and Coinbase exchange. During that case, it was stated that offering financial incentives in return for a spot on an exchange market is perfectly legal and legit even outside the unregulated world of cryptocurrencies and blockchain operations, which means that Ripple had every right to offer money to Coinbase and Gemini although many crypto enthusiasts are greatly judging this move.

Both, Coinbase and Gemini, refused to take the financial incentives, also confirming that they were not planning on listing Ripple anytime soon.

Moreover, people are outraged for having Coinbase refusing to add XRP to its exchange mainly because this exchange market has already added all top coins listed on Binance, although Binance and Coinbase have only several currencies in common. Coinbase has listed Bitcoin, LiteCoin, Bitcoin Cash, Ethereum, and Ethereum Classic.

Bitcoin, LiteCoin, and Ethereum were originally added to the exchange almost immediately after Coinbase started with trading business, and later on, Coinbase added Bitcoin’s and Ethereum’s forks: Ethereum Classic and Bitcoin Cash, considering that these two currencies are safe and secure more than enough.

So, Coinbase added Ethereum and Bitcoin, but missed on adding Ripple as the third-best cryptocurrency?

That is how everyone started to wonder: But, why?

The reason behind the refusal is far simpler than you might think as it seems that the answer to this controversy lies in the “rulebook” publically published by Coinbase. The rulebook is freely describing what it takes for a coin to get listed on their exchange.

What Ripple Should Know About Coinbase

In case of Ripple team would still want to get listed on Coinbase exchange, which would in many ways benefit this currency while increasing its visibility and attainability, here is what they should know about Coinbase and what it takes to get listed on this exchange.

Coinbase has announced a brief introduction to their exchange service, addressing all their customers while listing everything they consider to be crucial in order for a coin to get listed on their exchange.

On this occasion they have shared the framework for getting listed on their exchange, stating that they have a clear goal of becoming the most easy-to-use exchange platform while also enjoying the status of the most trusted exchange in the market.

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At the end of their statement they have added that they are not planning on adding any new coins on their exchange at the moment, as well as that in case they were planning the opposite, they would release the news in the public by themselves. The bottom line is not to trust the rumors. The dark side of this point is that it seems that XRP is not getting listed on Coinbase anytime soon.

One of the most important factors for considering a coin for listing is to make sure that the coin is maximally safe and secure, while also being decentralized.

This is where Ripple meets a problem that prevents it from getting listed – XRP is not decentralized. In case you don’t remember, Ripple was often criticized by crypto enthusiasts for not being decentralized, which means that XRP, in a way, has a third party involved in different operations revolving around this currency, which is everything decentralization is against.

That is how it is thought that Ripple was refused precisely for this reason – for not being decentralized. And, given the fact that Coinbase is aiming to become the most trusted exchange, they wouldn’t be able to do so if they were to get Ripple listed despite XRP not matching Coinbase’ listed criteria.

How is Ripple doing at the Current Moment?

After partnering up with MoneyGram with the rumor that Ripple will be also partnering up with Wal-Mart as a consequence, it was expected that XRP will go up in no time reaching a value of 1$ per one unit.

However, XRP is still trading in the red. It seems that other currencies are dropping as well as the market is plummeting, so the recent losses aren’t as odd.

After the latest change in the market, Ripple has lost -4.21%, dropping against the dollar. On the other hand, it is trading up against BTC for 1.76%, which means that Bitcoin is also dropping.

After the initial drop, XRP is available at the price of 0.48$ per one unit, which is still far from its record price of over 3.80$.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Maia Cybelle Carpenter via Flickr


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15 Comments

  • MickeL
    Posted April 11, 2018 10:53 am 0Likes

    XRP services Bank transmission , not Individual Investors,
    BUT there is NO safe , Desktop-WALLET that is known to be approved by Ripple .
    Ripple is frightened to give any approval for Individual-Investors’
    Desktop-Wallet.
    3rd-party Wallets with names like “Toast” do not inspire confidence .
    Ripple NEEDS an approved safe
    Desk-top Wallet. – This is ESSENTIAL.
    ….

    • Kirby Hopper
      Posted April 11, 2018 3:54 pm 0Likes

      Thanks for actually providing some information. Your short paragraph provided way more info than the information provided in the article could have been done in one sentence: “Coinbase does not accept Ripple because it is not decentralized.”

      • Bob
        Posted April 13, 2018 1:59 pm 0Likes

        Which, incidentally, is also not true.
        The xrp ledger network is decentralised. Who cares if someone owns a majority stale if it doesn’t give them any privileges over voting rights etc. (which it doesn’t).

        Also ironic that people preach for decentralization, when they’re talking about listing coins on a centralized exchange. HA.

      • KdG
        Posted May 2, 2018 5:56 am 0Likes

        Xrapid (xrp) Is decentralised, Xcurrent is Centralised.

        Ripple is the future and will claim the number one spot that’s the real reason Coinbase is not listing.

    • zzzcrypto
      Posted April 28, 2018 10:08 pm 0Likes

      Bitcoin claims to be totally decenteralized but a small minority of holders own the majority of btc coins. Sounds like our existing finantial system ……dont you think?

  • StanleyEarl
    Posted April 11, 2018 11:43 am 0Likes

    I knew the reason was because of being xrp not being decentralized…so why did I have to read to the last paragraph to find out if I was right…smh

    • Bob
      Posted April 13, 2018 2:03 pm 0Likes

      I believe the term is ‘click bait’

  • JM
    Posted April 11, 2018 2:02 pm 0Likes

    Ripple not being considered decentralized is FUD. They have many validator nodes that work to decentralize the confirmation of transactions. The only difference between Ripple and the other ‘decentralized’ coins is that some of the other coins allow anyone to participate in the authentication of transactions (anyone can be a validator). This could actually be looked at as a weakness rather than a strength. A bad actor with a lot of computing power could take over a coin like bitcoin if they really wanted (think governments). Furthermore, people who complain about Ripple running xrp must be thinking that having a committee that runs the development decisions for bitcoin and ethereum is different “safer and more democratic” leadership, which it really isn’t.

    • Kirby Hopper
      Posted April 11, 2018 3:56 pm 0Likes

      Good points. Thanks.

    • Bob
      Posted April 13, 2018 2:01 pm 0Likes

      Thanks. At last some words of sense.
      Let’s also not forget that coinbase is a CENTRALIZED exchange.

      xrp has a DECENTRALIZED exchange open for anyone to use built in. See http://www.theworldexchange.net

  • Cameron S.
    Posted April 11, 2018 5:59 pm 0Likes

    The fact that Ripple has a vetting process for its validators adds to its security. Ripple becomes more decentralized over time. As opposed to BTC, which is becoming more centralized as mining pools congregate around sources of cheap electricity. CB and “the Twins” simply turn down XRP because they are long on Bitcoin. The addition of XRP to their exchanges would be the ruin of their own investments. Simple.

  • anony
    Posted April 12, 2018 12:32 am 0Likes

    this is wrong. real reason coinbase wont add ripple is because coinbase wants to make sure ripple isnt a security (like a stock) if they add ripple they may get fined by the SEC. THIS IS HOW YOU KNOW they may add it soon. BOTH companies are working with the SEC. RIpple is wanting clarification from the SEC to give to coinbase. COINBASE is looking to Register with the SEC become a licensed brokerage. if coinbase does, they can add ripple, even if ripple is deemed a security by the SEC. Ripple can be added to coinbase if they can prove they arent a security by the SEC. why would both companies be working with the SEC for? think about it.

    • Pierre
      Posted April 12, 2018 2:47 pm 0Likes

      Ja genau das ist die Wahrheit und nichts anderes Sie haben vollkommen recht.

  • Bertrand Fontaine
    Posted April 17, 2018 2:24 pm 0Likes

    I entirely agree with @anony. This reason given by Coinbase is a decoy. Supporter of the crypto converts into cash, character decentralised by Ripple was one of my motivations for my investment performed on the site crypto-markets. However, thank you for his information.

  • Chuck
    Posted June 3, 2018 3:42 am 0Likes

    I thought for sure someone would comment on ETC. it’s not on coinbase as this article says.

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