Since Friday, Ripple (XRP) has had a staggering amount of growth. In the past week alone, its price has jumped 109 percent higher. Its performance has gone so well that it is now the second most valuable cryptocurrency on the market globally. The former second-place holder was Ethereum (ETH), which now sits in third place.
With about $82.0 billion in market value, Ripple is becoming a power player in the crypto space. So much so, that a lot of analysts are expecting it to be added to the widely-used Coinbase exchange.
At the moment, Coinbase only lets users trade fiat currency alongside a few big-name coins. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) have been the only cryptocurrencies available to trade on Coinbase for a while now.
But Coinbase is planning on adding some other alternative cryptocurrencies, or “altcoins” this year. With the new year already one day in, a lot of us crypto enthusiasts are wondering: will Ripple (XRP) be one of the freshly-added altcoins to Coinbase?
The case for Ripple (XRP) being added to Coinbase
Ripple uses distributed record-keeping technology that is similar to Bitcoin (BTC). But it also has a lot of advantages over bitcoin. The differences basically boils down to speed and price.
Bitcoin’s transaction verification times are notoriously slow. Slow to the tune of 66 minutes! Ripple, on the other hand, only takes about three seconds to verify transfers.
On top of that, it only costs about $0.0004 per transaction. Bitcoin’s transactions cost closer to $30.00.
While bitcoin was revolutionary on its own merit very early on, a lot of cryptocurrencies – like Ripple (XRP) – have been launched that achieve more of the things that people want from a digital currency.
Ripple is also now officially mainstream. There are even rumored partnerships with BBVA (a major international bank) and a number of other leading financial institutions. This blockchain was, after all, built with banks in mind.
It’s the second most valuable cryptocurrency – so there’s really no reason to keep it from joining Coinbase. Coinbase’s Chief Executive Officer told CNBC that more altcoins will be added in 2018.
A lot of us are thinking that Ripple has to be one of them! It is, after all, one of the most talked-about cryptocurrencies on the market right now.
We are staying tuned and paying attention here at usaCommerce – if and when Ripple is added to this popular exchange you will be the first to know.
What will joining Coinbase mean for the price of Ripple (XRP)?
You can probably already assume that when the news breaks, this cryptocurrency will skyrocket in value. When Bitcoin Cash (BCH) was listed on the Coinbase exchange over the summer, for example, its price nearly doubled overnight.
The news announcement will do wonders for this cryptocurrency too – but not just because of the media buzz. Being added to Coinbase actually broadens the available market for Ripple. On Coinbase, the user interface is super simple. On top of that, it allows people to buy cryptocurrency very easily with a simple credit or debit card – even an ACH transfer.
Coinbase means that people who aren’t so technically inclined can easily get Ripple (XRP) with an easy-to-figure-out smartphone app.
Maybe now is the time to buy – before it joins Coinbase. That way, the inevitable price surge can make you a little richer.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.