While it sits as the eighth-largest cryptocurrency by market cap, XRP is no longer listed on many exchanges, including Coinbase.
As per CoinMarketCap, XRP is a cryptocurrency that runs on the digital payment platform RippleNet, which is on top of a distributed ledger database called XRP Ledger. Ripple created XRP to become a faster, cheaper, scalable alternative to digital assets and platforms.
However, Coinbase delisted XRP from its platform because of a US regulatory issue with the cryptocurrency. Here's why.
Why Can't I Buy XRP On Coinbase?
Ripple has been embroiled in a legal suit with the US Securities and Exchange Commission since December 2020.
The US regulators accused Ripple of conducting a US$1.3 billion unregistered security offering. The complaint further comprises details that alleges that Ripple raised funds through the sale of XRP in an unregistered security offering that led SEC to file a suit against the said organization.
Responding to the news of the Ripple-SEC tussle, Coinbase decided to delist XRP from its exchange, suspending its trading.
Can you buy XRP from other cryptocurrency exchanges?
Coinbase updated its page on XRP, underlining different ways through which users can trade the cryptocurrency.
Users will first have to check on CoinMarketCap to see places where XRP is listed as a legitimate crypto asset. At the time of writing, these include the likes of Binance, KuCoin, Kraken, and Huobi.
The exchange advises users to pick a platform depending upon the security, reliability, and liquidity to make their XRP purchase.
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