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.
However, the Cryptocurrency bot Whale Alert has recently detected large transfers of XRP between crypto exchanges including Coinbase, giving rise to intense speculation that the exchange might be gearing up to list XRP back on Coinbase.
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.
When Will We XRP Be Back On Coinbase
The Ripple-SEC brawl is still unresolved which simply means XRP will not be listed on any crypto exchange let alone on Coinbase.
On the other hand, the exchange is recently involved in Coinbase bankruptcy rumors and is undergoing an SEC investigation for the same.
However, Ripple is reportedly making progress by establishing multiple strategic partnerships. Hopefully, once the matters are settled, XRP will be listed back on all major crypto exchanges. We'll keep this page updated with the latest information.
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