‘No solution’ for new assets, says Coinbase amid Ripple rumors
Coinbase has countered stories that it may soon add Ripple’s XRP token to its current trading pairs.
The speculation came after he revealed that Coinbase COO and President Asif Hirji could be shown up close by Ripple CEO Brad Garlinghouse on a special episode of CNBC’s Fast Money program on March 6. What’s more, despite any definitive confirmation of the alleged listing, the price of XRP rose to over $1 on Monday.
After hours of radio blackout on the matter, Coinbase took to Twitter to push back on the rumors, stating that the January announcement of new cryptocurrency listings — which fine-grained how a “committee of internal experts” ultimately makes those decisions — had not changed .
Our statement of January 4, 2018 remains in effect: we have not decided to add additional assets to either GDAX or Coinbase.
As a prepared segment from CNBC, it is unclear whether Garlinghouse and Hirji will speak on the panel or appear independently. Host Melissa Lee posted a screenshot of a promo for the crypto-themed segment earlier today, which also recorded Passport Capital founder John Burbank and Social Capital founder and CEO Shamat Palihapitiya.
A Ripple representative declined to comment on the rumors when contacted.
Ripple saw another outstanding month underperforming its cryptocurrency asset XRP, losing significantly from unbeaten highs in early January.
XRP gained the attention of its customers by attracting up to 1000 percent at the beginning of this year, as well as new customers; his blockchain startup became the talk of the crypto industry in 2018.
However, it is essential that newcomers are aware that the root of all this enthusiasm is due to specific claims made by the startup – specifically, that its technology would be able to transform international payments, improving the outdated methods that are followed for payments and money between significant financial institutions.
According to Ripple, not only are its products cheaper and faster, but it also proudly supports them as more methodical than the services available in the market today, a claim that mainly emphasizes the use of cryptocurrency and blockchain technology.
Coinbase just threw some cold water on Ripple enthusiasts eager to see their coin appear on the popular major exchange.
Rumors that Ripple’s XRP will be next in line after Bitcoin Cash peaked this week among coin hype types, with some reading between the lines on Tuesday’s segment of CNBC’s Fast Money, which will feature Ripple’s CEO Brad Garlinghouse and Coinbase President Asif Hirji in what appears to be a panel discussion on cryptocurrency trends.
Speculation based on the fast money segment drove XRP to $1.07, about 6% higher than weekly averages. Ripple’s XRP remains the only coin in the top five by market cap not available on Coinbase, although given XRP’s centralized nature and very different goals compared to other cryptocurrency projects, its absence is not that surprising. Still, there is a lot of commercial interest, and these things do not prevent Coinbase from adding XRP in the future if it chooses to do so.
Any claim to the contrary is false and not authorized by the company.” After the statement, XRP slid back to its previous averages.
The company also chimed in in a Jan. 5 blog post about its criteria for adding new assets. This post states that “Coinbase will only announce the addition of new assets through a post on our blog or other official channels.” The company probably has no desire to repeat the chaos surrounding the introduction of Bitcoin Cash. Support for Coinbase’s newest asset was officially announced well in advance, but the rollout itself was marred by massive premiums, a trading freeze, and an internal investigation into insider trading.