Some are speculating that Coinbase will eventually start selling Ripple as well, and when that happens the price is expected to go to the moon!
Ripple has already made huge moves in the past couple of weeks, pumped largely by news of greater acceptance by banks and credit card companies. At the time of writing, it has surpassed Ethereum by market capitalization and is the second largest cryptocurrency with $87 billion. XRP surged to an all-time high of $2.80 on December 30th and is still trading high at $2.25 today.
According to reports, Ripple could soon be joining Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on Coinbase. Acceptance and ease of access is everything in the crypto world. The easier it is to buy something, the more demand will increase, which, in turn, increases value. Coinbase makes it simple for non-technically minded people to invest in cryptocurrencies using fiat. A number of analysts have already speculated that one of the world’s largest exchanges, servicing 32 countries, will be adding Ripple shortly.
Ripple is the hot coin of the moment, and the likelihood of a Coinbase acceptance is high. Its blockchain is superior to Bitcoin’s in terms of speed and price, making it a better alternative to trade with. Transaction verification times for BTC are painfully slow, often taking several hours. In addition to that, the fees can be as high as $30 for Bitcoin. Compare that to just $0.0004 for XRP, and you have a good option for low cost, high speed crypto transfers.Coinbase squashed these rumors shortly after the above article.
Via Coinbase's blog:
We wanted to give our customers details about our process for adding new assets to our trading platform. Our mission is to be the most trusted and easy-to-use digital currency exchange. We believe sharing this process with our customers is an essential part of building that trust.
A few months ago we released our Digital Asset Framework which highlights our criteria for supporting new assets. You can read our framework here. A committee of internal experts is responsible for determining whether and when new assets will be added to the platform in accordance with our framework. These individuals — and all employees at Coinbase — are subject to confidentiality and trading restrictions. Coinbase will announce the addition of new assets only via our blog post or other official channels.
As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.Although the post didn't specify Ripple precisely, Cointelegraph believed it was directed at the Ripple rumors. Still though, this is most likely a reaction to the rumors of insider trading when Coinbase launched support for Bitcoin Cash. That being said, I'm pretty sure Coinbase will support Ripple eventually, and when they do... BANG ZOOM!
Bitcoin was trading for what Ripple is trading for now just a few years ago. At the time of this writing, that is a little over the $1.30 mark. Bitcoin is now trading for just over the $11,000 mark!
If people who have purchased Ripple this early in the game hold onto it, and Ripple ever trades for $11,000, there will be a lot of wealthy investors! Some are saying that Ripple is basically the new Bitcoin, except the banks like it. This could be interpreted to mean that there is an even greater chance of acceptance and adoption in the financial industry. At least, that is the way it looks to me. Whether this is good or bad is certainly debatable as well.
I currently own 113.38 XRP tokens. I'm really hoping that in 5 or six year it does go up to $11,000 because if that happens it will be worth $1,247,180! Certainly not a bad return if you ask me!
Now, will Ripple ever get so popular that the price will rise the same way Bitcoin did? The Economy Forcast Agency doesn't think so. At the time of this writing, they only expect the price of Ripple to get up to a high of around $31 by 2021.
If the chart above is to be believed at all, then those of us holding (Or hodling as the kids say) for the big payoff, then we may have to wait quite a while before cashing out. It did take Bitcoin roughly eight years to reach it's current height though, so the patience may very well be worth it!
What do you think about this? What do you think about Ripple in general? Let us know in the comments.