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Despite wielding the world’s third-largest cryptocurrency by market cap, XRP, Ripple has not bot able to get its token listed on major US cryptocurrency exchanges.
Ripple previously attempted to list XRP on both Coinbase and Gemini, and reportedly suggested Gemini $1 million and Coinbase a loan of overheen $100 million te XRP te exchange for a listing &mdash, a relatively regular proces for companies that want to list their cryptocurrencies with exchanges. Coinbase and Gemini are likely refusing to list XRP because the US has warned unlicensed exchanges not to list tokens that could be seen spil securities, which XRP could be classified spil, due to it being managed by a single company.
XRP would benefit considerably from representation on big US cryptocurrency exchanges. Even tho’ XRP is one of the thickest cryptocurrencies on the market, there is still a considerable price difference inbetween its value and those of Bitcoin and Ether.
Listing on major US exchanges like Coinbase and Gemini would go a long way te boosting investor access to the token, and potentially its price. Moreover, XRP is likely loosing a loterijlot of traction by not being represented on thesis platforms &mdash, after it became apparent that XRP would not be listed on Coinbase ter January, its price dropped 20%, from $Trio.30 down to $Two.65. This illustrates that investors are impatiently awaiting a US listing for XRP, and the shrinking of that possibility is unwelcome news for Ripple.
However, the US isn’t the only interesting market for XRP. Albeit listing on Coinbase or Gemini would very likely have a positive effect XRP’s price, it may not be necessary for the cryptocurrency’s survival. Coinbase’s and Gemini’s trading volumes are largely limited to USD and EUR, meaning that the Asian market is mainly unaffected by whether XRP is listed on those US exchanges or not.
Therefore, if Ripple is incapable to get XRP listed on more exchanges ter the US te the future, it would potentially be wise to concentrate on other markets, like ter Asia, to increase trading volumes for its token.