Why Is Ripple (XRP) Not Available on Coinbase?

Vignesh Karunanidhi
Why Is Ripple (XRP) Not Available on Coinbase?

Ripple (XRP), ranked as the 6th largest crypto according to CoinMarketCap, has been popping up in headlines quite frequently with its ongoing dispute with the Securities and Exchange Commission (SEC).

XRP was created by Jed McCaleb and David Schwartz in 2012 as a native currency for the XRP Ledger.

The feud between Ripple and the SEC began in December 2020, when the SEC stunned everyone in the crypto realm by suing Ripple. The allegation was that Ripple sold unlicensed securities in the form of XRP.

Usually, in the case of an SEC lawsuit, things settle down outside of court due to the heavy expenses incurred for the court battles. However, in the case of Ripple, the situation is different as the company has enough funds to put on the table for a clear fight. More than 2 years down the line, the battle seems to be still on.

So why is XRP not available on Coinbase?

The prolonged feud and regulatory issues with Ripple enticed Coinbase to delist XRP. The lawsuit by the SEC stated that Ripple had offered its customers $1.3 billion worth of unregistered security offerings. This prolonged fight caused several exchanges to delist XRP and its trading. This decision was also taken by Coinbase, which delisted the token.

It is unclear at the moment whether Coinbase will relist XRP. As the fight between the SEC and Ripple continues, with neither of them having an edge so far, it is unclear at the moment as to how long the fight will go on and when there will be a conclusion to the lawsuit.

As long as the lawsuit gets dragged, the chances of Coinbase listing XRP are meager. On the other hand, Ripple is fast forwarding with several collaborations and its dive into NFTs.

But if you are someone who is looking to trade, buy or sell XRP, you can do so on various other exchanges including Binance, Kraken, Huobi, KuCoin.etc. You can see the full fleet of listed exchanges from here.