Ripple might play only after paying Major US Exchanges
Ripple is known as world’s third-largest Cryptocurrency, XRP. Few Major Banks have also signed with the network and made the equity stakes in its business. When it arrives to obtain expected listings for XRP on two of the major U.S cryptocurrency exchanges, Ripple has not been able to close the deal.
Surrounding with its hype, Ripple also hinted that its future success adds in part on getting XRP listed on significant trading platforms. But, there is a problem when it comes to the topic since U.S officials have warned unlicensed exchanges not to contain any tokens. XRP’s control by a single firm has fed thought that it could dip below the level.
According to the reports, Ripple recently offered $1 Million cash to Gemini for a Q3 2017 listing and offered a loan of $100 million in XRP for Coinbase where investors could trade on the exchange. The report also recommends that Ripple might have proceeded the payment either through fiat currency or XRP that could help the U.S based exchange an opportunity for getting profit from the deal.
Gemini and Coinbase both failed to continue the proposals.
Spokeswoman Emmalee Kremer said:
“Regardless, Ripple has always been transparent about our focus on building and growing a strong XRP ecosystem. We want XRP to be the most liquid digital asset possible to enable faster, cheaper global payments.”
Gemini, co-founded by Cameron and Tyler Winklevoss did not comment anything about the failure. Coinbase representative also rejected answer to few questions.
According to an Autonomous report:
“It’s not necessarily unusual to pay for a cryptocurrency listing. Costs range from $1 million for a reasonably regarded token, to $3 million for an opportunity to get quick liquidity.”
XRP is known as the precious asset among the world of banking and cryptocurrencies which is backed up by a Silicon Valley technology company. XRP is developed to transform the way of sending cash cross-border through the banks and making the transactions faster and less expensive.
Ripple is not a decentralized cryptocurrency. It is a centralized cryptocurrency so, most of the exchanges are offering Ripple with no fear. Ripple is classified as a Security; its transactions are faster and less expensive.
Since December, Ripple is showing its growth and increase in its market capitalization. Recently, Ripple hit the second position in the cryptocurrency world, reaching the position below Bitcoin and pushing Ethereum down towards the third position. It made the investors go crazy about Ripple and start investing in it. As of now, Ripple s trading at $0.40.
Recently, Ripple CEO Brad Garlinghouse said there is a lot of FUD about XRP.
Mr. Garlinghouse told:
“There’s a lot of FUD around all digital assets. That’s true of XRP, and that’s true of bitcoin, for sure. I actually am long bitcoin, personally. I am not a believer that bitcoin dies some terrible death. I don’t think it’s going to solve a payments problem. XRP is 1,000 times faster and 1,000 times cheaper than a bitcoin transaction.”