Following Coinbase\u2019s decision to list XRP \u2013 the cryptocurrency commonly associated with Ripple \u2013 many analysts and investors alike questioned whether or not there was an element of insider trading associated with the listing. The concerns come after the exchange faced similar criticism back in late-2017, when investors accused the exchange\u2019s employees of profiting off of the listing of Bitcoin Cash onto the platform.<\/p>\n
Now, one analyst claims that XRP\u2019s daily chart<\/a> may point to the fact that it is a highly manipulated market, which he believes may end badly for investors in the cryptocurrency.<\/p>\n It has long been known that Ripple<\/a> has tried on multiple occasions to get XRP listed on Coinbase, as the additional trading volume incurred from a listing on the exchange would undoubtedly make XRP significantly more liquid.<\/p>\n A listing on Coinbase would also decrease the chances of manipulation, as it is more difficult to manipulate cryptocurrencies with higher average trading volume than it is to manipulate those with low average trading volumes.<\/p>\n A Bloomberg<\/a> report from April of last year claimed that Ripple was offering large financial incentives to exchanges that would list XRP, with Coinbase being one such exchange that was offered incentives in exchange for listing XRP.<\/p>\n According to the report, Ripple told Coinbase that it would loan the exchange more than $100 million worth of XRP in order to allow users to instantly trade the asset.<\/p>\n Despite this offer, Coinbase declined to pursue it, and has now apparently listed the cryptocurrency on their own accord.<\/p>\n In a recent tweet from Miguel Vias<\/a>, the head XRP markets at Ripple, he spoke on behalf of the company, claiming that Coinbase\u2019s decision to list XRP was their decision alone, and that the exchange was not offered any incentives to list the crypto.<\/p>\n \u201cWe\u2019re happy to go on the record. Coinbase\u2019s listing of XRP (also, not \u2018our token\u2019) was Coinbase\u2019s independent decision – we did not give them anything to make it happen,\u201d he noted.<\/p><\/blockquote>\n We\u2019re happy to go on the record. Coinbase\u2019s listing of XRP (also, not \u201cour token\u201d) was Coinbase\u2019s independent decision – we did not give them anything to make it happen. https:\/\/t.co\/xTVvACqsQa<\/a><\/p>\n — Miguel Vias (@miguelvias) February 27, 2019<\/a><\/p><\/blockquote>\nRipple Separates Themselves from Coinbase Listing<\/strong><\/h2>\n
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