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Coinbase Pro, the professional offering of the US-based crypto-trading platform and coinbase service, now supports Ripple's XRP token. Coinbase announced the development in an official blog on February 25th.
According to the announcement, Coinbase Pro will now accept XRP deposits for at least 12 hours before allowing full trading. Coinbase says it will first establish sufficient cash on the platform, opening the trading pairs in US dollars, euros and Bitcoin (BTC) in stages.
XRP's full trading will be available to customers in the United States, Canada, the European Union, the United Kingdom, Singapore and Australia. Coinbase can expand its services to other countries later.
XRP trading will go through four stages, which include "transfer only", "post-only", "limit only" and "complete transaction". The first two steps will allow users to transfer XRP to Coinbase Pro accounts and place limited orders, the next two will allow customers to match limited orders and trade fully with XRP.
In recent months, Coinbase Pro has been actively developing its supported chip catalog on the platform. In August 2018, he added support for Ethereum Classic (ETC), followed by BAT (Basic Attention Token) and privacy protection altcoin Zcash (ZEC) in November. Support for the above mentioned tokens was then extended to Coinbase's Coinbase.com retail platform and mobile app.
The addition of XRP to Coinbase is long overdue by the crypto community. In January 2018, Brian Armstrong, CEO of Coinbase, refuted the rumors that the exchange was an additional support for XRP in the short term. Following Armstrong's announcement, the market value of XRP increased from over $ 148 billion to $ 126 billion.
According to CoinMarketCap data, the token is trading at $ 0.338, up more than 11% on the day and 5.4% on the week.
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