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Coinbase Exchange Users Can Buy and Sell XRP Starting Today
Coinbase users can buy and sell XRP on its professional exchange platform starting Tuesday.
By Nikhilesh De
Updated Sep 13, 2021, 8:55 a.m. Published Feb 25, 2019, 6:01 p.m.
UPDATE (26, February 17:20 UTC): Coinbase Pro announced Tuesday that it had enabled full trading for its XRP/BTC, XRP/USD and XRP/EUR order books.
Crypto exchange Coinbase is launching support for XRP, the third-largest cryptocurrency by market capitalization.
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The exchange announced Monday it would be listing XRP on its professional trading platform, Coinbase Pro, in "transfer-only" mode, meaning customers can only deposit tokens to begin with. After a minimum of 12 hours, the company plans to activate other trading services, though this timeline is variable.
Initially, Coinbase Pro customers in the U.S. (excluding New York state), the UK, some EU nations, Canada, Singapore and Australia will be able to access XRP, with support for other jurisdictions possibly being added in the future.
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While no firm timeline for launching support on Coinbase's retail platforms (coinbase.com, as well as its Android and iOS apps) was given, the exchange typically launches cryptocurrencies for its non-professional users within a few weeks of launching support on Coinbase Pro.
"The [XRP] ledger is powered by a network of peer-to-peer servers. All accounts on this network can send or receive XRP to/from each other, while XRP can be used to send underlying fiat currencies between two parties," a Coinbase blog post said, adding:
"In this way, XRP can function as a bridge currency in transactions involving different currencies such as US dollars, Japanese yen, Euros, Francs, and others in use on the XRP network."
An individual familiar with Coinbase's internal decision-making process said the company "is prepared to support the asset however it's classified by regulators," referring to the open question of whether XRP qualifies as a security.
Ripple Labs, its subsidiary XRP II and a number of individuals affiliated with the XRP cryptocurrency are currently defendants in a federal class-action lawsuit alleging that XRP is a security issued by the payments startup, a claim that Ripple has denied.
Brian Armstrong onstage at Techcrunch Disrupt London in 2014 interviewed by Alex Wilhelm.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
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- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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