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Coinbase opens up XRP Trading for NY residents


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48 minutes ago, Esprxp said:

https://www.coindesk.com/coinbase-opens-up-xrp-trading-for-new-york-residents

“After the announcement, the price of XRP jumped over 20 percent to reach a high of $0.39 following the announcement, according to data from CoinMarketCap. However, the surge also coincides with bullish moves from bitcoin in the last 24 hours.”

Congratulations New York, welcome to the rest of the world...

The pumpers just look for an excuse to push it up, this random news item just happened at the same time they wanted to pump, otherwise they would have picked whatever was happening then.

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1 hour ago, RipplePiercing said:

If XRP is being sold by Coinbase in New York, surely that would elude to the fact that XRP is/isn't a security?

The US SEC hasn't been able to identify where XRP fits. It will eventually fall under a new asset class but this could happen in the next 3 months or in the next 2 years. People aren't waiting for the SEC to make up their mind so rather than sit idle the industry moves forward. The downfall with this is Financial institutions will not adopt XRP until there is regulation and the regulation will come once the SEC gets their act together. The SEC moves at a snails pace compared to crypto and time is money.

i too am of the impression this small pump has nothing to do with Ripple or XRP but BTC's influence over the market. Easy come easy go don't get too excited. XRP is still a sleeping dragon, it will settle back to 31 cents shortly. Presently, we live in a very manipulated crypto market.

Edited by Scout
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5 hours ago, Scout said:

The US SEC hasn't been able to identify where XRP fits. It will eventually fall under a new asset class but this could happen in the next 3 months or in the next 2 years. People aren't waiting for the SEC to make up their mind so rather than sit idle the industry moves forward. The downfall with this is Financial institutions will not adopt XRP until there is regulation and the regulation will come once the SEC gets their act together. The SEC moves at a snails pace compared to crypto and time is money.

i too am of the impression this small pump has nothing to do with Ripple or XRP but BTC's influence over the market. Easy come easy go don't get too excited. XRP is still a sleeping dragon, it will settle back to 31 cents shortly. Presently, we live in a very manipulated crypto market.

The US SEC has been side-lined by other countries because of their 'snails pace'. That is the reason why I am not looking at them for 'market regulation' guidance any more. Take Japan, Luxembourg, Thailand and others and you can see that XRP is 'allround' considered to be a (new class) digital payment token/system. So that discussion is past tense.

The market reaction we are seeing now is anticipation building up (all over twitter) about XCurrent 4.0, Bakkt, Fidelity with institutional investors getting ready to place their stakes. This is not a pump. This is the real thing we have all been waiting for, buckle up my friend. :JC_doubleup:

Edit: 'hoping that this rise will squeeze out daytraders who are trying to manipulate the price'.

 

Edited by cryptoxrp
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