can't buy xrp on coinbase

Due to regulatory risk and a lawsuit filed by the SEC, Coinbase delisted XRP in 2020, but users can still trade XRP on other exchanges like Binance, Huobi, and Kraken.

Nov 06, 2024 at 11:56 pm

Why Can't I Buy XRP on Coinbase Anymore?

Background:

Coinbase is one of the largest and most popular cryptocurrency exchanges in the world, offering a wide range of cryptocurrencies to its users. However, in 2020, Coinbase delisted XRP, the native cryptocurrency of the Ripple network.

Reasons for Delisting XRP:

Lawsuit by the SEC: In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, the company behind XRP. The SEC alleged that Ripple had raised over $1.3 billion through the sale of XRP in an unregistered securities offering.
Concerns about XRP's Classification: The SEC's lawsuit raised concerns about the classification of XRP as a security. If XRP were classified as a security, it would be subject to additional regulations and might require companies like Coinbase to register with the SEC.
Uncertainty and Regulatory Risk: The ongoing legal battle between the SEC and Ripple created uncertainty and regulatory risk for Coinbase. The exchange decided to delist XRP to protect its users and shareholders from these risks.

Alternatives to Buying XRP:

While Coinbase no longer allows users to buy XRP, there are other exchanges and platforms where XRP trading is still possible. Some popular options include:

Binance
FTX (not available due to bankruptcy)
Huobi
Crypto.com
Kraken

Note: The availability of XRP trading on these exchanges may vary depending on the user's location and other factors. It is always recommended to research and compare exchanges before selecting one for trading.

Impact on XRP Price:

The delisting of XRP from Coinbase had a significant impact on its price. XRP's value dropped by over 60% in the days following the announcement. However, the price has since recovered somewhat and remains one of the top cryptocurrencies by market capitalization.

Conclusion:

Coinbase delisted XRP in 2020 due to concerns related to the SEC lawsuit and regulatory risk. While Coinbase no longer offers XRP trading, other exchanges still provide access to the cryptocurrency. The impact of the delisting on XRP's price was significant but has since diminished as the market has evolved.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

HT

$0.7658

25358718.26%

Trade Now
GRIFFAIN

$0.2191

71.51%

Trade Now
NEURAL

$6.8152

63.51%

Trade Now
XPR

$0.0044

59.75%

Trade Now
ALPHA

$0.1447

54.38%

Trade Now
VVV

$4.1626

47.88%

Trade Now

Latest Crypto News

The Best Crypto to Invest in for Long Term Growth
2025-02-04 14:40:59
PEPE Price Received Buying Pressure in Demand Zone: What's Next?
2025-02-04 14:40:59
Uniswap (UNI) Whale Activity Signals Renewed Interest as Market Dips Offer Buying Opportunities
2025-02-04 14:40:59
Bitcoin Reclaims $100K Amid Policy Uncertainty
2025-02-04 14:40:59
AI Tokens, Real-World Assets (RWA), and Meme Coins See Major Market Corrections as Crypto Narratives Shift
2025-02-04 14:31:00
Yanmega ex emerges as one of the strongest Darkrai ex counters
2025-02-04 14:31:00

Related knowledge

How to view the market value ranking on Binance

Feb 03,2025 at 09:42am

Key PointsBinance is one of the leading cryptocurrency exchanges in the world.Binance provides a variety of features, including the ability to view the market value ranking of cryptocurrencies.The market value ranking is a list of cryptocurrencies, sorted by their total market capitalization.The market capitalization of a cryptocurrency is calculated by...

How to trade after recharging on Binance

Feb 03,2025 at 09:36pm

Key PointsUnderstand the Binance platform and its features.Fund your Binance account through various methods.Choose the right trading pair and order type.Monitor your trades and adjust your strategy as needed.Explore advanced trading options for increased efficiency.Detailed Guide on How to Trade After Recharging on Binance1. Understanding the Binance P...

How to recharge Binance with QR code

Feb 03,2025 at 10:36pm

Key Points:Utilize Binance's QR code for a seamless recharge experienceUnderstand the process of generating a QR code for Binance depositsIdentify various methods for recharging Binance through QR codesExplore the advantages and security aspects of using QR codes for Binance rechargesComprehensive Guide to Recharging Binance with QR CodeStep 1: Generati...

How to buy coins and withdraw from Binance app

Feb 03,2025 at 08:25pm

Key Points:Choose a reputable cryptocurrency exchange like Binance.Open an account and verify your identity.Fund your account using a bank transfer, credit/debit card, or other supported methods.Find the coin you want to buy and select the "Buy" option.Choose your order type and enter the desired amount.Review and confirm your order.Store your coins in ...

How to open Binance 100x contract

Feb 02,2025 at 08:24pm

How to Open Binance 100x ContractKey Points:What is a Binance 100x contract?Requirements for opening a Binance 100x contractStep-by-step guide to opening a Binance 100x contractManaging your Binance 100x contractFrequently asked questions (FAQs)IntroductionA Binance 100x contract is a futures contract offered by Binance, a leading cryptocurrency exchang...

How to solve the abnormality of Binance network

Feb 04,2025 at 09:06am

Key Points:Identifying the root cause of the network abnormalityImplementing technical solutions to address the problemCommunicating transparently with users and addressing concernsMonitoring the situation and adjusting measures accordinglyHow to Solve the Abnormality of Binance NetworkBinance, one of the world's leading cryptocurrency exchanges, has en...