After more than a year of intensive work, Ripple (XRP), the third largest cryptocurrency in the world in terms of market capitalization, hit Coinbase Pro on February 26 after a recent announcement. Shortly after Ripple (XRP) was launched on Coinbase, the token grew by 10%, which is highly expected, since the short-term rally usually precedes the first token arrival on the exchange.
Against the background of the holiday and excitement on the part of both investors, traders, and the Ripple (XRP) team, the cryptocurrency community did not spend much time analyzing the obvious loophole that could later lead to exclusion from the list of XRP tokens. Back in 2018, Coinbase introduced a digital asset platform containing procedures that any coin must follow in order to qualify for listing.
According to CryptoDaily, the Ripple team controls about 60% of the total stock of the XRP token, and, as stated above, the team is expected to control only a small percentage of these rates. The reduction becomes obvious and increasingly alarming for cryptocurrency traders, especially when the factors that prevent the inclusion of XRP in Coinbase, delay the process and greatly affect the speed of adaptability.
It was assumed that Coinbase intended to completely abandon its decision, having learned that the Security and Exchange Commission (SEC) could call Ripple safe. But, given that the token remained on the Coinbase exchange for 8 days, and the Ripple team can make any statement regarding any violation of a rule regarding shareholdings, it is possible that the Ripple team actually owns only a small stake.
Meanwhile, it is this inability of Coinbase to clarify this alleged violation that further heightens the rumors that the Ripple team may have paid off. Although they clarified this statement, the public that the rumors may still be true.
