In response to reports that Ripple's CEO is urging Coinbase to list Ripple's XRP coin on its exchange platform, Youtuber The Modern Investor (TMI) offers an analysis which suggests market manipulation on the part of Coinbase, is holding back the market as a whole.
Coinbase has been avoiding listing any coins on its exchange platform that the U.S. Securities and Exchange Commission (SEC) categorizes as a security in order to protect investors from unregulated coins. TMI suggests that Ripple has taken great strides to ensure that XRP is 'the most regulated coin on the market', and that the SEC does not consider and will not consider XRP a security at all. TMI suggests also that XRP's public request to be added to Coinbase is a signal that Ripple has gotten regulatory clarity from the SEC that XRP is not a security. TMI takes as further evidence the fact that the SEC has made mention of a number of coins in its press about regulatory consideration, but made no mention of XRP in particular.
TMI believes that Coinbase in fact does not truly worry that XRP will be considered a security at all by the SEC.
TMI makes note that earlier this year, XRP passed Etherium in value and was poised to surpass Bitcoin as well to become the largest coin in the market. That very week, Coinbase stated it would not add any more coins including XRP. Following this, XRP's upward mobility reversed. TMI claims that if Coinbase had decided to add XRP it would have ended up the largest coin in the market.
@coinbase @AsiffHirji @brian_armstrong manipulation of #xrpthestandard #XRP #Ripple price is a disgrace! You know full well it isn't a security & if you would add it would be number 1 coin. This is the issue here place your dislike of @bgarlinghouse #growup— RIPPLEATOR (@rippleator) June 23, 2018
TMI believes that this in fact was purposeful on the part of Coinbase, who refused to endorse a competitor to BTC and Ethereum, which they had such a large stake in. The people behind Coinbase, the Winkelvoss twins, are early adopters of both BTC and Etherium, and as such, have a significant holding in both these coins and a financial stake in those coins success. Furthermore he notes that there are rumors that the Winkelvoss twins and Ripple's CEO Brad Garlinghouse have had a personal falling out.
TMI's prediction is that Coinbase will in fact add XRP to its platform, but will purposefully 'squash' it between other coins to limit the surge that XRP will get by being added to Coinbase's listings.
Watch the full video here and make your own conclusions.
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