Cryptocurrency & Blockchain Business

Ripple (XRP) Struggles to get Listed on Major Exchanges

Even major cryptocurrencies and digital assets can struggle to get listed on specific exchanges. For example, Ripple is trying to get on more US-based trading platforms, yet it has failed to make an impact. Even attempts to “bribe” exchanges have not succeeded so far.

EXCHANGES DON’T LIKE RIPPLE AND XRP

It is evident Ripple’s XRP is as far removed from a traditional cryptocurrency as cash is. This digital asset is mainly designed to be of great value to the financial sector in its entirety. That in itself also makes it far less appealing among cryptocurrency enthusiasts, who often consider Ripple’s asset to be a “bankercoin” which should be eradicated.

It seems a lot of major US-based cryptocurrency exchanges also show anti-Ripple tendencies. Even though XRP is still the third-largest cryptocurrency by market cap right now, it is not listed on platforms such as Coinbase and Gemini. Changing that situation has proven to be an ongoing struggle, and there is little to no improvement in sight. In fact, Ripple’s parent company has tried some unique ways of getting listed, without success.

Attempting to pay exchanges for a listing is something we often see in the world of altcoins and ERC20 tokens. Since virtually all of these currencies have nothing unique to bring to the table, they will only get listed by either winning a community vote or paying for a listing directly. Ripple should not necessarily have to go through these struggles to get XRP listed on more platforms. It seems those attempts ultimately failed, which further illustrates a bias in the industry against this company.

The absence of XRP on the institutional investor-oriented exchanges is considered a major problem for Ripple. One would expect all of the top currencies to be traded across all of those top exchanges, but that is not the case as of right now. This is not a problem unique to Ripple and XRP, mind you, but it does highlight a growing bothersome trend in the industry as a whole.

One of the reasons why exchanges are not too keen on adding Ripple’s XRP is because of potential regulatory scrutiny. More specifically, any token listed which could be considered a security would certainly pose major problems. For the time being, it remains unclear if Ripple would fall into that category, even though it is certainly possible that regulators may look at it as such.

How this situation will evolve is very difficult to predict right now. Ripple’s XRP may not make its way to bigger exchanges in the near future, although things can still change for the better. It is evident that demand for XRP has not slowed down as of yet, even though its value has tanked quite a bit in the past few weeks. With this uneasy regulatory situation in play, a very intriguing future liss ahead for Ripple and its native asset.

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JP Buntinx

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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