Any listing of coin on prominent exchanges does give an upward push to prices of that coin. But considering the wider reach of Cobinhood exchange and the popularity of XRP, a lot of analyst on the street believe this listing could be much more than just an upward push to the prices of XRP and but altogether could trigger a bullish trend.
XRP’s wider reach could probably push it to second place ahead of Ethereum
Ripple’s XRP is the third largest cryptocurrency by market capitalization behind bitcoin and Ethereum, though not mined like other digital currencies because it is owned by one company. It has triggered a lot of interests, in the crypto market, and obviously heading to take over Ethereum and even challenge Bitcoin’s top position.
The current listing is on the Cobinhood exchange, a crypto service platform known to charge zero fees on transactions. Following this listing, investors can deposit, trade and withdraw XRP on this exchange platform. This is yet another aggressive move to increase XRP token utility level.
Not just Cobinhood listing, fundamentally too XRP has been proving itself much faster and cheaper than Ethereum and Bitcoin. This was reaffirmed by Ripple CEO, Brad Garlinghouse who said, in a recent interview, that XRP is a thousand times cheaper and faster than bitcoin transactions. To quote him
”We use a digital asset called XRP as part of that flow and we use XRP because it’s a thousand times faster than bitcoin transactions and a thousand times cheaper than a bitcoin transaction. We think that the utility of XRP is such that it’s the most efficient digital asset to solve this problem on cross-border payments. So, Ripple, the company is really building on top of this open-sourced eco-system that I call the XRP eco-system,