Ripple Goes Above $0.50 Mark After Coinbase’s Announcement

In the latest altcoin news, the price of the altcoin Ripple (XRP) recently broke out of its bearish trend – hours after the new announcement by the cryptocurrency exchange giant.

While Ripple has been trading around the $0.40 margin for most of the day, it managed to climb to the $0.50 margin and surge in a bullish sentiment. The price of Ripple is now trading at $0.52 up from the intraday low of $0.436.

Analysts say that the bump was massively affected by Coinbase’s announcement that it was overhauling the cryptocurrency listing process and replacing what has been an ad-hoc approach to one that more closely mirrors the processes through which other exchanges approve the coins for listing.

The announcement from Coinbase also means that the exchange will list a cavalcade of new assets, which the exchange accented as one of the biggest novelties. As the firm said in an announcement:

“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. With this shift in process, our customers can expect us to list most assets over time that meet our standards.”

The XRP investors long grumbled that Coinbase had declined to list their token, even as it listed other cryptocurrencies with smaller market caps. Even though this announcement does not guarantee that the firm will list XRP – there is still some allegations saying that it should be regulated as a security.