After months, if not years of waiting, XRP holders were blessed on Monday morning. Coinbase Pro, one of the world’s most well-respected and utilized exchanges, added Ripple’s go-to asset.
Per an announcement from the San Francisco-based startup, which was headlined with “When XRP?? Now!,” the popular cryptocurrency will be available for Pro users in the U.S. (save for New York state), the U.K., most European Union nations, Canada, Singapore, and Australia. Other supported jurisdictions may be added at a later date.
When XRP?? Now! XRP/USD, XRP/EUR, and XRP/BTC order books will soon enter transfer-only mode, accepting inbound transfers of XRP in supported regions. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/MWUtUm4wRh
Starting now, Pro, Coinbase’s bigwig-centric platform, will accept inbound deposits of XRP to its platform. The deposit period is expected to last for about 12 hours, before the company opens its order books for full on trading.
However, the company will not open order books until a sufficient supply of XRP is deposited on the exchange, to avoid slippage due to a lack of liquidity, among other concerns. The order books slated to be opened include XRP/USD, XRP/EUR, and the BTC pair.
As with Pro’s other recent listings, like with Maker (MKR), Basic Attention Token (BAT), etc., the books will be opened in four phases. The phases are as follows:
Transfer-only — Only deposits of the cryptocurrency
Post-only — This phase will allow investors and clients of Pro to place limit orders for the XRP trading pairs. Order books will be in post-only mode for a minimum of one minute.
Limit-only — This is the final stage before full trading. This phase will see Coinbase’s trading engine matching limit orders, but not market orders. Order books will be in limit-only mode for a minimum of ten minutes.
Full Trading — In the final stage, full trading services will be available, including limit, market, and stop orders.