Decision to cut off XRP support from Coinbase Wallet met with mixed reactions all across crypto space
Coinbase Wallet, a product of the cryptocurrency exchange of the same name, will disable support for XRP and some other coins, it was informed of a few hours ago. According to the official Coinbase Wallet Twitter account, this will happen early next year and is due to the low activity around these assets.
The news has been met with a mixed reception, especially by those who identify with the XRP community. To many, it is reminiscent of XRP’s delisting from Coinbase itself a few years earlier, although the exchange went ahead with it then due to regulatory pressure.
Without denying the reasons behind the Coinbase Wallet team’s decision, it is worth mentioning that according to Coinmarketcap, XRP is still one of the largest cryptocurrencies and the eighth largest with an average daily turnover of $1 billion.
Hot wallets battle continues
Coinbase Wallet’s competitors have not failed to take advantage of the withdrawal of support for such a large asset with a big community around it. Xumm Wallet from XRPL Labs stated that the low activity mentioned in the report is due to everyone using Xumm for XRP transactions.
At the same time, Trust Wallet CEO Iovine Chen expressed genuine surprise upon hearing that XRP is of little use, inviting users of all deprecated crypto assets to migrate to Trust Wallet (TWT) with an appropriate mechanism already in place.
