However, at the time, investors in New York were barred from investing in the cryptocurrency, leading some to speculate that Coinbase viewed XRP as a security.
These worries have seemingly been put to bed, as Coinbase announced Monday that New York residents are now able to buy and sell XRP directly from the website and mobile trading apps.
XRP (XRP) is now available to Coinbase users who are New York residents. New Yorkers can now log in to buy, sell, convert, send, receive, or store XRP on https://t.co/bCG11KMQ6s or using our iOS and Android apps.https://t.co/5VE1WklrWo pic.twitter.com/Zp5odgaoHs
— Coinbase (@coinbase) May 13, 2019
XRP has already been available to Coinbase users across the rest of the United States, in addition to the U.K., supported E.U. member nations, Canada, Singapore and Australia.
The announcement has helped XRP gain over 27% in the last 24 hours, bringing its price to $0.412827 and giving the altcoin a $17.4 billion market cap.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.