Ripple's XRP price fell more than 25% following Coinbase dispelled rumors that it would quickly provide trading in the digital currency. Even though XRP climbed significantly as $3.84 yesterday, the cryptocurrency dropped to $2.83 as of today, CoinMarketCap information reveals. The digital currency took this sharp dive following Coinbase announced yesterday that it did not have ideas to offer you trading of any additional crypto-currencies on its exchangesin the near future.
Source UseTheBitcoin
"As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company."
XRP has benefited from a number of tailwinds recently, appreciating sharply as the currency got good news coverage and robust momentum. As a consequence of these good elements, the digital currency has surged much more than 46000% this year alone.
Charles Thorngren, CEO of Noble Alternative Assets stated Although the Coinbase trading rumors didn't pan out, the XRP token still appeals to traders and investors.
"A lot of people were buying Ripple because they thought it would be available on Coinbase and that would lead to an influx of investors with access to the coin," he stated. "Now we’re seeing some pullback because this didn’t happen."
Added "However the price drop due to Coinbase does not affect XRP overall and it doesn’t change the reason to own XRP" "Coinbase is for the small investor, but XRP is moving because of the institutional investors”. Charles Thorngren Stated
Check current price on coinmarketcap.com