Ripple’s XRP token fired 13% after a mistake on the Coinbase

Despite its relatively strong past and large market capitalization, the XRP token from Ripple is still perceived negatively. Ripple still facing lawsuit from the US Securities and Exchange Commission (SEC). According to the applicant, in 2013 it sold unregistered securities, thereby illegally acquiring them $ 1.38 billion.

The Ripple case still persists

Following the outbreak of the case, several leading crypto exchanges led by Coinbase decided on the XRP token delist from your offer to suspend the ability to trade this token.

A few days ago, however, rumors began to appear in the world of cryptocurrencies and on social networks about the re-inclusion of XRP on Coinbase. Several traders began to respond after the appearance of business pairs in the Coinbase Pro mobile application XRP / BTC, XRP / USD, XRP / GBP and XRP / EUR.

Coinbase reaction

The rumors have not been confirmed. The Exchange clearly stated that in the case of these rumors it was only a technical error in the application that caused the XRP token to be displayed in the mobile application. However, trading was not possible.

As previously announced, Coinbase has suspended trading in XRP. Due to a technical issue, XRP was temporarily viewable on the Coinbase Pro mobile app for some customers but was not tradeable.

– Coinbase Pro (@CoinbasePro) September 10, 2021

As usual, such reports can 90% affect the course of the graph. Although the XRP token was able to fire by about 13%, after the clarification of the reports by Coinbase, there was a sharp decline.

 

XRP recovery

Following the revelation of the lawsuit, Ripple was under strong pressure not only from the SEC but also from regulators. In any case, several exchanges have suspended trading in this token on indefinitely.

I think this would be a good time for Coinbase to publicly recognize that the SEC is overstepping and make the leap and realist XRP. Yes, you may face a lawsuit, but it’s time the crypto industry stand together and support each other. I stand with Coinbase and Ripple https://t.co/K94PwGOWLz

– Jesse Hynes (@jesse_hynes) September 8, 2021

At least I don’t expect any important reversals until the lawsuits are over.