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

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Ripple. Source: Shutterstock, Stanslavs

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.StormGain

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 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 / USD 5m TF. Source: TradingView

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.

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

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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