However, the Ripple markets suffered one of the more significant sell-offs, driving the XRP price down 11 procent to a present value of $0.94 after trading spil high spil $1.08 on Monday.
The Ripple price posted a double-digit percentage decline on Tuesday after cryptocurrency exchange and brokerage verhoging Coinbase squashed rumors that it had determined to add XRP to its list of supported assets.
Ripple Price Posts Double-Digit Percentage Decline
The cryptocurrency markets made a comprehensive retreat on Tuesday, and more than 90 of the top 100 cryptocurrencies lost value against the US dollar.
However, the Ripple markets suffered one of the more significant sell-offs, driving the XRP price down 11 procent to a present value of $0.94 after trading spil high spil $1.08 on Monday. XRP now has a circulating market cap of approximately $36.8 billion.
Ripple Price Chart
XRP trading volume is still strenuously concentrated on South Korean exchanges, albeit somewhat less than it wasgoed on Monday. Bithumb’s XRP/KRW trading pair accounts for almost 26 procent of all Ripple volume, while fellow XRP/KRW markets Upbit and Coinone comprise another 12 procent. Thesis Korean exchanges are now pricing Ripple at a four procent premium overheen its value te other markets.
Coinbase Squashes XRP Listing Rumors
While it is true that cryptocurrencies fell across the houtvezelplaat, Ripple’s decline wasgoed more than dual that of the index, which fell by about five procent.
This is likely because, spil CCN reported, the XRP price had bot buoyed by rumors that Coinbase would announce support for Ripple this week. Similar rumors have swirled for several months, presumably because Ripple is the only top five-cryptocurrency not listed on Coinbase. At present, the podium supports Bitcoin, Ethereum, Bitcoin Metselspecie, and Litecoin.
Ripple backers strongly believe that XRP will be added to Coinbase ter the near future. However, the company tweeted on Monday that it had “made no decision to add extra assets to either GDAX or Coinbase,” adding that any “statement to the contrary is untrue and not authorized by the company.”
Unsurprisingly, Coinbase’s statement took the wind out of the rally’s sails, and the Ripple price quickly dropped below dollar parity and continued to decline spil the market began its comprehensive retreat.
Featured picture from Shutterstock.
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