Ripple’s price crossed $1 after Coinbase acceptance rumors, now down by 4%

Ripple (XRP) is dubbed as the third-largest cryptocurrency by market capitalization and this is the second time one of the popular American crypto exchange, Coinbase, is denying the rumors saying Ripple to join the platform. Back in January also, Coinbase refuted rumors of adding Ripple tokens on its platform.

Ripple surged as much as 6% on Monday and crossed the $1 mark after rumors started catching more heat that Coinbase might have been planning to announce support for XRP. The confusion might be created by a panel discussion on cryptocurrency trends by CNBC’s Fast Money which is set to feature Ripple CEO Brad Garlinghouse and Coinbase President Asiff Hirji in the session.

Comments on a Reddit thread also supported the speculation that Coinbase might be thinking to add support for Ripple. Coinbase responded to the rumors on its official Twitter account that no additional asset is in plans to be included, as the statement reads,

“Our January 4th, 2018 statement continues to stand: 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.”

Soon after the announcement that Ripple will not be added to Coinbase, XRP went down by over 4% and is trading close to $0.97 (as of writing).

Ripple is the only coin in the top five by market cap that isn’t available for trading on Coinbase. This is because of Ripple’s centralized nature and different approach as compared to other crypto projects.

It must be noted that currently, Coinbase offers trading for Bitcoin, Bitcoin Cash, Litecoin, and Ether, meaning the addition of XRP could enable a new outlet for retail trading. So we only hope for the growth of most stable cryptocurrency.