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XRP Price Slides 10 Percent as Coinbase Pro Denies Relisting Rumors

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Fri, 09/10/2021 - 03:58
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Alex Dovbnya
Coinbase Pro was quick to shut down the relisting rumors that started swirling on the social media
XRP Price Slides 10 Percent as Coinbase Pro Denies Relisting Rumors
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Earlier today, four XRP trading pairs (XRP/BTC, XRP/USD, XRP/GBP, and XRP/EUR) started showing up on the mobile app of the Coinbase Pro exchange.   

The price of the seventh-largest cryptocurrency soared almost 12 percent in mere minutes as trading volume started to pick up quickly.

However, Coinbase Pro swiftly moved to shut down the relisting rumors.

In a tweet, it explains that the cryptocurrency was temporarily viewable on the app due to a technical error, but users couldn’t trade the cryptocurrency.

With no relisting in sight, XRP has now retraced almost the entire Coinbase-driven price spike.

XRP
Image by tradingview.com

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Aligning with Coinbase   

Coinbase moved to indefinitely suspend trading and deposits in XRP on Jan. 19 after the U.S. Securities and Exchange Commission alleged that the cryptocurrency was an unregistered security in its landmark lawsuit against Ripple. Prior to that, multiple other exchanges also ditched XRP due to regulatory pressure.      

After Coinbase recently revealed that it was facing a lawsuit from the SEC, many members of the XRP community started urging the company to relist XRP in a show of solidarity with Ripple.  

Ripple CEO Brad Garlinghouse and CTO David Schwartz were also quick to align themselves with their big-name companion in misfortune.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.