Crypto

XRP Price Gains 5% as Coinbase Pro Deposits go Live

Another interesting turn of events is keeping the cryptocurrency markets in its grip. With Bitcoin moving in the green again, the expectations for all alternative markets are rather steep. What is remarkable is how the XRP price is moving up in quick succession. Its 5% gain primarily stems forth from the recent Coinbase Pro announcement.

XRP Price Turns Bullish Again

It has been coming for a day or two now, but it appears most of the cryptocurrencies, tokens, and digital assets are turning bullish once again. Although Bitcoin is still relatively fragile right now, it would appear there is some positive momentum brewing across other markets. XRP Is an interesting example in this regard, as its price is shooting up like a rocket once again.

To put this in perspective, it would appear there is a 5.5% XRP price uptrend in terms of USD value. As such, the value per XRP has returned to $0.32. Considering how the price was bound to hit the low $0.29s over the weekend, it seems things are taking a turn for the better. There is also a 5% improvement in XRP/BTC, as this ratio reached 8,326 Satoshi once again. Both developments are very interesting to keep an eye on under these circumstances.

The big news is how XRP is being listed on Coinbase Pro. It is important to distinguish this doesn’t mean XRP will be added to Coinbase itself, but only the Coinbase Pro platform. While this is still a very big development, all things considered, one has to keep in mind there is only so much momentum this announcement can generate. Inbound transfers are already live, but trading has not been enabled live as of yet.

There is also an interesting tweet by Binance’s CEO regarding XRP. Although many people dislike the exchange for not adding XRP at this time, he does confirm XRP has a great user base. While this is a nod of approval of sorts, it will not necessarily lead to a listing on Binance either. For the XRP community, it will offer an interesting topic of debate regardless.

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It is always good to see the community pay close attention to service providers meddling with XRP. In the case of LiteBit, a European service provider, they are still labeling XRP as RIpple. That is not entirely uncommon, although it is something which should have been fixed a long time ago. Ripple and XRP are two completely different things, thus it is crucial to distinguish between the two.

For the time being, it would appear as if the XRP momentum will remain bullish for a few more hours. However, one has to keep in mind this will primarily depend on what happens to Bitcoin in the coming hours and days. As long as Bitcoin’s momentum remains pretty weak, anything can happen, either for better or worse.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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