After repeated rumours about Coinbase adding Ripple to its platform, Ripple was one of the biggest cryptocurrency gainers on March the 5th. But later, Coinbase announced that they did not make any decision to add addition assets to their platform. Now Ripple is losing over 10% of its price.
Ripple Not Being Added to Coinbase
Unfortunately for Ripple (XRP) supporters and enthusiasts, it will not be listed in Coinbase or GDAX. The information has been revealed via Twitter by Coinbase official account.
The Tweet reads as follows:
“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.”
On Monday the 5th, Ripple was one of the best performing cryptocurrencies in the market. Its price reached $1.08 dollars in some exchanges and it plummeted down to $0.95 dollars. At press time, Ripple is the third cryptocurrency in the top 100 with the biggest loses of over 10%.
Fake Ripple Rumours
Different rumours were circulating about the possibility that Coinbase could add Ripple to their platform. Most of this information was based on the fact that Brad Garlinghouse, CEO of Ripple, and Coinbase CEO, Asiff Hirji, were on CNBC’s “Fast Money” program.
In over 24 hours, Ripple grew more than 17%, according to coinmarketcap. At the moment, Coinbase is offering four cryptocurrencies: Ether, Bitcoin, Litecoin and Bitcoin Cash. All of them are also available in its trading platform, GDAX.
On January the 4th, Coinbase released a statement in which they explained that they are not going to add any cryptocurrency in the short term. But since the last year that rumours are circulating about the possibility of Coinbase adding Ripple. Indeed, in December, the cryptocurrency reached $3.84 dollars per coin.
The social media was one of the actors that produced this important spike in the price. Most of the accounts involved into generating this FOMO (fear of missing out) were participating in Twitter and Reddit, two social networks that have active cryptocurrency communities.
The cryptocurrency market shows how volatile its assets are. Cryptocurrencies can move 10% in a matter of hours to one side or the other. These natural movements give activity to the market and the possibility for traders to profit from it. Individuals and investors that do not know how to read this signs, will ultimately suffer the consequences.
At the moment, Ripple is being traded around $0.94 dollars per coin and is losing more than 10%.
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