Ripple Dips after Coinbase Rejects Rumors of a New Asset

Ripple has taken a hit by a move to end rumors that Bitcoin’s centralized competitor might be introduced to the leading trading platforms in the US. No decision to add new assets to either GDAX or Coinbase has been made, the exchange said in a blog post dismissing any statements to the contrary. Ripple lost some $30 billion of market capitalization on the day of the announcement.

Also read: Rising Ripple Threatens to Usurp Bitcoin and Usher In “The Rippening”

God Giveth, God Taketh

The clarification on the matter came in response to unverified rumors and unfounded reports that Coinbase might add Ripple to its cryptocurrency markets. They have most certainly helped fuel Ripple’s surge that doubled its price in a week. After Coinbase stated it had no intentions to change its Digital Asset Framework in the short run, Ripple wobbled in charts and lost 20 percent of its value before it rebounded a little. Its capitalization is now below $125 billion, down from Thursday’s peak at almost $149 billion. One XRP coin is currently trading for less than $3.25 USD at the time of publishing according to Coinmarketcap.

Ripple Dips after Coinbase Rejects Rumors of a New Asset

Coinbase is the biggest cryptocurrency marketplace in the US and operates the Global Digital Asset Exchange (GDAX), a platform for trading a variety of digital assets, and a broker processing crypto-fiat transactions. It trades Bitcoin, Litecoin, Etherium and has added Bitcoin Cash support last month. BCH jumped 70% after the latest update of its Digital Asset Framework. The December 17 announcement had been proceeded by a leak that attracted Read More Here