The ripple price declined 13 percent on Friday after Coinbase rebuffed rumors that it had already decided to list XRP on its brokerage and professional trading platforms.
Ripple Price Declines 13 Percent
The ripple price took a break from its heated rally on Friday, declining 13 percent to $2.64 on cryptocurrency exchange Bitinex after peaking above $3.00 the day before — a mark that temporarily made Ripple co-founder Chris Larsen the eighth-richest person in the world, at least on paper.
A plurality of XRP volume continues to be centralized on South Korean exchanges, where it is priced above $4. Consequently, ripple’s global average price is $3.18 — down from a peak of $3.84 on Thursday — which gives the token a circulating market cap of $123 billion.
Coinbase Denies Plans to List XRP
XRP’s rally appears to have run out of steam following Coinbase’s recent announcement that the company did not currently have any plans to list ripple on either its brokerage platform or GDAX, its order-book exchange.
Many XRP investors had long been bullish that Coinbase would add support for the token in the near future, particularly since the company added bitcoin cash last month. However, the rumors intensified earlier this week when independent journalist Logan Kugler — a self-disclosed XRP investor — tweeted that a source had told him that “talk about XRP getting added was top of discussion among employees” at Coinbase’s Christmas party.