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Ripple [XRP] falls below $1 after Coinbase denies rumors – looks like the flight crashed!

Sanchit Ameria



XRP price falls
Source: Wikimedia Commons

Soon after the value of Ripple [XRP] started its flight, it crashed and fell below $1. The current price of the coin is $0.93 crashing by more than 11% in the past 24 hours. When everything started to seems just right for Ripple, the market cap fell from $41.57 billion to $37.750 billion.

There are speculations that this was caused due to the non-confirmation on behalf of Coinbase, regarding the acceptance of the coin in its exchange platform. This event was one of the main factors that led to the value hike of the coin and once the investors realized there was no official statement, XRP market started to fall.

Coinbase denying any addition of new tokens

Coinbase denying any addition of new tokens

This has led to a lot of distress in the community but there are still a few clinging onto to it and expecting the value of the coin to hit $10 soon.

Thomas Ripple, an XRP investor comments to this on Twitter:

“Horrible day for #Ripple #XRP! Oh wait, we are still up for the day… never mind.”

Harees, another Twitterati says,

“#XRP #Ripple is the exact definition of a pump and dump.”

Amidst all this hassle, there are investors asking Coinbase to add XRP to their listing while ensuring Coinbase knows that they don’t need them.

XRP fanatics justifying why Coinbase requires XRP

XRP fanatics justifying why Coinbase requires XRP

Ripple Queen, an XRP and TRX investor says,

“Sooo Coinbase I’m going to be totally honest – Yes #RIPPLE wants you but we definitely don’t need you!! We have plenty of other exchanges that list us.. people who see the beauty of #XRP will buy with or without you.”

Ananth Kumar, the Chief Internal Auditor at one of the top MNC’s in India says,

“Well, people might claim that an exchange doesn’t matter much for a coin. The inclusion rumors made such a huge difference yesterday but look at it now.”

John Humphery, an XRP investor says,

“Say what you want. But for me, it being included in Coinbase was like a cherry on top of my Chocolate, Vanilla and Blackcurrant ice-cream.”

Irrespective of XRP being listed in top exchanges with top trading volumes, namely, Bithumb, Binance, and Upbit, the speculations of Coinbase listing surely got XRP the hike, and the non-confirmation of the same has let the price drop. Just this past week there were questions raised about the unchanging prices of Ripple despite several international partnerships.

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A part-time contributor at AMBCrypto, Sanchit is a IIM, Indore graduate with interests in the blockchain and cryptocurrency technology. His work has been published by Indian Commerce Magazine and a couple of other local publications. Sanchit currently does not hold any value in any cryptocurrencies or projects.

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