After losing the second spot on the list of top trading currencies, weeks back, XRP is still traded at the value of around 0.30$ without enough momentum to go towards the price of at least 0.40$, presently traded at 0.31$.
With the announcement that came from Coinbase several days ago, everyone expected to see XRP spiking against the fiat in what was imagined as the best-case scenario price pump, XRP still didn’t get enough positive momentum to be able to show any significant gains.
In addition, XRP is showing a drop in its value for the past seven days, without going further from around -2%, while the majority of top traded cryptos is also dropping against the fiat and at an accelerated pace in oppose to Ripple’s XRP.
Despite the fact that Coinbase is preparing to make XRP available through the majority of services offered within the operations of one of the biggest exchange platforms in the market, Ripple is once again faced to allegations that the company paid Coinbase for the listing of XRP, still suspected to be a security in opinion of oppositionists.
Ripple Down by -3% After the Coinbase Listing
It appears that the once relevant Coinbase listing that often resulted in instant price pumps is slowly losing on its value due to the bear market and still active cryptocurrency winter.
XRP managed to go as far to touch the value of 0.34$ from its low of 0.30$ and below the initial value, however, the cryptocurrency soon fell back down to touch the price of 0.31$ after going down by -3%.
In the meanwhile, Ripple s being accused of paying for the listing, similar to previous accusations on the same matter back in 2018 when Ripple was allegedly offering millions to Coinbase and Gemini exchanges in return for listings on these two prominent exchange markets, which is not contributing to the dropping value of XRP in the market.
With the latest change, on the last day of February, XRP is showing gains in the last several hours, however, still showing negative returns in the last 24 hours alongside the last seven days.
Many XRP enthusiasts were anticipating the previously announced listing on Coinbase once the exchange changed the listing policy and allowing for open submissions, believing that XRP would be driven towards new highs pushed by this price pump factor, however, expectations failed XRP holders.
For now, inbound transfers in form of XRP are allowed on Coinbase Pro, as there will be several listing stages for the crypto before XRP becomes available on Coinbase platform and Coinbase application.
XRP will have to go through a total of 4 stages before it becomes available for full trading on Coinbase.com as well as on the trading app, previously due to go through “Transfer-only” (XRP’s present stage), “Post-only” and “Limit-only” stage.
In the meantime, crypto enthusiasts are turning focus to post-Coinbase effect, which is said to be related to sudden drops in performance in the market every time a listed crypto goes through a price pump on the day of the official listing.
One of such enthusiasts used Ethereum Classic (ETC) and ETC Coinbase listing that brought a serious surge to ETC the day of the listing after which the post-Coinbase listing trend stroke in form of accelerated losses, comparing it to the case of XRP.
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