Ripple price (XRP/USD) pulls back sharply as Coinbase denies listing rumours

The third-largest cryptocurrency attempts to recoup some of its losses on Tuesday, but faces resistance

Ripple price (XRP/USD) pulls back sharply as Coinbase denies listing rumours

The Ripple price (XRP/USD) has seen significant losses in today’s trading, as speculation that the coin might soon be listed on Coinbase has seemingly died down.

The third-largest cryptocurrency on the market rose to a 12-day high of $1.08 on Monday, as renewed speculation that Coinbase would add XRP to its cryptocurrency trading platform boosted investor demand for the digital coin. The rumours stemmed from comments on the social media pointing to an upcoming appearance by Ripple chief executive officer Brad Garlinghouse and Coinbase president and chief operating officer Asiff Hirji on CNBC’s TV programme “Fast Money” on Tuesday.

Coinbase responded to the rumours by reiterating its previously-stated position that “we have made no decision to add additional assets to either GDAX or Coinbase” and that “[a]ny statement to the contrary is untrue and unauthorized by the company”.

In addition, CNBC later clarified that the two executives “are appearing in separate and unrelated interviews on the show”.

With the rumours seemingly dispelled, the Ripple price saw a significant decline in the latter part of yesterday’s session. The coin closed the session at $0.959, down from its opening level of $1.01.

Ripple made an attempt to return above the $1 mark, but it hit a wall around the $0.99 area. As of 12:41 GMT, the Ripple price stood at $0.942, according to data from cryptocurrency tracker Coinmarketcap. The digital coin has lost 11.4% of its value in the past 24 hours.

For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.

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