Ripple price (XRP/USD) tumbles as Coinbase denies GDAX listing rumours

Ripple price (XRP/USD) tumbles as Coinbase denies GDAX listing rumours

The Ripple price (XRP/USD) has seen a sharp decline after Coinbase rejected rumours that it would soon list the cryptocurrency on its popular virtual coin exchange GDAX.

The second most valuable cryptocurrency on the market set a new record high of $3.84, but its price tumbled after the largest US cryptocurrency exchange said that it had not made a decision to add any new digital assets to its platforms.

“A committee of internal experts is responsible for determining whether and when new assets will be added to the platform in accordance with our framework,” Coinbase said in a blog post published yesterday. “These individuals — and all employees at Coinbase — are subject to confidentiality and trading restrictions. Coinbase will announce the addition of new assets only via our blog post or other official channels.”

“As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company,” it added.

The statement is a response to rumours circulating in the crypto stace that Ripple might be the newest addition to Coinbase’s portfolio of digital assets. The platform currently supports only four cryptocurrencies – Bitcoin, Ethereum, Litecoin and Bitcoin Cash, with the last one added only a couple weeks ago.

Ripple fell immediately after the release of the statement, ending the day at $3.20, according to data from cryptocurrency tracker Coinmarketcap. The coin has spent most of today’s trading defending the $3 level.

As of 16:44 GMT, the Ripple price stood at $3.03, down 16.4% from the same time yesterday. The coin’s total market capitalisation currently stands at $117.5 billion.

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

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