XRP Soars To $0.423 As Coinbase Activation Is Announced

In the coming altcoin news over the past 24 hours, we have a clear winner. We are talking about Ripple’s token XRP which managed to add 21% to its price on the day, soaring to $0.423 in less then 24 hours. The fact that XRP soars has been backed by a couple of factors, one of which is the Coinbase announcement which states that New Yorkers can finally trade cryptocurrency.

Just as Bitcoin neared and shattered major resistance levels, the altcoins picked up the momentum. As XRP soars, it also reaffirms its third spot on the market, reawakening the bulls and being featured as the top coin in the latest cryptocurrency news.

If we don’t count the correction, XRP rose by 25% and the rise has persisted for hours. Coinbase’s announcement is obviously on the back of it, coinciding with the biggest event that is ongoing in New York City – the Consensus 2019 conference.

What’s interesting is that XRP soars with the Coinbase news – but the relationship between Coinbase and XRP has not been smooth. Back when the exchange decided to include XRP on its roster, it was marred by a lot of allegations of insider trading. At the time, the best cryptocurrency news sites reported that employees at Coinbase were specualted to purchase XRP on the cheap before the listing, which was denied by the CEO Brian Armstrong.

As XRP soars and continues its roller-coaster movement, it is featured in the altcoin news and discussed by a lot of analysts for its groundbreaking performance. The truth is, XRP has added more than $4.6 billion to its market cap in the past 2 days and is right now valued at more than $17 billion which is its highest point in months.

Notably, the only exchange which accounts for the “real” XRP volume as XRP soars, according to the Bitwise report, is Binance. Despite the fact it has only 1.9% of trade volume, it is seen as most legit. On the other hand, BW.com takes the top spot for XRP global volume, accounting for 11.1% of the total volume of the XRP/USDT trading pair. Other notable exchanges include the names of UpBit, ZBG, Bit-Z and Digifinex which are all active as XRP balloons to new heights.