RATE Group | Coinbase News Fails to Rescue XRP from Bearish Trend
52288
post-template-default,single,single-post,postid-52288,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Coinbase News Fails to Rescue XRP from Bearish Trend

10 Dec Coinbase News Fails to Rescue XRP from Bearish Trend

Posted at 22:50h in Bitcoin News by

[ad_1]


bitcoin price flat tire ripple xrp

It was the announcement that ripple (XRP) investors had been anticipating for more than a year, but the news that crypto exchange giant Coinbase was “exploring” support for the second-largest cryptocurrency failed to elicit even a microcosm of the sort of rally that even the mere rumor of a Coinbase listing frequently catalyzed during the 2017 bull run.

Ripple Price (XRP) Fails to Capitalize on Coinbase Announcement

As seen in the chart below, the ripple price failed to secure any sustained momentum following the Dec. 7 announcement, as a brief spike quickly gave way to the downward pressure that has plagued the crypto markets throughout 2018.

Indeed, XRP not only failed to rally against the US dollar in the days following the news but also declined against bitcoin (BTC), succumbing to a recent trend that has seen altcoins shed market share and BTC cement its position as the dominant cryptocurrency. Over the past five days, the bitcoin price is down 12.33 percent, while…

[ad_2]

Source link

Tags:
, , , , , ,