Ripple News and Price Overview: Non-Listing of Ripple’s XRP By Coinbase May Raise Dust for Coinbase. Thursday, July 19
Non-Listing of Ripple’s XRP By Coinbase May Raise Dust for Coinbase
Many Ripple investors are reading malice in the refusal of Coinbase to list XRP. A number of investors have shown concern over the seeming reluctance of the largest exchange to list the number 3 coin according to market capitalization.
An investor Pete Dakin accused the exchange of market manipulation in a tweet in which he wrote, “@FINRA if @Coinbase, the biggest #crypto exchange in the US elects not to list #3 crypto but lists 1,2,4,5…16, this seems like an abuse of market power. Straight manipulation. Please look into the way they are using their power to manipulate token prices inc harm to #xrp”
FINRA did reply thanking the poster for bringing the issue to their attention and promising to look into it. FINRA is an independent body whose responsibility is to oversee the relationship between investors and dealers.
There have been arguments that the Coinbase as a private company has the right to decide which coins to list and those not to. However, in a fair market, using market dominance to influence the market could result in suits as we may likely see in the Coinbase-Ripple sticky situation.
XRP Price Analysis
Ripple price recovered slightly but is facing a key resistance near $0.4500 against the dollar. An unexpected positive market movement brought XRP even above $0.51, however a fast correction that is happening now, shows that it will be back again at the $0.45-0.46 range, as it already fell to $0.47 mark.
Although the coin has shown some prospect of sharp increase against the dollar, it must clear the $0.4500 mark to have a sustained acceleration towards the $0.500 value. That is positive, however, the flip side indicates that a break below $0.4400 value may push the bearish trend towards $0.4320.
XRP/USD Price Chart, Thursday July 19th:
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