After Ripple has reached $3.8 per coin on the stock exchange, it began to fall. The reason was not only correction but also the exposure of the news that the Coinbase exchange plans to include the Ripple to the list of supported cryptocurrencies. What will happen to the coin next?
The post on the Coinbase blog has reduced the capitalization by $30 billion
It was expected that the integration with the new large exchange would increase the interest of investors in the "banking cryptocurrency", and with the advent of new players, the cost will grow. But investors' expectations were not justified - Coinbase officially denied this information.
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. - underlined in the message Coinbase.
So, the Cryptocurrency for the day lost almost 25% of the maximum cost.
The Coinbase exchange also reminded that in its summary of the rules issued a few months ago, the criteria for adding new cryptocurrencies are highlighted.
What will happen after correction?
We can't say that this news has dealt a critical blow to the currency. It is an exaggeration. During the week the rate will stabilize. It is difficult to say at which point it will stop, but it is unlikely to drop below $2.5. Given the rapid recovery, the coin can resume growth and reach a mark of $4, so the post on the Coinbase blog has only slightly shaken the XRP.
Probably, the downfall of the rate on the stock exchange motivated investors to put their money, which was waiting for a good time. Right now, Ripple remains a promising cryptocurrency for at least a short-term investment in trading on the stock exchange.
Information Source: Coinbase