Ripple broke yesterday’s crypto downturn with the news that Coinbase was adding XRP, its tradable token, to its Coinbase Pro. The price of the world’s third largest cryptocurrency in terms of market cap jumped significantly with the surprise announcement.
"XRP trading will initially be accessible for Coinbase Pro users in the US (excluding New York), UK, supported European Union member nations, Canada, Singapore and Australia. [...] Additional jurisdictions may be added at a later date." — Coinbase's blog post.
Coinbase's professional trading platform support emerges as an example of the highly awaited institutional support for crypto, which usually strengthens cryptocurrency prices.
And today, although XRP’s rally may seem to have unwind — the current price action is slightly bearish — it is not likely over. At press time XRP is quoted $0.323, registering a price increase of 6.2 percent in the last 24 hours, according to Coinmarketcap.
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