Why XRP's Price Saw Surge, Crash

The price of Ripple’s native crypto token XRP XRP/USD fell just as quickly as it rose after Coinbase Global Inc COIN confirmed it hadn’t actually re-listed the crypto token.

What Happened: A number of listing bots and users on Twitter reported that they were able to view XRP trading pairs on Coinbase Pro’s mobile application Friday.

The crypto exchange later declared that it had not re-listed the token and the XRP trading pairs were only viewable as a result of a “technical issue.”

Sounds more like manipulation than a technical issue pic.twitter.com/JINygVDnmj

— Fintwit (@fintwit_news) September 10, 2021

XRP’s price surged after the rumored listing only to erase those gains almost instantly after Coinbase confirmed XRP was unavailable for trading.

Although trading XRP on Coinbase remains out of the question, the crypto exchange recently added the XRP as an option for cross-border payments on Coinbase.

“You can now send money to any user with a Coinbase account around the world using XRP or USDC. By using cryptocurrencies that are optimized for cross-border transmission, you can send and receive money virtually instantly by sending those cryptocurrencies and having the recipient convert them into local currency,” stated Coinbase.

XRP Price Action: At the time of writing, XRP was trading at a price of $1.05 after dropping by 3.48% in the last 24-hours.