Coinbase refutes rumors of adding Ripple on its platform

Coinbase is not including Ripple tokens or any other cryptocurrency on its platform as of now. The CEO, Brian Armstrong, has tweeted.

Sure Ripple was the top performing cryptocurrency of 2017. It gave massive gains to its investors. The trend has continued so far and the early days of 2018 have turned out to be good for it. But for those waiting to see Ripple on Coinbase, the dream wouldn’t come true anytime soon.

See also: How to buy Ripple in Pakistan

The Ripple token XRP was being traded at $0.21 at the start of December and now at the time of writing this, the token is being traded at $2.70. This is a massive shed in value from the peak value of $3.70 on which it was being traded just a few hours ago.

What fueled this increase in the value of XRP tokens? Somehow Ripple has managed to stay in news in one way or another. Mostly the news has been positive, encouraging and sell the dream of a strong future for Ripple and its tokens.

This week rumors started circulating that popular cryptocurrency exchange of Coinbase, GDAX will be introducing Ripple to its platform. The rumors were fueled by Reddit Community and Twitter tweeps. As a result of these rumors, many investors gained confidence and bought more Ripple. This increase in demand led to boost the value of Ripple as well.

But interestingly, as soon as the CEO refuted these rumors, the value of XRP went downhill as well. At the time of writing this, the XRP token is being traded at $2.70. The market valuation of XRP has decreased from over $148 billion to $126 billion.

Coinbase has emerged as a strong force in the cryptocurrency world. It is the most popular application on Apple Appstore beating Facebook, Twitter and many other popular applications. This reveals its importance and adoption rate by the general public.