Ripple (XRP) Is Surging, Boosting Bitcoin–Here’s Why

Story by: Billy Bambrough

Ripple (XRP) has broken the wider cryptocurrency downturn today, adding over 7% following the weekend’s wild market moves, after a surprise announcement from U.S. exchange and wallet provider Coinbase.

Coinbase has revealed it will today add ripple, a common name for the XRP tradable token, to its platform for its Coinbase Pro users as the company begins to ramp up its support for different cryptocurrencies.

The news moved the needle on a number of other major cryptocurrencies, including bitcoin, litecoin, bitcoin cash, and stellar, according to price data from CoinMarketCap.

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Ripple’s XPR been heavily sold off over the last six months, following the wider cryptocurrency market lower.GETTY

The ripple (XRP) price is now trading at a little over $0.32, according to the latest prices from CoinDesk’s tracker.

“XRP trading will initially be accessible for Coinbase Pro users in the U.S. (excluding New York), U.K., supported European Union member nations, Canada, Singapore, and Australia,” a Coinbase blog post read. “Additional jurisdictions may be added at a later date.”

San Francisco-based Coinbase already supports bitcoin, ethereum, litecoin, and bitcoin cash and has indicated it is considering adding many more in coming months.

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