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Crypto Markets Climb After Volatile Weekend, XRP Surges Over 11% Due to Coinbase Listing

Avatar Cole Petersen 7 months ago

The crypto markets have climbed slightly today, recovering some of the losses they incurred on Sunday. XRP has led the markets today and has surged over 11% due to the recent news that it will soon be listed on Coinbase – one of the largest cryptocurrency exchanges in the world.

Although the markets have experienced some levels of volatility over this past weekend, analysts are still leaning bullish on some major cryptocurrencies – including Ethereum.

Crypto Markets Trade up After Weekend Volatility 

Most major cryptocurrencies have been able to climb today, with the overall crypto market cap climbing from daily lows of just over $127 billion to highs of over $132 billion.

Ethereum is currently one of the worst performing major cryptocurrencies today, as it is only trading up 0.7% at its current price of $142. Despite this, analysts still believe that ETH may soon see some bullish momentum, assuming it is able to hold steady around its current price levels.

“I have bullish bias for $ETH in mid term & have no hesitation in playing the Range by buying the range lows for some other worst affected coins which are up trending in larger time frames… My bullish bias invalidates if we break 118$ level for $ETH,” explained Trading Room – a popular cryptocurrency analyst group – in a recent tweet.

Although ETH is currently up less than 1%, most other major cryptocurrencies have climbed today, with EOS trading up roughly 1.5%, Litecoin surging nearly 5%, and Bitcoin Cash climbing 4.5%.

XRP Surges Over 10% After Coinbase Announces Listing  

It’s no secret that XRP investors have long hoped that Coinbase – one of the largest cryptocurrency exchanges in the world – would list the cryptocurrency. Previously, analysts have speculated that Coinbase’s hesitation to list XRP on their platform was due to concerns that the cryptocurrency may eventually be deemed as a securities product by the U.S. SEC.

Despite this, earlier today the exchange noted that the cryptocurrency would, in fact, be added to the exchange in the near-future.

“When XRP?? Now! XRP/USD, XRP/EUR, and XRP/BTC order books will soon enter transfer-only mode, accepting inbound transfers of XRP in supported regions. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours,” Coinbase Pro exclaimed in a recent tweet.

This announcement instantly sent XRP’s price surging, as it is currently trading up over 11% at its current price of just under $0.34.

Although it is currently unclear as to what effect of this listing may have on the long-term price action of XRP, it is likely that the cryptocurrency will continue to see some upwards momentum in the near-future due to the news and excitement surrounding this listing.

Featured image from Shutterstock.
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