was quick to reject the idea<\/a> that Coinbase is actively manipulating XRP\u2019s price. In his view, the theory overlooks the fact that XRP has exhibited the same behavior throughout its history, including during the long stretch when Coinbase delisted the asset and had no apparent influence on its market activity. Coinbase suspended XRP trading in January 2021, but it wasn’t until July 2023 that the cryptocurrency started trading again on the US-based exchange.<\/p>\n\u201cOne heck of a theory about Coinbase being against XRP,\u201d he said, before noting that the token\u2019s movements today are consistent with its established trends. The suggestion of manipulation by Coinbase fails to hold up, as XRP\u2019s price action appears more reflective of broader crypto market movement than any deliberate suppression by the exchange.<\/p>\n
XRP has been trading within a well-defined range between $2.8 and $2.9 in the past seven days. Although it lost the $3 support level as August came to a close, XRP has managed to hold above $2.8 since then, and this level has so far cushioned it from deeper losses.\u00a0<\/p>\n
On the upside, the $3.10 level is the critical resistance to watch. A decisive break above that barrier could shift momentum back in favor of the bulls. Until then, XRP\u2019s price is likely to continue consolidating between $3.10 and $2.8.<\/p>\n
At the time of writing, XRP is trading at $2.82.<\/p>\n
Featured image from Unsplash, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"Data from multiple blockchain trackers shows that Coinbase has drastically cut its XRP holdings, a move that has taken many crypto investors by surprise. Analysts pro-XRP lawyer Bill Morgan has poured cold water on these claims. Rumors Of Coinbase Manipulation Swirl On X US-based exchange Coinbase recently reduced its stash from more than 780 million…<\/p>\n","protected":false},"author":1,"featured_media":6872,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[219],"tags":[220,98,611,843,250,115,254,150],"class_list":["post-6871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-altcoin","tag-altcoins","tag-coinbase","tag-crypto-exchange","tag-crypto-market","tag-crypto-news","tag-cryptocurrency","tag-xrp"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=6871"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/6872"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=6871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=6871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=6871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}