Coinbase denies XRP relisting rumors

The Bitcoin exchange Coinbase explained that XRP’s appearance on the Coinbase Pro platform was due to a technical issue. Earlier, a message about the asset’s relisting was posted on Twitter.

As previously announced, Coinbase has suspended trading in XRP. Due to a technical issue, XRP was temporarily viewable on the Coinbase Pro mobile app for some customers but was not tradeable.

— Coinbase Pro (@CoinbasePro) September 10, 2021

\”As announced earlier, Coinbase suspended XRP trading. Due to a technical issue, some Coinbase Pro customers could see XRP in the mobile app, but it was not tradable,\” the company wrote.

In the night from 9 to 10 September, the Twitter account Whalebot Executive posted a message about XRP being listed on Coinbase Pro, but soon deleted it, stating that the information could be unreliable.

In the wake of the publication, XRP’s price rose by 12% within an hour, briefly reaching $1.23. At the time of writing, the cryptocurrency traded near $1.12.

Coinbase stopped trading XRP in December 2020 after an SEC lawsuit against Ripple. According to the agency, the firm had for seven years sold unregistered securities in the form of tokens and raised $1.3 billion during that period. Meanwhile, the Bitcoin exchange maintained support for the asset in the Custody and Wallet custody services.

Earlier, XRP’s price had already surged on rumors of relisting on the Bitcoin exchange. In April, when a link to the relisting procedure was found in the platform’s API code, quotes rose by nearly 18%.

On September 8, Coinbase said the SEC warned the company of legal action if it launched the crypto-savings accounts Lend.

Brad Garlinghouse, the head of Ripple, backed the Bitcoin exchange and hinted at possible cooperation between the two organisations.

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