The price of Ripple xrp dropped more than 25% after Coinbase which is the biggest cryptocurrency exchange in the US dispelled rumors that it may add new digital currencies to its major platform or digital asset exchange, GDAX.
Investors, where sent panicking after watching the currency dropped drastically from $3.84 to $2.83 within 24 hours.
Coinbase in a statement stated that it will strictly abide by the digital asset framework it issued earlier last year explaining the guidelines and procedures for including new digital currency into any of its exchange fold
“As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.” The company stated
The company went further by stating that any plans to add new currencies or asset to any of its platforms will be communicated through official channels.
“A committee of internal experts is responsible for determining whether and when new assets will be added to the platform in accordance with our framework,” Coinbase concluded.
The blog statement puts an end to the rumors that Coinbase is making plans to add Ripple xrp to its list of existing exchanges. Currencies it currently trades in are Bitcoin, Etherium, Bitcoin Cash and Litecoin