Expert Observes XRP Price Gap on These Two Top Exchanges

Crypto enthusiast Micah highlights a two-cent price disparity for XRP between Coinbase and Uphold, sparking interest on arbitrage opportunities.

Crypto enthusiast Micah recently brought attention to a notable XRP price difference on Coinbase compared to Uphold. According to Micah, there is a two-cent disparity between the two platforms. This observation has sparked curiosity among cryptocurrency traders, with some looking to take advantage of the arbitrage opportunity.

Analysis of Price Differences

The first chart from Coinbase shows the price of XRP at $0.52, with a slight decrease of 0.30% over the last 24 hours. It further depicts a fluctuating price throughout the day, peaking at $0.52 and dipping to $0.51.

On the other hand, the Uphold chart displays the price of XRP at $0.5077, marking a more significant decrease of 2.03%. Moreover, the highest price recorded on this chart is $0.52004, with a low of $0.50546. This disparity in the two platforms has prompted market experts to investigate further the contributing factors.

Factors Contributing to the Disparity

In response to Micahs X post, Crypto researcher Darren explained that Uphold typically integrates multiple exchanges. This allows it to aggregate pricing information from a broader range of sources, arriving at the $0.5077 price for XRP.

Uphold taps into multiple exchanges and pairs while coinbase has its own trading. Usa citizens have limited accessibility causing a premium.

This aggregation results in a pricing model that can be more reflective of the overall market, accounting for various factors and fluctuations. In contrast, he asserted that Coinbase relies on its internal exchange and user base for pricing. This approach leads to a less diversified pricing method.

Consequently, Coinbases more contained ecosystem leads to pricing influenced by the specific trading activities and volume within its environment. Darren adds that the premium observed on Coinbase could also result from accessibility limitations for U.S. citizens, which affects supply and demand dynamics.

For instance, in 2021, Coinbase halted XRP trading in New York because of the SECs lawsuit against Ripple, which claimed that XRP was an unregistered security. However, after a court decision in July clarified that XRP is not a security, Coinbase and other U.S. exchanges opted to relist the cryptocurrency.

Despite these developments, trading in New York remained suspended until the most recent update. This was due to strict regulations which restricted residents access and affected the supply-and-demand balance.

XRP Projections

Meanwhile, XRP remains stranded at $0.51, but analysts are optimistic. According to a report from The Crypto Basic, a market analyst identified a bullish signal for XRP, indicating a potential rise that could multiply its value by 360 times, reaching $200.

In a separate analysis, different experts have set lower price objectives. EGRAG targets a $66 valuation, anticipating an impending impulsive wave, while CryptoBull foresees a dramatic surge to a bold $154.

XRP is trading at $0.5178, reflecting a 0.13% rise over the past 24 hours. Its intraday market capitalization has grown similarly, now at $28.714 billion. The 24-hour trading volume has also jumped by 65.62%, hitting $923 million.