Ripple's XRP spikes after Coinbase says it will add the cryptocurrency

Anthony Harvey/Getty Images for TechCrunchCoinbase CEO Brian Armstrong
  • The digital-currency exchange Coinbase said it will list Ripple’s XRP starting Tuesday.
  • XRP is a digital currency that supports cross-border payments.
  • Startup Ripple owns the vast majority of XRP in reserve, worth billions of dollars.
  • Watch Ripple’s XRP trade live.

Ripple’s XRP jumped 10% to $US0.33 a coin Monday after the San Francisco, California-headquartered digital-currency exchange Coinbase said it will list the cryptocurrency starting Tuesday.

XRP is a digital currency that supports international currency exchange and remittances. Startup Ripple owns the vast majority of XRP in reserve, worth billions of dollars.

“XRP trading will initially be accessible for Coinbase Pro users in the US (excluding NY), UK, supported European Union member nations, Canada, Singapore, and Australia,” Coinbase said in a press release. “Additional jurisdictions may be added at a later date.”

Investors in the digital-currency space saw prices explode higher in 2017 as cryptomania swept over the world. XRP began 2017 worth less than $US0.10 a coin before soaring more than 2,500% to a high of $US2.60. However, 2018 was a different story, with the cryptocurrency’s value plunging by more than 80% to a low of less than $US0.25 a coin.

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