XRP Price Prediction as Coinbase Wallet Removes XRP Support – What’s Going On?
The XRP price has risen by 2% in the past 24 hours, reaching $0.404066 after Coinbase Wallet announced it would be removing support for the altcoin. This price represents a 7% gain in the past week, although XRP is down by 11% in the last 30 days, as the FTX collapse continues to bear down on investor sentiment.
Coinbase Wallet's decision to end support for XRP may seem like it comes at an odd and unpromising time for the coin, given that Ripple has reached what's likely the final phase of its case with the SEC. However, some may claim that Coinbase now believes Ripple will lose, it's worth pointing out that it lost Coinbase Wallet support along with numerous other coins, all of which had seen low activity on the protocol.
XRP's chart shows an asset in a good place. Its relative strength index (purple) has risen close to 70 in the past day or so, whle its 30-day moving average (red) has re-commenced rising further beyond its 200-day average (blue).
This suggests an increase in momentum rather than a decline, which may be something some observers might expect at the moment, given that Coinbase Wallet has dropped support for XRP.
That said, as the tweet above makes clear, ethereum classic (ETC), bitcoin cash (BCH), and stellar (XLM) are also being removed along with XRP from January onwards.
All four coins currently witness "low usage" on Coinbase Wallet, which is probably not at all surprising in XRP's case, seeing as how Coinbase delisted the altcoin back in January 2021.
And while Coinbase did indeed delist XRP last year (so as not to invite any legal repercussions), this move and Coinbase Wallet's latest doesn't mean that the exchange believes Ripple is destined to lose its case against the SEC.
In fact, Coinbase submitted an
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