Summary
- Joo Ki-young, the representative of CryptoQuant, expressed expectations for the price rise of Ripple (XRP).
- During the past month, the Coinbase premium range of Ripple has changed from 3% to 13%.
- In the Upbit market, a significant price premium for Ripple has not yet appeared.
Coinbase whales are reportedly leading the rise of Ripple (XRP).
On the 2nd, Joo Ki-young, the representative of CryptoQuant, stated through X (formerly Twitter) that "Coinbase whales are leading the rise of XRP," adding that "during the last 30 days, the premium range of Ripple on Coinbase has ranged from 3% to 13%."
He emphasized that "in the Upbit market, where there are more Ripple investors than Binance, a significant price premium has not yet appeared."
On the other hand, the Coinbase premium refers to the price difference between Bitcoin traded on the U.S. Coinbase exchange and other exchanges like Binance. If this indicator is positive, it can be interpreted that the buying pressure on Coinbase is greater than on Binance.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
