XRP Coinbase Discount Narrows as Options Signal Potential Volatility

An apparent price discount for XRP on Coinbase nearly disappeared on November 2 after adjusting for quote currency differences, CryptoSlate reported. CryptoSlate said an independent exchange price comparison showed that converting Tether quotes from Binance into United States dollars narrowed the observed Coinbase discount from 0.168 percent to 0.006 percent. A CryptoQuant user identified as Arab Chain had reported a negative Coinbase Premium Index reading of about 0.16 percent on November 2, characterizing it as an eight-month low for the metric. [1]

The price comparison isolated the impact of the quote currency from the remaining price variance for the digital asset across exchanges, according to CryptoSlate. Separately, options market data released by cryptocurrency exchange Coinbase indicates that XRP could experience an 8.7 percent price movement by November 8, UToday Crypto News reported. UToday Crypto News said that such a move could drive the token price toward either 1.36 dollars or 1.14 dollars based on implied volatility metrics. [1][2]

The expected 8.7 percent price fluctuation for XRP ties with Solana for the highest expected move among major cryptocurrencies, UToday Crypto News reported. UToday Crypto News noted that Ethereum had an expected movement of 7.7 percent, whereas Bitcoin maintained the lowest expected price movement among the four assets at 5.8 percent. [2]

Coinbase Global, Incorporated is an American cryptocurrency exchange founded in 2012 by Brian Armstrong and Fred Ehrsam. By 2024, the platform operated in more than 100 countries and held nearly 516 billion dollars in assets under management. [8]