Investing.com – Ripple (XRP) retreated from record highs on Thursday but remained well supported despite reports suggesting Coinbase quashed rumours that it is working on plan to launch support of Ripple.
"We have made no decision to add additional assets to either GDAX or Coinbase at this time,” according to a blog post on Coinbase.com
Ripple XRP rose 6.18% to $2.92 after reaching an all-time high of $3.28 earlier in the session. On Thursday, XRP made strong gains as rumours swirled that it was inching closer to a Coinbase listing.
Despite the current uncertainty surrounding XRP’s rumored-coinbase listing, investor demand for the cryptocurrency remained strong amid bullish sentiment that Ripple, the technology behind the cryptocurrency, would continue to garner support from major financial institutions.
'Great rotation' to altcoins weighs on bitcoin, bitcoin cash
On the Bitfinex exchange, bitcoin fell to $14,861.0, down $115, or 0.77%, after hitting an all-time high of $19,891 in December.
Bitcoin Cash, widely believed to be a “real” alternative to bitcoin as it boasts both faster and cheaper transactions, has failed to shake off recent negative sentiment as it lost its standing as the third largest cryptocurrency by market cap.
Bitcoin cash fell 7.46% to $2354, after surging above $4000 to a record high of $4,100 in December.
Both bitcoin and bitcoin cash have fallen victim, many believe, to the ‘great rotation’ from so-called expensive cryptocurrencies to cheaper alternatives such as Stellar, which has rallied more than 250% in just seven days.
Ethereum hits record high, Litecoin trickles lower
Litecoin, meanwhile, fell 4.90% to $234.20 Ethereum, the third largest cryptocurrency by market cap, rose 1.1% to $953.25, after rallying just shy of $1,000 on the bitfinex exchange.
The recent rally in Ethereum has seen its market cap flirt with the $100 billion landmark for the first time in its two-and-a-half year history.