SUGAR Crypto Signals
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#CoinMarketCap Removes #SouthKorea Exchanges, Ripple Market Cap Drops $20 Billion

#TheRippleEffect

CoinMarketCap’s decision was followed by a dramatic reverse in Ripple’s record-breaking uptrend. The day CoinMarketCap removed the South Korean exchanges, Ripple saw an immediate loss of over $20 bln in market capitalization, and an almost 30 percent price drop Jan. 8. The altcoin was overtaken by Ethereum (ETH) as the second largest cryptocurrency by market cap.

#Ripple in particular is traded on South Korean exchanges at very high volumes, a fact which reportedly helped bring Ripple to second place on the crypto market just last week.

Prices on South Korean exchanges are also over a dollar higher than on most other exchanges globally, which is part of what prompted CoinMarketCap to exclude them.

Rumors that #Coinbase would add the altcoin, followed by confirmation on Jan. 4 that it would not, caused a peak and drop in Ripple’s price in the first few days of January. However the price drop after CoinMarketCap’s Jan. 8 decision had a more immediate and drastic effect, with an over 16 percent drop in the space of 6 minutes.

As a result of the move, #XRP is currently trailing by some $0.60 on CoinMarketCap versus similar services such as Live Coin Watch, which still includes the major Korean exchanges.

Users on #Twitter complained that CoinMarketCap’s failure to promptly alert users about their decision caused panic selling that in turn aggravated the market drop.
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‼️TRADING TIP

📍Never enter in a coin if it's increasing much in some moments
📍Wait for it to be stable. Better to miss the train than to be crashed with the train.
📍Never sell a coin when its Falling Down Heavy.
📍Never be a Panic seller.
📍Patience is all you need.