You are viewing a single comment's thread from:
RE: RIPPLE (XRP) Is Becoming a PROFIT TSUNAMI!! Target $4.11 (200% Profit Potential)
Hello gentlemen!
You both seem knowledgeable on this subject so I thought I should repeat the question I asked above,
I bought some XRP and was thinking to sell but there is a problem, I am on Binance and since a couple of days now, it's showing a different price:
Can someone guide me on why does exchanges and coin market cap show different prices for XRP?
This is Binance showing $2.62
This is coin checkup and coin market cap showing $3.08:
Sometimes, the difference increases to almost a dollar.. And this is sort of very fishy to me atleast..
Different exchanges show different prices because those are the actual prices the stuff is trading for on those exchanges at any given moment. When you see a news story that says "this cryptocurrency hit this price today," that's the high price it hit on the exchange the person reporting it was watching.
Oh, so there is nothing worry, right?
I am going to cash out as soon as it hits $3.5 again on Binance.. it was booming on Friday and I should have sold it at $3.70, will learn from this now and not get greedy next time.. XD
Correct -- there's nothing to worry about. The price of a crypto may move at one exchange before another, although they tend to converge (if it goes up from $3 to $100 on one exchange, it's unlikely to drop to $1 on another -- the traders are out there watching and so it tends to move in the same direction and at roughly the same speed everywhere).