Coinbase Investigates Delays in Ripple XRP Transactions
San Francisco, Wednesday, 15 January 2025.
Coinbase is addressing delays in Ripple (XRP) transactions, impacting user confidence and trading efficiency. The company aims for a swift resolution to restore platform reliability.
Investigation Timeline and Impact
Coinbase (NASDAQ:COIN) initiated its investigation into XRP transaction delays on January 14, 2025 [1][3]. The issues, which began affecting users since January 8, 2025, have raised concerns about trading efficiency and potential financial impacts [1]. These delays specifically affect the sending and receiving of Ripple (XRP) transactions on the platform, causing disruptions in normal trading activities [1][3].
Recent Platform Performance
This incident follows a series of technical challenges on the Coinbase platform. On January 10, 2025, users experienced similar issues with Stellar (XLM) transactions, though these were resolved within 90 minutes [1]. The platform also faced broader service degradation on January 9, 2025, affecting various cryptocurrencies, which was addressed within two hours [1].
Market Context
The investigation comes at a time when XRP has shown significant market activity. As of January 15, 2025, XRP is trading with considerable volume, demonstrating a 50.54% increase in trading activity over the past 24 hours [8]. The cryptocurrency has also shown strong performance, with a 379.8% increase in value over the past year [8].
Resolution Timeline
While Coinbase has committed to resolving these transaction delays swiftly [1], the company has not provided a specific timeline for resolution. The platform’s review process is expected to be completed by January 20, 2025 [3]. Users are advised to remain patient as the investigation continues, with updates expected within the next week [3].