Coinbase Investigates Ripple (XRP) Transaction Delays
San Francisco, Wednesday, 15 January 2025.
Coinbase is addressing delays in XRP transactions, affecting trading activities. The company aims to resolve issues quickly to maintain platform trust.
Technical Issues Impact Trading
Coinbase (NASDAQ: COIN) announced on January 14, 2025, that it is investigating significant delays in Ripple (XRP) transactions on its platform [1][5]. The investigation comes amid growing user concerns about transaction processing times, with the technical issues first reported on January 13, 2025 [5]. This development follows recent platform stability challenges, including latency issues across various Coinbase services on January 9, 2025, and delayed transactions for Stellar (XLM) on January 10, 2025 [1].
Market Impact and Trading Conditions
Despite the technical challenges, XRP has shown strong market performance. The cryptocurrency has experienced significant growth, with its exchange rate increasing by 19.29% in the past week [2]. As of January 15, 2025, XRP maintains substantial market presence with a market capitalization of £129.73 billion and a 24-hour trading volume of £11.67 billion [2][3]. The current situation occurs during a period of increased trading activity, with XRP showing a 6.61% price increase in the last 24 hours [2].
Broader Regulatory Context
The transaction delays investigation comes at a time when Coinbase faces increased regulatory scrutiny. The exchange recently received a subpoena from the Commodity Futures Trading Commission (CFTC) on January 10, 2025, regarding customer data related to prediction platform Polymarket [1][8]. Additionally, Coinbase achieved a partial victory against the SEC on January 13, 2025, with a court ruling the SEC’s stance as ‘arbitrary’ [8].
Resolution Timeline
While Coinbase has acknowledged the XRP transaction delays [1], the company has not provided a specific timeline for resolution [5]. The exchange’s technical team continues to investigate the root cause of the delays [1]. Users are advised to monitor Coinbase’s official communications channels for updates on the situation [GPT].