Coinbase XRP looked cheap on Nov. 2 despite identical market value

XRP’s apparent Coinbase discount at the Nov. 2 close shrinks from about 0.168% to 0.006% when Binance’s Tether (USDT) quote is converted into dollars. The independent exchange-price comparison separates the quote-currency effect from the remaining difference in XRP prices. The user Arab Chain on CryptoQuant reported an approximately -0.16% XRP Coinbase Premium Index reading on Nov. 2, describing it as an eight-month low and interpreting it as relatively weaker Coinbase demand. The post also cautioned that the index alone was not definitive evidence of continued downside pressure. The completed Nov. 2 candles put Coinbase XRP/USD at $1.2481 , Binance XRP/USDT at 1.2502 USDT and Coinbase USDT/USD at $0.99838 . The adjustment multiplies Binance’s XRP price by USDT’s dollar price, then compares Coinbase against that converted figure.

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