XRP_ROAR Posted January 4, 2018 Share Posted January 4, 2018 (edited) So I currently have some XRP in kraken. Currently, they have the price at $2.74, but over on Coinmarketcap, it's at $3.25. Why or how can there be such a large discrepancy in the price? Edited January 4, 2018 by XRP_ROAR Link to comment Share on other sites More sharing options...
wegfox Posted January 4, 2018 Share Posted January 4, 2018 CoinMarketcap is not good for checking price, often the price has a big delay, being a general average of prices always has some distortion. Lycan 1 Link to comment Share on other sites More sharing options...
Guest Posted January 4, 2018 Share Posted January 4, 2018 On coinmarketcap under Ripple, click on the markets tab - this shows you all the exchanges worldwide that deal in XRP transactions. You see a massive spread between them because different exchanges / regions, place a different premium on the value of XRP. Coinmarketcap simply takes the average of all the prices, so the price you see there will often be higher than traditional Western exchanges because South Korean exchanges have a higher premium on the unit cost of XRP. Link to comment Share on other sites More sharing options...
XRP_ROAR Posted January 4, 2018 Author Share Posted January 4, 2018 Appreciate the responses guys. Had me a bit paranoid for a second. Link to comment Share on other sites More sharing options...
Guest Posted January 5, 2018 Share Posted January 5, 2018 No worries, the whole crypto space can be a bit daunting at first... but you can pretty much be guaranteed that all the questions you potentially have will pretty much be answered somewhere on this forum. Welcome aboard. Link to comment Share on other sites More sharing options...
bennyblanco9898 Posted January 5, 2018 Share Posted January 5, 2018 Was very curious about this as well.. so glad i got in to this a couple weeks back when I did! hoping for $100 by 2020 Link to comment Share on other sites More sharing options...
Morganae23 Posted January 5, 2018 Share Posted January 5, 2018 @tartankiwi is correct. I've learned so much just by reading articles/comments on here, then doing some side research. Link to comment Share on other sites More sharing options...
BDL Posted January 7, 2018 Share Posted January 7, 2018 I understand how there can be a price difference on different exchanges but I can't understand how it can be so big. On coinmarket.cap it shows its trading on BiThumb for ~$4 US, with almost 50% of the total volume traded, and many of the other exchanges (including Kraken which I use) have it trading at ~$2.70!! I have seen spreads in past weeks in the 40-60 cent range but $1.30 seems crazy. I understand there is different demand in different places but just don't see how the difference can be that big if 50% of the total trading population in the world has it trading at $4. One would think the overall "demand" from other exhanges would shrink up that price difference at any given time on different exchanges so it is much closer and different exchanges would follow each other closer. Link to comment Share on other sites More sharing options...
Seth Posted January 7, 2018 Share Posted January 7, 2018 I had the same question, generally. And started a thread on another part of XRPchat. With specific regard to Bithumb I'm pretty sure a big reason for the discrepancy is that Bithumb trades are done in South Korean won, not $US. And the price quoted in $ on Bithumb is probably the result of a crazy exchange rate between won and dollars. Granted, however, the spread in XRP price seems excessive to me even considering that. Link to comment Share on other sites More sharing options...
HardHooker Posted January 7, 2018 Share Posted January 7, 2018 So I see the various exchanges here: https://coinmarketcap.com/currencies/ripple/#markets I used Bitsane for convert my BTC to XRP and than I moved them to Toast Wallet. In Toast Wallet it shows the shares and the value US. When I eventually want to sell can I select any Exchange to move them to? Wouldn't it make sense to move to an Exchange that is selling at the highest price? Link to comment Share on other sites More sharing options...
Seth Posted January 8, 2018 Share Posted January 8, 2018 HardHooker: Not necessarily. It will depend on the transaction fees and the particular currency limitations with which you can withdraw from a particular exchange. I.e., Bithumb may have the highest quoted price for XRP but you may not be able to withdraw it in the currency you'd like. And the applicable conversion ratios for what's available may be unreasonable. Link to comment Share on other sites More sharing options...
HardHooker Posted January 8, 2018 Share Posted January 8, 2018 Thanks Seth...still new to all of this. I'm still amazed I was able to get the steps right to be where I am now I have a lot to learn but this resource is the best. Link to comment Share on other sites More sharing options...
Seth Posted January 8, 2018 Share Posted January 8, 2018 You and me both. The whole digital currency space is still very much in its infancy, relatively speaking. As a result, it's very volatile (not to overstate the obvious) with a tremendous amount of uncertainty, not just in pricing but in the applicable processes. Link to comment Share on other sites More sharing options...
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