Ripple Effect: What's Going On With Coinbase?

Coinbase Global, Inc. COIN shares are volatile on Friday amidst increased activity in the overall crypto market.

What To Know:

On Thursday, a U.S. judge ruled that Ripple XRP/USD sales do not constitute an offer of investment contracts. Several crypto tokens surged following the court's decision, including Bitcoin BTC/USD, Ethereum ETH/USD and Ripple XRP/USD.

Coinbase relisted Ripple (XRP) on its exchange after the decision was announced, and COIN shares gained more than 35% on Thursday.

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On Friday, Wedbush analyst Moshe Katri maintained Coinbase with a rating of Outperform and raised the COIN price target from $75 to $110.

Coinbase Global will release its second quarter financial results after market close on August 3 and will hold a question and answer session to discuss the results at 5:30 p.m. ET the same day.

COIN Price Action: According to data from Benzinga Pro, Coinbase shares are trading 1.53% higher at $108.63 at the time of publication.

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COINCoinbase Global Inc

$253.34-3.82%