Coinbase XRP's Discount Shrinks to Near Zero on November 2
An independent comparison shows XRP's discount on Coinbase narrowed to 0.006% after converting USDT to USD.
An independent comparison shows XRP's discount on Coinbase narrowed to 0.006% after converting USDT to USD. Tether (USDT) is trading at $0.999. This is an original TLT brief based on reporting by CryptoSlate, with live market data added, as of Wed, 04 Nov 2026 00:45:03 UTC.
This development highlights the subtle pricing discrepancies across crypto exchanges and the role of stablecoins in determining asset valuations. It suggests increased price efficiency in the XRP market on Coinbase.
- XRP's Coinbase discount reduced to 0.006% on November 2.
- USDT conversion to USD reveals near-parity pricing with other exchanges.
- Market cap of USDT stands at $178.94B, slightly above circulating supply of $178.14B.
On November 2, an independent analysis showed that 
XRP's discount on Coinbase, when accounting for the conversion of USDT to USD, narrowed significantly. The discount decreased from 0.168% to 0.006%, indicating a near-parity pricing with other exchanges.
This analysis highlights the role of stablecoins, particularly USDT, in determining asset valuations across exchanges. The market cap of USDT stands at $178.94B, slightly above its circulating supply of $178.14B, according to DeFiLlama.
The overall crypto market remained relatively flat, with a total market cap of $2.66T. 
Bitcoin saw a modest 24-hour increase of 0.86%, while XRP itself experienced a 2.23% gain in the same period.
The reduction in XRP's Coinbase discount suggests improved price efficiency and potential arbitrage opportunities for traders. It also underscores the importance of stablecoin valuations in the broader crypto market dynamics.
Looking ahead, traders may watch for further convergence in XRP pricing across exchanges and the impact of stablecoin movements on asset valuations.
Since this brief published about 1 hour ago, Tether (USDT) has moved from $0.999 to $0.999 — -0.00%.
The chart plots USDT's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDT ≈ ₦1,382.65 (about $0.999), up 0.0% over 24 hours. The naira itself trades about 2.8% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 4, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Coinbase XRP's Discount Shrinks to Near Zero on November — questions & answers
What caused XRP's discount on Coinbase to decrease?
The decrease in XRP's Coinbase discount was due to the conversion of USDT to USD, which revealed a near-parity pricing with other exchanges.
How does USDT influence XRP's price?
USDT's market cap and valuation can impact XRP's price by affecting the overall liquidity and stability of the crypto market.
What is the current market cap of USDT?
USDT's market cap is $178.94B, slightly above its circulating supply of $178.14B.
How much is 1 Tether worth in naira today?
About ₦1,382.65 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $0.999. The naira price moves with both USDT's US-dollar price and the USDT/NGN rate; use our Tether in naira page for any amount.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CryptoSlate. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.