# USDT Conversion Puts XRP’s Calculated Coinbase Gap at 0.006%

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/48398
Published: 2026-11-04T10:18:31.000Z
Updated: 2026-11-04T10:18:31.000Z
Section: Investing

> Comparing the Nov. 2 XRP closing prices without converting their quote currencies produced an apparent 0.168% Coinbase discount.

Converting Binance’s XRP (XRP) quote from Tether (USDT) into dollars puts its calculated Nov. 2 closing-price gap with Coinbase at an estimated 0.006%, showing why the quote currencies matter.

At 7 p.m. ET Nov. 2 (00:00 UTC Nov. 3), Coinbase’s XRP/USD daily candle closed at $1.2481 per XRP. Binance’s XRP/USDT candle closed at 1.2502 USDT per XRP. Comparing the two figures without a currency conversion produced an apparent Coinbase discount of 0.168%.

Coinbase’s USDT/USD candle closed at $0.99838 per USDT for the same daily interval. Using that close as a conversion reference gives about $1.24817 per XRP for the Binance quote, leaving an estimated dollar-adjusted Coinbase discount of 0.006%.

USDT is designed to track the dollar, but its exchange price can differ from $1. Treating a USDT quote as a dollar quote can therefore make an XRP price gap appear larger than the dollar-adjusted calculation shows.

The adjustment did not produce the same result at every recent close. Coinbase’s adjusted discounts were 0.066% on Oct. 30 and 0.078% on Oct. 31. The Nov. 1 comparison showed a 0.002% adjusted Coinbase premium.

Each candle’s close records the last trade in its interval. Those trades are not necessarily simultaneous offers, so the Nov. 2 calculation does not establish an executable trading opportunity or show which exchange had stronger demand for XRP.