This week, the cryptocurrency market saw a notable rebound, particularly with altcoins like XRP, DOGE, and XLM showing signs of recovery.

These tokens are now priced similarly on both Coinbase, the U.S.-based exchange, and Binance, the global trading platform, as per TradingView data. The recovery follows a period of price discrepancies observed in late December, when Coinbase saw significant discounts compared to Binance, signaling renewed participation from U.S. investors in these markets.

The difference in pricing, known as the Coinbase premium, has been tracked for XRP, XLM, and DOGE. It reflects the gap between dollar-denominated prices on Coinbase and Tether-denominated prices on Binance. Tether, a stablecoin pegged to the U.S. dollar, is used as the reference on Binance.

In early December, the premium surged as Bitcoin (BTC) surged to new record highs, encouraging increased risk-taking. However, as Bitcoin’s momentum slowed in the latter part of the month, amid concerns about a hawkish stance from the Federal Reserve, the Coinbase premium quickly reversed and turned into a discount.