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Coinbase Shares Decline After Gangbuster Session, But Financial Institutions Increase Price Target

Coinbase's shares experienced a decline on Friday, following a surge in value the day before. Despite this, financial institutions have increased their price targets for the stock. COIN was trading at $103.50 at 3:31 p.m. in New York, down 3.3% from the previous day. The company's involvement in the proposed launch of spot bitcoin exchange-traded funds has contributed to its recent success, and the decision that Ripple Lab's sales of XRP on exchanges did not violate securities laws has also had a positive impact. WedBush and Needbush have both increased their price targets for Coinbase, with the latter raising its target from $70 to $120.

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