The popular cryptocurrency exchange (Coinbase) is planning to suspend trading of the Ripple (XRP) cryptocurrency token next January 19, but added that it may be suspended on January 19. Early as needed.
According to the Coin Telegraph, Coinbase said it will suspend trading of the XRP token in response to the US Securities and Exchange Commission taking legal action against Ripple.
According to a blog post today by Paul Grewall, Coinbase's chief legal officer, the exchange will completely suspend XRP trading starting January 19, 2021 at 10 AM local time,
Pacific Ocean.
Coinbase has made it clear that trading may be stopped early as needed to maintain market health metrics on the exchange.
where she said: The trading suspension will not affect clients' access to XRP wallets which will remain available for the deposit and withdrawal function after the trading suspension. We will continue to support XRP on Coinbase XDay and Coinbase Wallet.
The US-based exchange is the largest to date to take a position in XRP after the December 22 announcement that the SEC had indicted Ripple and the President Executive Brad Garlinghouse and co-founder Chris Larsen to conduct an unrecorded and ongoing exposure of the digital assets.
earlier today, the cryptocurrency exchange (OKCoin) announced that it will suspend XRP trading and token deposits starting January 4th. Bitstamp has also stated that it will stop trading XRP to US residents, while smaller exchanges including OSL, Pixi and CrossTower have announced that they will take similar measures against token trading.
After the Coinbase announcement, the price of XRP immediately fell by more than 10%, dropping from $ 0.28 to $ 0.25 at the time of writing. This is the latest in a series of downward movements to the token whose price has fallen by 44% since the announcement by the SEC.
