Main cryptocurrency trade Coinbase will droop buying and selling for the XRP token in response to america Securities and Alternate Fee taking authorized motion in opposition to Ripple.
In keeping with a weblog submit launched as we speak by Coinbase Chief Authorized Officer Paul Grewal, the trade will absolutely droop XRP buying and selling beginning on Jan. 19 at 10:00 AM PST. Coinbase clarified that “buying and selling could also be halted earlier as wanted” to keep up the trade’s market well being metrics.
“The buying and selling suspension won’t have an effect on clients’ entry to XRP wallets which is able to stay accessible for deposit and withdraw performance after the buying and selling suspension,” mentioned Coinbase. “We are going to proceed to help XRP on Coinbase Custody and Coinbase Pockets.”
The U.S.-based trade is the most important to this point to take a place on XRP following the Dec. 22 announcement that the SEC would cost Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen with conducting an “unregistered, ongoing digital asset securities providing.”
Earlier as we speak, crypto trade OKCoin introduced that it will droop XRP buying and selling and deposits starting on Jan. 4. Bitstamp said it will halt XRP buying and selling for U.S. residents, whereas smaller exchanges together with OSL, Beaxy and CrossTower introduced they might take comparable actions in opposition to buying and selling the token.
Following the Coinbase announcement, the value of XRP instantly dropped greater than 10%, falling from $0.28 to $0.25 on the time of publication. That is the newest in a collection of bearish actions for the token, the value of which has fallen 44% for the reason that SEC announcement.
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