Coinbase to Suspend XRP Trading Following SEC Suit Against Ripple
Coinbase said it will suspend trading of XRP, the cryptocurrency at the heart of an SEC lawsuit against Ripple Labs.
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The announcement came hours after Coinbase and OKCoin took similar actions.
Coinbase plans to suspend trading for the token on Jan. 19 but added it "may be halted earlier as needed." Major cryptocurrency exchange Coinbase will suspend trading for XRP in response to the United States Securities and Exchange Commission taking legal action against Ripple.According to a blog post published today by Coinbase chief legal officer Paul Grewal, the exchange will fully suspend XRP trading starting on Jan. 19 at 10:00 am PST. Coinbase clarified that “trading may be halted earlier as needed” to maintain the exchange’s market health metrics. In addition, the suspension will....
XRP price hit new monthly lows after Coinbase revealed it will delist the token in January. XRP price dropped by 30% on Dec. 29 following Coinbase’s decision to suspend trading. The market sentiment around XRP has become overwhelmingly negative due to the fear of more exchange delistings.In the near term, XRP faces three key historical support levels at $0.224, $0.1743 and $0.1471. Where will the XRP price go next?The ongoing price trend of XRP is not cyclical nor reliant on technical analysis. It is due to investors selling XRP following the suspension of trading across major....
Two major cryptocurrency exchanges joined the XRP trading suspension campaign in the wake of the U.S. Securities and Exchange Commission (SEC) lawsuit filed against Ripple Labs on December 22, 2020. Two Major Crypto Exchanges to Suspend XRP Trading in January 2021 The last week of 2020 started with the announcement of Okcoin, one of the oldest crypto exchanges in the industry. They’ve decided to halt XRP trading and deposits on the platform effective on January 4, 2021. According to the firm, users who have borrowed from the XRP/USD margin pair, including borrowing XRP and USD, are....
Coinbase plans to suspend all margin trading contracts effective tomorrow, and will end the service entirely by next month.