Coinbase suspends XRP trading, following SEC’s recent action. XRP is already in continuous free fall as the price is dropping since the news breakout. XRP is taking a drop as the dump is slowly picking up. Many Exchanges, not just Coinbase have announced either halting or suspending trade. Some of the ones are from Asia, Europe, and the US itself, OKCoin, Bitstamp, OSL, Beaxy, and CrossTower.
By Paul Grewal, Chief Legal Officer
In light of the SEC’s lawsuit against Ripple Labs, Inc, we have made the decision to suspend the XRP trading pairs on our platform. Trading will move into limit only starting December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 a.m. Pacific Standard Time*. We will provide additional updates, if any, through the Coinbase Support Twitter account, including if there are any changes to timing.
You can read the details here – Coinbase Blog.
At the time of writing XRP is trading at $0.198566 and ₹16.0400 in India. The drop is 60%+ in the last 7-14 Days.
Just a few days ago, Bitcoin crossed and is now hovering around $27,000. Bitcoin market cap surpasses Visa, Bull run continues trading over $27,000. Many exchanges are following the big names and may halt or suspend and it seem a little difficult for Ripple Inc.