Breaking: Binance US to Suspend XRP Trading And Deposits From January 13

Binance US today in an official statement announced that it will suspend XRP trading and deposits on January 13, 2021 at 10am EST. However, it stated that XRP withdrawals will not be affected at this time.

Binance US to Suspend XRP Trading, Is it the end for XRP?

Further, in its statement, it stated if the users have purchased XRP with funds deposited via ACH/Debit Card, the funds will be available to withdraw after this holding period expires. The users will not be allowed to deposit XRP on its platform.

???? Binance US just announced that they will suspend XRP trading and deposits January 13thhttps://t.co/6mvKqmpddo #XRP #XRPCommunity #crypto #blockchain pic.twitter.com/FqodviE49M

— The Cryptic Poet (@1CrypticPoet) December 30, 2020

Yesterday, Coinbase also announced suspension of XRP trading and deposits from January 19th, 2020. The suspension of XRP by Binance was much awaited news.

Will Ripple Win SEC Lawsuit on February 22?

Binance US, Coinbase and Bitstamp are the key exchanges that have already announced suspension of XRP trading on their platforms. SEC today announced the date for lawsuit hearing on February 22, 2021. As per the official court document, Judge Analisa Torres ordered all the parties involved in the case to appear on February 22, 2021, through a telephonic call owing to the pandemic.

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Sunil Sharma

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on X at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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