Coinbase today announced that all XRP trading activities will be suspended at Coinbase from January 19, 2020 onwards. This decision comes in the light of $1.3 Billion lawsuit filed by SEC against Ripple for dealing in security.
XRP Delisting at Exchanges Continues, Coinbase Joins the list
Since the news of lawsuit against Ripple broke out, XRP former third largest cryptocurrency by volume has suffered more than 60% correction in price owing to delisting by prominent exchanges like Bitstamp and partners like MoneyGram turning there back to Ripple.
Coinbase through their official handle announced that all XRP books have been move to limit only and it plans to suspend all trading activities on January 19, 2020.
Given the SEC’s recent action against Ripple, all XRP books have been moved to limit only and Coinbase plans to fully suspend trading in XRP on Tuesday, January 19, 2021, at 10 AM PST. Afterwards, users will continue to retain access to their XRP funds. https://t.co/izreZvgHNl
— Coinbase (@coinbase) December 28, 2020
The following cryptocurrency brokers and exchanges have already suspended XRP trading and listings. These include OSL, Bitstamp, Beaxy, Crosstower and Bitwise Assets Management.
But, Coinbase delisting has to be a major event and it surely trigger a mass dump in XRP price which is trading ~$.24 at the time of writing. With Coinbase covered all eyes are now on Binance and we may hear from them soon.