The End Of Ripple? More Exchanges Delisting XRP — Price Falls %10 More

Following the SEC’s lawsuit against Ripple, more exchanges are delisting XRP from their trading list.

XRP — the second most preferred currency by Australians after Bitcoin – has plunged another 10 % after the U.S.-based exchange, Coinbase, decided to delist XRP from its platform following the lawsuit.

The exchange announced that the customer’s XRP wallets will remain intact, without removing the institutional custody — but will suspend the trading pair on January 19, 2021.

OkCoin And BC2C Delisting XRP

Other recent exchanges that decided to remove XRP from their trading list were Chinese-based OkCoin and B2C2 USA.

OkCoin announced today the suspension of XRP trading with tighter rules. Users who borrowed XRP/USD margins are required to return the funds till Jan 3, 2021, or face automatic liquidations in case of any delay.

Another exchanges delisting XRP are:

• OSL
• CrossTower
• Beaxy
• Bitstamp
• Galaxy Digital
• Jump Trading

Grayscale XRP Trust Closed

Not only exchanges are turning away from XRP as the trust firm Grayscale closed the XRP Trust private placement.

Likewise, a user from Twitter posted a message that appears to be an employee from Grayscale, stating that the company is ending all XRP subscriptions.

Friend just sent me this, now @Grayscale shutting down subscriptions for the $XRP trust.

See a pattern here? pic.twitter.com/t1XUmBljIJ

— Don't follow Shardi B if you hate Crypto (@ShardiB2) December 28, 2020

Many people in social media argue that it may be a matter of time before other exchanges join the movement by delisting XRP from their platforms.

Now that .@coinbase has delisted $XRP you will soon see Kraken, Bittrex, Genesis, Grayscale and other members of the Crypto Rating Council delist it too. Liquidity will dry up and the remaining market makers in Asia will have to exit it too.

Quote me. pic.twitter.com/LODILmYSbj

— DaVinci (@PseudoDaVinci) December 28, 2020

It should come as no surprise that XRP fell 10% following the announcement of Coinbase, now trading at 0.25 $. The price has fallen -43 % since the SEC filed a lawsuit against two Ripple executives: Brad Garlinghouse and Chris Larsen, for making profits with XRP as an “unregistered license”.