Cryptocurrency exchange Bittrex announces the suspension of trading XRP
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Answer Cryptocurrency exchange Bittrex announces the suspension of trading XRP
Cryptocurrency exchange Bittrex has announced the discontinuation of XRP, the fourth largest cryptocurrency by total market capitalization.
Founded in 2014 in Seattle, Washington by cybersecurity engineers Bill Shehara, Richie Lai and Rami Kawash, Bittrex offers XRP trading against BTC, ETH, USDT, and USD.
A previous legal issue for Bittrex occurred in New York state in April 2019 when it lost its bid for a license to sell a “digital currency.”
The suspension of Bittrex, the cryptocurrency trading platform, comes a week after the US Securities and Exchange Commission (SEC) accused Ripple of raising $1.3 billion by selling XRP as unregistered securities.
Since the lawsuit was announced on December 22nd, Ripple has been suffering, with the volume of Ripple’s market cap dropping by 66% and the coin’s price dropping to $0.20, a 13.2% drop in the last 24 hours.
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Bittrex platform, with its latest announcement, joins ten platforms and investment funds that have previously announced its delisting and suspension of Ripple trading, which are:
Coinbase, OKCoin, Beaxy, Galaxy Digital, B2C2, Bitstamp, Jump Trading, Bitwise, CrossTower, OSL
XRP is still available for trading on Binance and Kraken:
# Bittrex Client:
The XRP Dollars The markets will be cleared on Friday, January 15th at 4:00 PM PT.
details:
– Bittrex (BittrexExchange) December 29, 2020
in statement It was released late today that Bittrex will stop trading XRP from its exchange and the announcement came as follows:
Bittrex will remove XRP trading on Friday, January 15, 2021 at 4 PM.
Until further notice, clients will continue to access their XRP wallet on Bittrex after trading is removed.
Any further updates will be provided via Twitter and/or customer support.
While the Binance and Kraken platform still supports the trading of the Ripple currency normally, the American cryptocurrency exchanges may have rushed to remove the Ripple for fear of prosecution from the SEC, as most of the platforms that announced the suspension of Ripple trading are under the authority and regulation of the SEC.
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