The digital currency XRP drops to a new record not set since July 2020
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Answer The digital currency XRP drops to a new record not set since July 2020
The price of the digital currency XRP fell below $0.2 for the first time since July 2020, hours after the cryptocurrency exchange Coinbase announced that it would suspend trading the currency next month.
The price of XRP, which is currently valued at $0.198 according to CoinMarketCap, is down 33% over the past 24 hours.
The XRP price collapse follows Coinbase’s announcement last night that it will only allow traders to place limited orders to trade XRP, and that it will suspend trading entirely on January 19.
Due to the recent action by the SEC against Ripple, all XRP books have been moved to the limit only and Coinbase plans to completely suspend trading in XRP on Tuesday, January 19, 2021, at 10 AM PT. After that, users will continue to retain access to their XRP funds.
Read:Bitcoin and altcoins rise in price as inflation drops in the United States
– Coinbase (coinbase) December 28, 2020
will be stuck “Coinbase” trading until the end of the lawsuit filed by the US Securities and Exchange Commission last week against Ripple and the founders of the company.
The lawsuit, brought by the Securities and Exchange Commission (SEC), alleges that the founders of the project raised $1.3 billion from the sale of unregistered securities.
While Ripple denied the accusations, Brad Garlinghouse responded that the SEC with its latest accusation stands against the crypto industry and American innovation.
The “Coinbase” platform was preceded by many other trading platforms that stopped trading the Ripple currency, such as:
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OKCoin, Crypto.com, Beaxy and Bitwise
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Coinbase announces suspension of XRP trading starting next month
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