Cryptocurrency companies continue delisting Ripple

3:43 PM December 30, 2020

  • Bittrex became the latest exchange to cut ties with XRP
  • Ripple is testing major support at $0.20

The cryptocurrency exchanges and other companies continue delisting or suspending XRP trading due to the legal complications created around the digital currency after the US financial regulator’s lawsuit against Ripple. Initially only small exchanges decided to end their relationship with the XRP token, however recently they were joined by major companies like Coinbase, which is also planning for an initial public offering (IPO) in the US. Digital payment platform Wirex which also provides cryptocurrency debit and credit cards confirmed  that it would exclude XRP from the US launch. Bitcoin Swiss informed its clients that XRP trading will be temporarily suspended. One of the most prominent companies that joined this group is Bittrex which is known for listing almost all digital currencies. “Bittrex will remove XRP markets on Friday, January 15th, 2021, at 4 PM (PST),” the exchange noted. “Until further notice, customers will continue to have access to their XRP wallet on Bittrex after the markets are removed.” Other prominent exchanges like Binance and Huobi are still listing the digital currency, however it cannot be ruled out that both companies will also follow in the footsteps of Bittrex, which could put further pressure on Ripple.

Ripple’s marketcap has dropped by 66% since the SEC announced the charges December 22. XRP is hovering around $0.20 after a massive sell-off to $0.17 on Tuesday. The token needs to break above  $0.30 to mitigate the current bearish pressure. Source: xStation5

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