FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
99,396,765Confirmed
2,131,897Deaths
71,466,891Recovered
Fetching Location Data…
Advertisement
Advertisement
Bob Mason
Shiny Ripple crypto-currency background

Ripple’s XRP is facing an uphill battle to begin any major recovery near-term.

News hit the wires this week of exchanges halting the trading and deposit taking of Ripple’s XRP.

Back in 2017 and 2018, we saw cryptos buoyed by news of their inclusion on major crypto exchanges.

The reverse can be expected should trading and the exchanging of cryptos be halted on exchanges.

B2C2 halted the trading of Ripple’s XRP for its U.S customers, with Bitstamp announcing that it would remove the option for XRP trading and deposits for U.S customers on 8th January 2021.

The moves by the two exchanges come in response to the U.S SEC lawsuit against Ripple’s Lab. The SEC claims that Ripple’s Lab raised more than $1.3bn through an unregistered digital security.

Other platforms that have reportedly dropped Ripple’s XRP include OSL, Crosstower, and Beaxy.

The removal of XRP from exchanges ultimately leads to reduced liquidity ahead of any resolution to the lawsuit, which has sunk Ripple’s XRP back to sub-$0.30 levels.

For Ripple’s XRP and the broader market, the SEC move is a reminder of market sensitivity to regulatory risk.

At the time of writing, Ripple’s XRP was down by 0.13% to $0.29396. While up from a December low of $0.2000, Ripple’s XRP was is down by 627% from November’s high of $0.78716.

Advertisement
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US