XRP has continued to crash in the face of news that it will be listed from a new round of leading crypto asset exchanges.
XRP Loses Support
Coinbase Chief Legal Officer Paul Grewal says that the exchange will be delisting XRP on January 19th:
“In light of the SEC’s lawsuit against Ripple Labs, Inc, we have made the decision to suspend the XRP trading pairs on our platform. Trading will move into limit only starting December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 a.m. Pacific Standard Time*. We will provide additional updates, if any, through the Coinbase Support Twitter account, including if there are any changes to timing.”
The exchange says that the suspension of trading in the Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin
Dragging Down the Rest of the Market
While the thesis of many was that XRP’s drop would cause a rally in other cryptocurrencies, this has not been the case.
During the initial drop last week, XRP’s crash dragged Ethereum from the $ 650 region to $ 570. Bitcoin also fell strongly as a result of the drop in the 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
Featured Image from Shutterstock Price tags: xrpusd, xrpbtc, xrp Charts from TradingView.com XRP Loses Even More Exchange Support as Uncertainty Continues