More and more large exchanges are distancing themselves from XRP. Ripple tries to limit the damage and wants to fight back.
The cryptocurrency exchange Bitcoin System announced on December 29th that it would take all XRP markets off the platform starting January 15, 2021. The pairs affected are BTC / XRP, ETH / XRP, USDT / XRP, and USD / XRP.
Just a few days earlier, the exchange had announced to Coinbase that it would suspend trading in XRP from January 19th
It’s not going well for XRP right now since the SEC publicly announced last week that it was going to sue Ripple .
The lawsuit said Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen raised more than $ 1.3 billion from an unregistered, ongoing sale of XRP securities.
Ripple responded , claiming the SEC’s „attack“ on Ripple was an attempt to bring down the entire US crypto industry.
The company denies that XRP is a security, as the SEC claims. It also stated that the majority of XRP customers are based outside of the US and that it would continue to sell its products in the rest of the world.
That did little to reassure investors, however, as the XRP price has fallen another 10 percent to $ 0.20 in the past 24 hours
XRP was soaring ahead of the SEC lawsuit announcement, hitting an annual high of $ 0.67 in late November.
It has fallen 70 percent since then, and analysts are wondering whether this litigation could mean the end of the XRP .