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Bitstamp to halt Ripple’s XRP Trading and Deposits from Jan 2021



Bitstamp to halt Ripple's XRP Trading and Deposits from Jan 2021
  • Bitstamp cryptocurrency exchange to halt trading and deposits of XRP from 8th January 2021.
  • It will halt trading and deposits for U.S. customers only. Other countries customers will remain unaffected.
  • Currently, Ripple’s XRP is the 4th largest cryptocurrency with a market cap of $12,964,795,718.

After the action filed against Ripple Labs Inc. by The Securities and Exchange Commission (SEC), Bitstamp is going to halt trading and deposits of XRP from next year. According to the official announcement, Bitstamp will halt the trading and deposits of XRP for its U.S. customers from January 8th 2021 at 09:00 PM UTC.

However, all the customers of other countries will trade and deposit XRP as usual. There will be no restrictions on them.

Soon after Ripple announced that it is facing a filing from the U.S. SEC regarding the illegal securities sale, the price of XRP lunges almost 60% within days. Many crypto exchanges like OSL, CrossTower, and Beaxy all stopped XRP trading for its U.S. customers.

Bitwise, the popular crypto hedge fund removed XRP from its portfolio citing the SEC lawsuit as the reason.

At press time Ripple’s XRP is trading at $0.286667 USD with a price change of -3.42% from the last 24h. Currently, it’s the 4th largest cryptocurrency by market cap as per CoinMarketCap.

The market cap of XRP is $12,995,246,968 USD while the 24h trading volume is $8,959,629,482 USD. In the last 7 days, the XRP price plunges almost 48.8% however the price is up by 50.8% from last 1 year.

XRP price spikes after the SPARK airdrop announcement and it goes up to $0.768019 USD. But soon after the announcement of SEC lawsuit against Ripple Labs Inc., the price plunges heavily.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.