Blockchain.com Now Also Stopping XRP Trading


Blockchain.com, the cryptocurrency exchange, will ban XRP trading on its platform, according to a statement from the site.

January 14th will mark the last day of XRP trading before the freeze. The statement clarifies that Blockchain.com traders will retain access to the XRP they already have, albeit in a limited capacity — they will be able to send it, but will not be able to receive new XRP.

The note makes it clear that the move was a direct response to a recent SEC lawsuit against Ripple, the company behind XRP, alleging that the tokens were essentially unregistered securities, and the previous sale was illegal; regulators are suing Ripple for $1.3 billion which the company says was raised in an unlisted ICO.

The complaint also alleges that Ripple’s current chief executive and former chief executive are planning to sell XRP to companies they know have little “use” for the token.

Blockchain.com is the exchange that recently announced a freeze on XRP trading following the SEC filing. Exchanges like Coinbase, eToro, Binance.US, and Bittrex have made similar announcements, as maintaining a relationship with Ripple becomes a riskier affair.

However, some exchanges still haven’t given up on XRP. Uphold and Revolut, which have a larger presence in the UK, took a “wait and see” approach to the SEC lawsuit. Uphold, in particular, has been confident in supporting XRP.

The price of XRP has dropped significantly since December, when news of the charges first surfaced. It was the third largest cryptocurrency by market cap at the time, and has since dropped to fifth.

The price of one XRP is now around 22 cents.

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