- Following the SEC lawsuit, the number of cryptocurrency exchanges removing Ripple’s local digital asset (XRP) from their lists is increasing. Binance US has been added to the caravan.
Following the SEC lawsuit, the number of cryptocurrency exchanges removing Ripple’s local digital asset (XRP) from their lists is increasing. Binance US has been added to the caravan.
XRP price grapples with 20 cents as Ripple tackles SEC case
The US leg of the leading cryptocurrency exchange Binance has joined the list of trading platforms that have removed the XRP token from its platform. At the same time, the asset continues its price decline as it struggles with the $ 0.20 level.
A few weeks ago, we reported that the US Securities and Exchange Commission brought charges against Ripple for allegedly making a $ 1.3 billion bid in unregistered securities.
Binance US delist announces
Although the payment processor repeatedly claimed the claims were false, many crypto exchanges removed the local digital asset XRP from their lists.
After the first wave, Coinbase, the largest US-based platform, also announced its XRP delist. Earlier today, Binance US announced a similar decision.
Binance’s US branch will remove XRP on January 13, 2021 at 03:00 CET. The exchange will also suspend trading and investments. However, XRP withdrawals will not be affected at this time. The statement stated that a sticker / MEMO will be required to complete the withdrawal.
Spark airdrop will not be affected
Despite removing it from the list, Binance said eligible users could continue to receive Spark (FLR) airdrop tokens next year. The company will provide more details on how the distribution will take place.
The SEC case and the subsequent removal of XRP from exchanges caused serious damage to the token. Ripple’s cryptocurrency lost about 70% of its value in two weeks.
Before the Binance US announcement, XRP jumped to $ 0.24, but news from the leading exchange dropped the token to $ 0.20.