PrimeXBT reported the removal of XRP / USD, XRP / BTC trading pairs with an announcement earlier today. Thus, it became the last crypto exchange to remove XRP from the list.
Delisting will take effect from Wednesday, February 10, 2021, at 15:00 UTC. Prior to this, XRP pairs will be transferred to ‘reduce only’ at 15:00 on Friday, February 5, 2021.
According to the announcement, PrimeXBT decided to remove and cease trading due to “significant events surrounding Ripple” as well as “the asset being removed from our list of multiple liquidity providers”.
After the SEC’s case was first filed, several exchanges, including Coinbase and Binance.US, quickly removed the cryptocurrency to avoid being presented to them with any legal notice in light of the uncertainty surrounding XRP.
Since then, XRP trading has been limited to specific locations that continue to support the asset, but de-listing has caused a significant drop in the asset’s overall liquidity.
PrimeXBT was one of the venues with a significant amount of transaction volume for XRP. The last 24 hours alone saw $ 42,991,416.17 in transaction volume for the XRP / USD trading pair, making it the third largest trading pair after BTC / USD and ETH / USD.
However, it should be taken into account that XRP has recently increased by over 170% in 24 hours, and crypto was worth $ 0.745 and dropped to $ 0.366 at the time of writing.
Last week, such price increases somehow became a trend and this rally has seen it driven by the Reddit community r / Satoshistreetbets. In fact, many commentators are puzzled by the scale of the cryptocurrency’s rise, especially in light of recent developments.
Others, however, argued that Ripple’s official response to the SEC’s case may have played a role in the crypto asset’s recent price movements.