PrimeXBT announced the removal of XRP / USD, XRP / BTC trading pairs, in a statement earlier today. Ultimately, PrimeXBT was the last crypto exchange to remove XRP from its trading list.
Delisting will take effect from Wednesday, February 10, 2021, at 15:00 UTC. Prior to this, users will not open a transaction from 15:00 on Friday, February 5, 2021.
According to the announcement, PrimeXBT decided to remove the asset from trading due to “major events surrounding Ripple” as well as “deletion of the asset from multiple liquidity providers list”.
After the SEC’s case was first filed, several exchanges, including Coinbase and Binance, quickly removed the cryptocurrency to avoid facing any legal notice in light of the uncertainty surrounding XRP. Since then, XRP trading has been limited to certain exchanges that continue to support the asset, but de-listing has caused a significant drop in the asset’s overall liquidity.
In addition, PrimeXBT was one of the venues with significant transaction volume for XRP. In the last 24 hours alone, it reached $ 42,991,416.17 in trading volume for the XRP / USD pair, making it the third largest trading pair after BTC / USD and ETH / USD.
However, it is worth noting that XRP has recently increased by over 170% within 24 hours, reaching $ 0.745 and then dropping to $ 0.366.
Over the past week, such price increases have become somehow trending, and this rally has been driven by the Reddit community Satoshistreetbets. However, according to another argument, it is thought that Ripple’s official response to the SEC’s case may have played a role in the recent price movements of the crypto asset.