Blockchain.com, one of the early crypto wallets and now a cryptocurrency exchange, has become the latest to suspend trading with XRP, citing the US financial market regulator’s allegations and the lawsuit against Ripple.
Trading with XRP tokens on the exchange will be suspended next week from January 14. Given the uncertainty of the case against Ripple, Blockchain.com did not provide any tentative date for the resume of the services, similar to other exchanges.
However, XRP holders will have some limited services on the cryptocurrency exchange as the official announcement detailed that Blockchain.com clients with XRP balances can send the token but cannot receive it.
“Providing and revoking support for listed assets is an ongoing process,” the announcement stated. “At Blockchain.com, we will continue to monitor developments as they unfold — everything from network security to regulatory compliance and more — as we decide which assets to list and maintain on our Exchange and Wallet.”
Exchanges Saving Their Business
More than a dozen known exchanges and other crypto-related companies have dropped their services with XRP after the Securities and Exchange Commission’s action against fearing retaliation from the regulator.
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Coinbase, Bittrex, Bitstamp and eToro are only a few to suspend XRP trading. While Binance continued to offer XRP trading, its US subsidiary, Binance.US will delist the troubled digital currency next week.
All these have negatively impacted the market price of XRP. When Bitcoin and other major cryptocurrencies are rallying, XRP is struggling and trading at around $0.22 as of press time.
Interestingly, a few exchanges like Uphold and Revolut have decided to continue offering XRP. Uphold was even vocal about its support for Ripple and announced that it will not take any action until the court decides the fate of the token.
While the California-based payments company is preparing to meet the SEC next month for a pretrial conference, the company is now facing another lawsuit, this time from one of its investors, Tetragon Financial Group.