The main exchanges struggle to disassociate themselves from the XRP while Ripple tries to regain control of the narrative.
Bittrex joins Coinbase in removing XRP after SECNOTÍCIAS process
The Bittrex Cryptomime Exchange announced on 29 December that it will remove all XRP markets as of 15 January 2021. The affected trading pairs are BTC /XRP, ETH /XRP, USDT /XRP and USD/XRP.
The announcement came just days after the Coinbase exchange said it Crypto Genius scam would suspend trading XRP from 19 January.
XRP’s fortunes have declined significantly since the US Securities and Exchange Commission released a case against XRP’s issuer, Ripple, last week.
The case alleges that Ripple, along with CEO Brad Garlinghouse and co-founder Chris Larsen, raised more than $1.3 billion through what it claims is an unregistered and ongoing sale of XRP securities.
Ripple reacted yesterday, claiming that the SEC’s „attack“ on Ripple is an attempt to bring down the entire US cryptomime industry.
While he denies that XRP is in fact a security as the SEC claims, he also noted that the majority of XRP’s customers reside outside the US and would continue to operate and support its products in the rest of the world.
However, this seems to have done little to reassure investors, as the price of XRP has dropped another 10% in the last 24 hours to $0.20.
The XRP was up before the announcement of the SEC process, reaching an annual high of $0.67 at the end of November.
With 70% of that figure eliminated, analysts are wondering if this case could be the final death sentence for XRP.