Coinbase announces it will suspend XRP trading as price drops another 10%
Major cryptocurrency exchange Coinbase will suspend trading for XRP in response to the United States Securities and Exchange Commission taking legal action against Ripple. According to a blog post published today by Coinbase chief legal officer Paul Grewal, the exchange will fully suspend XRP trading starting on Jan. 19 at 10:00 am PST. Coinbase clarified that “trading may be halted earlier as needed” to maintain the exchange’s market health metrics. In addition, the suspension will reportedly not affect Ripple-backed Flare Network’s upcoming Spark (FLR) token airdrop.
The U.S.-based exchange is the largest so far to take a position on XRP following the Dec. 22 announcement that the SEC will charge Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen with conducting an “unregistered, ongoing digital asset securities offering.”
Earlier today, crypto exchange OKCoin announced that it will suspend XRP trading and deposits beginning on Jan. 4. Bitstamp stated it will halt XRP trading for U.S. residents, while smaller exchanges including OSL, Beaxy and CrossTower announced they will take similar actions against trading the token.
Some crypto users are anticipating other exchanges falling in line like dominoes to delist or suspend trading of XRP now that a major player like Coinbase has taken a position on the token.
Following the Coinbase announcement, the price of XRP immediately dropped more than 10%, falling from $0.28 to $0.25 at the time of publication. This is the latest in a series of bearish movements for the token, the price of which has fallen 44% since the SEC announcement.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 66.4% | 75 | $30 127.85 | -3.00% | -1.46% | $573 691 120 758 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 60.8% | 77 | $2 045.64 | -3.49% | -9.90% | $247 127 888 676 |  |
|
| 3 |  USDT |
Tether predictions | 94.8% | 1 | $0.998905 | -0.01% | -0.10% | $75 669 201 846 |  |
|
| 4 |  USDC |
USD Coin predictions | 94.8% | 1 | $1.000390 | 0.04% | 0.05% | $52 067 570 451 |  |
|
| 5 |  BNB |
Binance Coin predictions | 66.8% | 71 | $301.61 | -1.74% | 0.09% | $49 245 541 999 |  |
|
| 6 |  XRP |
XRP predictions | 68.4% | 70 | $0.430207 | -2.88% | -13.13% | $20 797 523 991 |  |
|
| 7 |  ADA |
Cardano predictions | 65.6% | 68 | $0.564719 | -5.93% | -8.41% | $19 053 066 566 |  |
|
| 8 |  SOL |
Solana predictions | 61.2% | 80 | $54.87 | -3.76% | -14.19% | $18 504 202 384 |  |
|
| 9 |  BUSD |
Binance USD predictions | 95.6% | 1 | $1.001802 | 0.01% | 0.14% | $18 030 500 141 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 64.8% | 76 | $0.089226 | -2.37% | -15.15% | $11 837 628 956 |  |
|
| 11 |  DOT |
Polkadot predictions | 63.2% | 77 | $10.85 | -5.25% | -0.79% | $10 719 658 670 |  |
|
| 12 |  AVAX |
Avalanche predictions | 64.8% | 79 | $33.45 | -4.80% | -20.93% | $9 001 419 724 |  |
|
| 13 |  WBTC |
Wrapped Bitcoin predictions | 61.6% | 75 | $30 106.86 | -3.05% | -1.48% | $8 550 465 811 |  |
|
| 14 |  TRX |
TRON predictions | 72.4% | 61 | $0.069877 | -1.90% | -8.63% | $6 831 881 782 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 64% | 78 | $0.000012 | -3.50% | -14.12% | $6 733 612 508 |  |
