Coinbase announces it will suspend XRP trading as price drops another 10%
29 Dec 2020 #XRP
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 | Volume 24h | |
| 1 |  BTC |
Bitcoin predictions | 86% | 27 | $42 435.30 | -3.82% | -10.67% | $798 843 453 346 | $41 875 933 869 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74.8% | 50 | $2 898.43 | -7.49% | -16.63% | $341 018 107 532 | $25 119 846 328 | |
| 3 |  ADA |
Cardano predictions | 64% | 78 | $2.23 | -0.57% | -6.34% | $71 411 624 055 | $5 734 484 720 | |
| 4 |  USDT |
Tether predictions | 96% | 1 | $1.001440 | 0.09% | 0.11% | $68 691 485 942 | $92 416 325 974 | |
| 5 |  BNB |
Binance Coin predictions | 60.8% | 78 | $352.49 | -7.00% | -14.45% | $59 266 206 180 | $2 064 251 017 | |
| 6 |  XRP |
XRP predictions | 75.2% | 48 | $0.932568 | -6.42% | -12.98% | $43 567 385 538 | $4 641 985 825 | |
| 7 |  SOL |
Solana predictions | 63.2% | 83 | $139.49 | -5.82% | -1.32% | $41 467 489 552 | $4 041 527 553 | |
| 8 |  USDC |
USD Coin predictions | 91.6% | 1 | $1.000761 | 0.07% | 0.05% | $30 432 510 822 | $3 991 490 878 | |
| 9 |  DOT |
Polkadot predictions | 62.8% | 74 | $30.77 | -2.94% | -9.08% | $30 391 187 124 | $3 785 910 016 | |
| 10 |  DOGE |
Dogecoin predictions | 65.2% | 78 | $0.208918 | -6.33% | -14.44% | $27 455 953 723 | $2 219 973 271 | |
| 11 |  AVAX |
Avalanche predictions | 63.2% | 82 | $73.45 | -4.25% | 12.05% | $16 179 548 858 | $2 391 193 014 | |
| 12 |  LUNA |
Terra predictions | 68.8% | 61 | $34.85 | -2.03% | -0.58% | $13 942 018 660 | $2 307 928 114 | |
| 13 |  BUSD |
Binance USD predictions | 95.6% | 1 | $1.000668 | 0.05% | 0.05% | $13 477 216 401 | $6 991 450 944 | |
| 14 |  UNI |
UniSwap predictions | 65.2% | 74 | $19.64 | -8.12% | -20.80% | $12 010 497 802 | $461 226 982 | |
| 15 |  LINK |
Chainlink predictions | 68% | 64 | $22.80 | -7.36% | -19.93% | $10 361 191 269 | $1 641 630 892 |
