As Ripple’s XRP currently the fourth biggest crypto coin in the market dips down to the price level with which it began the year 2020, Yet, another crypto exchange named OKCoin, has suspended its trading.
Launched in 2013 based in San Francisco with 100K Plus active Investors and traders, OKCoin is the seventh one to the list of six crypto exchanges that have either suspended XRP trading or have completely delisted XRP from their platform. Among them is Crosstower, OSL, Beaxy, Bitstamp, B2C2 and Coinbase who announced suspension of XRP trading for a month from 19th of January on Monday.
As per the blog post published by OKCoin they are suspending trading and deposits of XRP on OKCoin on January 4, 2021, they stated:
“As the lawsuit proceedings take place, we have determined it is the best course of action to suspend XRP trading and deposits on OKCoin effective January 4, 2021”.
They highlighted that the cause of suspension is SEC’s lawsuit against Ripple as they said:
“We have been closely monitoring the news surrounding the December 22nd SEC lawsuit against Ripple, the company behind XRP, and two of its key executives”.
The XRP’s spot trading, margin trading, and deposits will be suspended at 7:00 PM PST on Jan 4, 2021, till further notice. Further, they also notified the users that they must return the borrowings they did through XRP/USD margin before 7:00 PM. PST on 3rd January, otherwise the system will liquidate the trade and halt the loan contract.
They have been supporting XRP/USD until now and experienced a 24-hour trading volume of roughly $100,000 which is less than 1% of its volume.
Further, Okcoin told that they will be proactively informing their customers when they have information that can change their position, stated:
“It is likely that this situation will take time to reach a resolution”.
$33M Injected Into XRP Products Within One Week Boosting AUM Of the Sector Up
How Is the XRP Lawsuit Going And How Investors Make More Money on the Recent Fluctuation of XRP Prices?
XRP Holders are Seeking intervention in the SEC’s Lawsuit Against Ripple
New Report Says Ripple Is A Potential Competitor To Indian Traditional Banking System
A Major US News Magazine is Now Accepting Crypto for Subscriptions
Recent Press Release
The Best NFT & DeFi Project Token Sale, TimeCoin(TMCN)
The best opportunity to invest in TimeCoin(TMCN) to realize both capital and income gain. The Special Token Sale of TimeCoin...
Place 1xBit bet BTC and Win
cryptocurrency is very much valued in the modern world, because it allows fast and secure transactions in different parts of...
Hips Payment Group Launches Merchant Token (MTO), a Cryptocurrency That Will Bring Consumer Protection to Blockchain Payments
Solution supports decentralized finance (DeFi) trend with consumer protection via smart contracts. DUBLIN, Ireland (April 1, 2021) – HIPS Payment...
Best 5 Crypto Social Trading Platforms
Over the past few years, technology has brought about drastic changes in how people approach the subject of investment. As...
TimeCoin (TMCN) Special Token Sale is Live Join Now!
The Special Token Sale of TimeCoin (TMCN) was launched on February 15th, 2021, with a 93% discount on the token’s...