XRP price drops 37% as Coinbase announces it will suspend trading on January 19
BTC $26,370 (-1.4%) • ETH $714 (-2.2%) • XRP $0.18 (-37.2%)
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On Monday, Dec. 28, Coinbase's Chief Legal Officer, Paul Grewel, announced via a Medium post that Coinbase will suspend XRP trading on January 19, 2021, pending the SEC lawsuit against Ripple Labs.
In the post, Grewel noted:
"The trading suspension will not affect customers’ access to XRP wallets which will remain available for deposit and withdraw functionality after the trading suspension. Further, customers will remain eligible for the previously announced Spark airdrop (subject to approval in certain jurisdictions), and we will continue to support XRP on Coinbase Custody and Coinbase Wallet."
In addition, the post stated that "trading may be halted earlier as needed to maintain our market health metrics," making it entirely possible that trading could even be halted prior to January 19.
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