29 December 2020 15:00, UTC

Anna Martynova

Major crypto exchange Coinbase will suspend XRP token trading in response to a US Securities and Exchange Commission (SEC) lawsuit against Ripple.

According to a blog post published by Coinbase chief legal officer Paul GREWAL, the exchange will suspend XRP trading on January 19. Coinbase clarified that “trading may be halted earlier as needed” to keep the exchange performing well. According to the exchange’s chief legal officer, the suspension of trading will not affect clients’ access to XRP wallets, which will remain available for deposits and withdrawals.

Since the announcement by Coinbase, XRP has dropped more than 10% from $0.28 to $0.25. Since the announcement of the SEC’s lawsuit against Ripple, the price has dropped 44%.

Image: Medium

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