The platform “Kraken” is joining up and announcing the date of suspending the trading of the digital currency Ripple “XRP”
The Ripple case with the US Securities and Exchange Commission (SEC) raised a lot of ink from observers and analysts of the cryptocurrency market, and also clearly affected the performance of the XRP digital currency.
San Francisco-based cryptocurrency exchange Kraken announced that it will suspend trading of the XRP digital currency for residents of the United States of America, starting January 29th.
While US users will still be able to deposit or withdraw the XRP cryptocurrency after this date, they only have two weeks to continue trading the blockaded digital currency.
The “Kraken” platform statement states the following:
We may begin this process anytime on January 29, 2021, so we strongly encourage all US customers to take their positions before that day.
As a reminder, a lawsuit was filed against the Ripple Company and against all of the chief executive, “Brad Garlinghouse” and “Chris Larsen” by the US Securities and Exchange Commission (SEC), accusing them of carrying out an unregistered sale of $ 1.3 billion.
What is the impact of the “Kraken” announcement on the performance of the Ripple digital currency?
The price of XRP has more than halved since the SEC announcement.
On December 21, the price of the digital currency XRP was estimated at $ 0.60.
The currency is currently around $ 0.27, a decrease of 54%.
"Kraken" has joined the cryptocurrency exchange platforms that have already suspended the trading of the XRP cryptocurrency. These platforms include:
Binance.US, Coinbase, and Bitstamp.
Regarding whether trading will continue and return, "Kraken" indicated in the statement:
We are monitoring the situation regarding the lawsuit filed by the US Securities and Exchange Commission (SEC), and will update and adapt to any new developments.