Crypto.com, a cryptocurrency app and exchange, today announced that XRP trading in the US on the crypto.com app will be stopped starting 19 January 2021. Crypto.com joined Coinbase and other cryptocurrency exchanges in delisting XRP amid growing concerns regards its status as a crypto asset after the SEC filed a lawsuit against Ripple. The XRP price fell more than 20% within the last 24 hours to $0.22.
According to an official statement released by crypto.com, the US-based customers will not be able to make XRP deposits from 19 January. The withdrawals will not be affected by the recent decision. The exchange also mentioned the effect of delisting crypto.com earn.
“XRP will be removed from the Crypto.com App in America at 10 a.m. UTC on January 19, 2021. Customers who are located in the US will not be able deposit XRP to the Crypto.com App starting January 19, 2019, 10 AM UTC. The Crypto.com App won’t affect the ability to withdraw cryptocurrency. Clients with XRP Earn deposits from the USA will see their XRP unlocked, moved to their Crypto Wallet at 10 AM UTC on December 29, 2020; interest will still be paid until that date,” Crypto.com said in a blog post.
The XRP price
Since last week, the price of the fourth-largest cryptocurrency in the world has lost over 60%. Retail investors panicked after the latest SEC decision. This caused a huge crash in XRP’s price. The price of XRP is currently hovering at $0.22 as of writing. This is down from $0.30 on December 28th. CEO of Ripple, Brad Garlinghouse expressed his views after the recent action by the SEC and mentioned that the company will fight the case.
“The world has so far heard the SEC’s version. “The legal process will begin from here, and the world’s facts will be much stronger and more complete soon,” Garlinghouse stated in a tweet.