The problem child in the crypto market: what will happen to Ripple now?
- SEC sues Ripple Labs, Inc.
- Coinbase will suspend trading on January 19th
- Price slump: Ripple fell below $ 0,20
Not good Ripple News: As it has now been announced, Coinbase will suspend trading in the cryptocurrency from January 19, 2021. After the United States Securities and Exchange Commission (SEC for short) decided to file a lawsuit against the company Ripple, it was only a matter of time before certain crypto exchanges respond. With Coinbase, one of the largest crypto traders in the United States decided against the cryptocurrency Ripple to pronounce.
XRP wallets remain accessible
The trading limit came into effect on December 28th. This then also caused the Ripple course to crash. From 0,63 US dollars (December 17, 2020) to 0,18 US dollars (December 29, 2020). And the Ripple price forecast suggests that there can be no recovery - at least in the first quarter of 2021. Investors are insecure; there will probably be shifts to other cryptocurrencies.
On too eToro the crash of Ripple can be observed. The current Ripple price is 0,23 US dollars and is thus around 94 percent below the all-time high from 2018 (3,40 US dollars).
But what impact does the suspension of trading have on Coinbase customers who have already invested their money in Ripple? "There is no impact on customers, the XRP wallets remain accessible," said Coinbase Chief Legal Officer Paul Grewal. At least that can be seen as "good Ripple news".
The Bitcoin-News.One forecast: Will it go down again on January 19th? In the past seven days, the ripple crashed over 31 percent. Another crash cannot be ruled out.