U.S. Bittrex Exchange Crypto excluded four big XRP currency pairs

  • Bittrex has abolished the trade of XRP in their platform
  • On Bittrex, only one XRP pair EUR / XRP is not abolished for trading
  • Due to the U.S. SEC lawsuit, XRP trading is stopped in some exchanges

The United States crypto exchange Bittrex informed that they will be terminating some set of cryptocurrency of XRP. Four out of five sets of XRP cryptocurrency will be derogated from January 16. As per the Japan standard time zone at 9:00 AM on January 16, the set of XRP will be derogated from Bittrex. The set of XRP derogated by Bittrex is BTC / XRP, ETH / XRP, USDT / XRP, USD / XRP; Bittrex will delist these four sets of XRP cryptocurrency on January 16. Only XRP pairs of EUR / XRP will be available for trading on Bittrex; they have not delisted all the cryptocurrency trading pairs from their platform. The customer can still use the XRP wallet even after they have derogated the XRP cryptocurrency pair. 

U.S. SEC lawsuit on XRP trading

On December 22, the United States security exchange and commission stated legal action on XRP. The Ripple violated sections 5(a) and 5(c) of the 1993 Act, which means that the XRP did not register as security. In recent years, the Ripple has risen to $1.38 billion by selling XRP without offering economic data. They said that Ripple uses this money to fund the sale without exposing it. The SEC saw it as irregular to finance a subsidiary without consulting the U.S. SEC. The XRP is managed by an individual, a precious leap by someone. Several banks are using this cryptocurrency, and XRP has its own business, which is rising currency development to a higher degree.

XRP as a medium of exchange

Some crypto agencies take XRP as a medium of exchange or as a currency. Ripple is doing everything to raise the price of the XRP, and they’re happy to sell it. However, it takes time to sell the XRP they have. In 2017 and 2018, Ripple paid at least ten crypto trading sites to list and share XRP. XRP is making efforts to increase the price of XRP cryptocurrency. In 2017 and 2018, Ripple paid at least ten crypto trading sites to list and share XRP. Coinbase also postponed XRP trading on their site, which is a major cryptocurrency exchange. All the central bodies are against cryptocurrency, and all the impact of liquidity is on market makers. In Japan also many cryptocurrency exchanges have abolished the trade of XRP in their platform. 

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Source: https://www.thecoinrepublic.com/2020/12/30/u-s-bittrex-exchange-crypto-excluded-four-big-xrp-currency-pairs/