4 Crypto Platforms Drop Support For XRP, Coinbase Still Considers

4 crypto platforms drop support for Ripple’s XRP while Coinbase still considers what to do about it as we can find out in today’s Ripple news.

In light of the US Securities and Exchange Commission and the impending lawsuit against Ripple,  4 crypto platforms and many more others drop support or consider dropping support for Ripple’s XRP with there are being others that delisted it. The first two officially changed policies towards XRP are OSL, Bitstamp, and Beaxy Exchange as well as CrossTower.

BitStamp suspended trading and deposits for all US customers, Beaxy and OSL suspended trading and CrossTower said that it removed XRP from its trading platform entirely. All exchanges said that the users are still able to withdraw their XRP.
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As for Coinbase, a spokesperson of the US-based crypto exchange told Forbes that the crypto exchange is considering its options because of the Ripple legal issues.

Some high-profile crypto analysts are also wary of Ripple’s native token and warned their followers that jumping into the asset will be a risk that is unwanted especially when there are other solid projects not facing that will provide investors with more value. Scott Melker known as the Wolf of all Streets told his followers that buying XRP is a risky proposition:

“Trading XRP right now is the equivalent of buying Enron in 2001. Why even bother or take the risk? There are literally thousands of coins to trade and people are magically gravitating towards the one that is being publicly sued by the SEC.”

Top crypto analyst Michael van de Poppe warned his YouTube viewers that investing in XRP at this time could be quite hard:

 “Given that we’ve gotten this low in basically one daily candle and given that there is the lawsuit from the SEC… I would definitely not go in for such a risky approach at this point especially given that there are so many altcoins right now at a very interesting level that give way more potential than XRP.”

As recently reported, US-based crypto exchanges will now have to consider whether to delist XRP in light of the SEC lawsuit alleging that it is unregistered security issued by Ripple Labs to raise funds. the leading exchange among all these is Coinbase which in addition to the other consideration around XRP is also seeking SEC approval to take the public of the shares and allow retail investors to trade them so if the SEC prevails in the lawsuit, XRP will have to be classified as security meaning that the US law entities offering for trading have to register as securities exchanges