Three smaller crypto exchanges, OSL, Beaxy and CrossTower, have either temporarily suspended XRP trading or removed it entirely. In a further blow, Bitwise Asset Management has liquidated its XRP position, it said in a statement.Meanwhile, a spokesperson for U.S.-based Coinbase, one of the world's largest exchanges that boasts almost 40 million users around the world and is gearing up for a mammoth IPO, said it is currently "considering [its] options" when asked how it will respond to the SEC lawsuit against Ripple.
"Any exchange that allows trading in XRP is potentially breaking the law, so exchanges are bound to delist it," Coppola said, adding the SEC has "a very well put together case," although couching that "the wheels of the law grind very slowly, so XRP isn't going to disappear yet."
"This potential court case is deadly serious for XRP, possibly even lethal," financial author and trading veteran Glen Goodman, who has bought and sold XRP "at various times in the past," said via email.
"The SEC doesn't muck about—if it wants to make an example of Ripple as a warning shot to similar crypto companies, it will go all out to win this case, and XRP may have to be delisted from most crypto exchanges."
"Any exchange that allows trading in XRP is potentially breaking the law, so exchanges are bound to delist it," Coppola said, adding the SEC has "a very well put together case," although couching that "the wheels of the law grind very slowly, so XRP isn't going to disappear yet."
"This potential court case is deadly serious for XRP, possibly even lethal," financial author and trading veteran Glen Goodman, who has bought and sold XRP "at various times in the past," said via email.
"The SEC doesn't muck about—if it wants to make an example of Ripple as a warning shot to similar crypto companies, it will go all out to win this case, and XRP may have to be delisted from most crypto exchanges."
