Coinbase announced the removal of XRP from Coinbase Wallet. Is it because of the ongoing XRP vs SEC battle?
Today, Coinbase announced that Coinbase Wallet will no longer support the assets and network of Ripple (XRP), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Stellar (XLM). Due to low usage, the above mentioned blockchain networks and their coins will not be supported from January 2023.
Earlier, in January 2021, Coinbase halted the trading of XRP on the Coinbase exchange. So XRP is completely out of Coinbase, but XLM, BCH and ETC can be traded on the Coinbase exchange.
Impact on XRP Price
Coinbase’s announcement sent shockwaves across the market. But there is no visible effect on the price of the token. community believes that XRP will be in demand with or without Coinbase.
Coinbase has supported Ripple in its battle with the Securities and Exchange Commission (SEC). But XRP is now completely out of Coinbase, both the exchange and the wallet no longer support it. crypto community doesn’t feel confident That this kind of delisting from Coinbase will lead to the XRP vs SEC battle being settled any time soon.
Although some to accept While the actions taken by Coinbase have nothing to do with the status of the XRP vs. SEC case, others are skeptical about XRP winning. Coinbase was closely involved in the matter, so the community miracle Why would he delist XRP unless he has a good sense that Ripple will not be able to beat the SEC. they feel XRP doesn’t seem to be doing well in the courtroom. This leaves people back to the million-dollar question, is XRP a security?
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