Ripple Update | Bittrex Becomes Latest Exchange to Delist, XRP Falls Back to April Levels, Official Statement Finally Released

The Ripple lawsuit continues to escalate, with exchanges, market makers, and investment institutions gradually delisting XRP. After the prominent exchange Coinbase confirmed it will delist XRP by January 20th Taipei time, the official response referred to these events as "unproven allegations," highlighting that the media and the public have only received one-sided information from the SEC.

As of now, the following institutions have made changes regarding the SEC lawsuit:

Exchanges

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• Coinbase suspends trading, custody and wallets remain unchanged
• Bitstamp halts trading and deposits for U.S. customers
• OKCoin suspends trading and deposits
• Bittrex suspends trading, wallets remain operational
• CrossTower suspends trading and deposits
• Beaxy suspends trading and deposits
• OSL suspends trading and deposits

Market makers, OTC traders suspend XRP trading

• Jump Trading
• Galaxy Digital
• B2C2

Asset management institutions

• Bitwise removes and liquidates XRP from its fund
• 21Shares removes XRP from its investment products
• Crypto.com delists XRP from the U.S. app
• Sarson Funds remove XRP from investment products and liquidate positions

Payment processors

• Wirex delists XRP from the U.S. app
• SwipeWallet suspends XRP trading and deposits for U.S. users, withdrawals available before 08:00 on 1/12 Taipei time
• Simplex suspends trading
• Ziglu suspends trading

XRP Holders Are Innocent

Ripple has issued astatement on their official website indicating that the SEC's actions not only affect Ripple but also attack the entire U.S. cryptocurrency industry. Ripple stated:

We have always emphasized the danger of the lack of clear regulations for the cryptocurrency industry in the U.S. This lawsuit has affected numerous innocent XRP holders. Furthermore, it is unnecessary for exchanges, market makers, and traders to wade into this mess. The SEC is bringing more uncertainty to the market, continuously harming the very entities they should be protecting.

Ripple's Customer Base is Not in the U.S.

Ripple further pointed out that the company will continue to operate and support its products globally, including in the U.S.:

The majority of XRP token trading takes place outside the U.S., with clear adoption in countries such as the UK, Japan, Switzerland, and Singapore. Over the past eight years, Ripple has introduced payment solutions that have helped hundreds of customers. Ripple will defend against the lawsuit and looks forward to resolving this case in court, ultimately bringing clarity to the U.S. cryptocurrency industry.

In fact, Ripple's former legal advisor Stuart Alderoty previously questioned on Twitter: "SEC claims Ripple sold unregistered securities since 2013, but why did they only sue the day before former chairman Jay Clayton left office?" suggesting that the truth is not straightforward.

Therefore, in its latest statement, Ripple expressed that the SEC chairman, directors of the six divisions, chief economist, and general counsel have all undergone personnel changes, and Ripple looks forward to positive interactions with the newly appointed officials in the future.

Following Coinbase's announcement of halting XRP trading, XRP's decline has continued, falling below $0.20 to levels last seen in April this year. Additionally, according to a recent announcement by Bittrex, the exchange will delist XRP trading pairs on January 16 at 08:00 AM Taiwan time, while users can still access their wallets.