XRP has remained in the top 10 cryptocurrencies despite the SEC lawsuit and pressure from the crypto winters. As per the latest reports, Coinbase has recently declared that it is going to end the wallet support for XRP token holders. At present, XRP is the 7th largest cryptocurrency by market cap.
The current price of XRP is valued at $0.40 per unit, and it has printed gains valued at 2% in the last 24 hours. At the same time, the currency has managed to appreciate by 7% during the last 7 days trading period. In short, there is a sense of rallying around the XRP tokens in addition to other positive retracements in the whole cryptocurrency market.
XRP has shown a resurging price trend in the wake of the latest positive developments in the cryptocurrency markets. The cryptocurrency, however, experienced a temporary stint before starting a new rally. The small retracement before allying resulted in a loss of $800 million for XRP holders within 24 hours.
Coinbase has issued a new statement claiming that it is planning to disable the XRP wallet support on its platform. It is important to note that Coinbase recently started the trend of amicus brief among other crypto enterprises to join the cause of Ripple Labs in its battle against SEC. However, the news about the delisting of XRP was the cause of the temporary stint bracket.
Coinbase Delists Few Tokens to Secure its Financial Stability
Coinbase received funding of $700 million from Ark Invest, which added it to its main ETF listing. The exchange has been making major changes to ensure its survival in the cryptocurrency markets. To this end, the exchange has decided to delist currencies like Bitcoin Cash, Ethereum Classic, and Stellar in addition to XRP delisting.
The rulings, such as the handover of Hinman letters and approval of amicus briefs, are bullish influences. However, it is still not confirmed when the case will conclude.