Bitstamp halts XRP trading for US customers as token price resumes decline

The oldest European cryptocurrency exchange Bitstamp will close XRP trading for US users.

In light of the SEC’s recent filing alleging XRP is a security, we are going to halt XRP trading and deposits for all US customers on January 8, 2021. Other countries are not affected. Read more: https://t.co/RUGtkAjr08

— Bitstamp (@Bitstamp) December 25, 2020

“In light of the SEC’s recent lawsuit, which alleges that XRP is a security, we intend to halt trading and close the ability to deposit for all US users as of January 8, 2021. The measure does not apply to other countries.”

Soon after the announcement, XRP’s price interrupted the upward correction amid the unwinding of short positions. Within two hours the asset fell from $0.38 to $0.29.

Hourly XRP/USD chart for Bitstamp from TradingView.

US users account for more than 11% of Bitstamp’s traffic, according to SimilarWeb. The exchange sits at 12th in CoinGecko’s ranking, which takes into account normalized trading volume and traffic.

Recently, the token’s support ceased by Galaxy Digital, Mike Novogratz’s crypto bank, and Chicago-based Jump Trading.

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