Bitcoin Forum

Bitstamp: XRP trading and deposits to be halted for US customers

In light of the recent SEC filing against Ripple Labs Inc., which alleges that XRP is a security, we are going to halt all trading and deposits of XRP for our US customers on 8 January 2021 at 9 PM UTC.

We will closely follow the unfolding situation and continue to adapt accordingly.

Our US customers will still be able to withdraw XRP from Bitstamp. Customers from other countries are not affected.

https://www.bitstamp.net/article/xrp-trading-and-deposits-be-halted-us-customers/

This announcement could be the reason of the recent crash in price of xrp. The price recovery was going well before this announcement which has really crushed the price again, in coming days more paltforms can make similar announcements so the price can stay under stress.

Soon a lot of coins and tokens will be desisted from USA exchanges. All that hard an ICO or have a developer tax or had a premine or instamine or whatever scam they did. I just dont know why SEC needs 8 years  to do that. I guess it needed to start rolling somewhere. 

I have expected more bad news will come for ripple. Ripple has no chance to win against SEC. I have learned a lot from the previous case that happened with some old projects like TON telegram, Kin and many more. More US exchange sites will announce to halt the trading, deposit, and withdrawal for XRP.
The question is why there are still people who buy XRP until today.

That will ultimately affect as for sure.  :-[ Anyway, XRP is the coin one should never hold. I think of it being centralized and it doesn't attract me anymore.

Ripple has been very strong in the face of these negative developments so far. I expected a greater depreciation.
SEC issue will be discussed for a longer time. Other exchanges such as Bitstamp, can implement the same measures.

SEC and DOJ have been filing lawsuits against scam and fraudulent project, but it just magnify in 2020, like Telegram, KiK and other high profile ICO's before. It's not too late though, as we all know that there are no clear regulatory framework.

But with the recent XRP debacle, just a matter of time before other exchanges delist XRP because of the lawsuit coming from SEC.

Bad news for XRP again
One of the biggest crypto exchange Bitstamp to Halt XRP Trading, Deposits in US Due to SEC Lawsuit. Many other exchanges may follow and this can create panic again. But people don't understand it is all for US users not for other countries users. We need to understand this.

Not a bad news if it's already expected from the time when XRP getting sued by SEC for a humongous amount of $1.3Bln illegal security offering (based on some news) and the obvious decision those big exchanges gonna take is to save their company from any threat and to serve their best interest and that requires them to get rid of XRP from their platform.
Though some of exchanges just forbid US citizens from anything to do with XRP but it might give significant impact to the whole market capitalization of XRP

Why did Bitstamp take such a step at this time? The lawsuit is still filed and no final judgment has been issued. They are similar to the tokens that Telegram was planning to sell, and it collected sums of money from investors before returning those amounts. So why does the platform restrict it?
What would happen if it was proven that XRP is a security?

I do not know the XRP trading volumes on Bitstamp, but I do not think that Ripple is weak crypto that delisting on one platform affects its prices.

Soon more and more platforms will restrict U.S. citizens from getting involved with crypro due to strict compliance and to avoid conflictand obligations from SEC of U.S.A. It can only be XRP today, soon other altcoins will be targeted by XRP. XRP price had swinged really hard from the recent pump after this news.

This is what most market participants think. And it is possible that this is what a large capital is now seeking, which has large investments in this coin. Thus, large capital will continue to buy the coin when it is dumped by market participants who are prone to panic. Therefore, the price of XRP can rise again, as it was a day ago, when the value of the coin increased by 40% in 2 hours.

ripple is the second largest trading volume coin on the bitstamp exchange. and more than 5% of ripple's daily trading volume comes from this exchange. so if there were any restrictions, it would be hot news. there will definitely be an impact, and there are still possibilities for other exchanges to follow bitsmap. I think Ripple is in big trouble.

Ironic indeed, after all this time xrp has been in the new crypto world now the SEC is acting decisively, if it's like this the price will continue to fall and it's difficult to get back up again, it's better to avoid doing daily trading for xrp because most people are currently throwing away what is there not to fall into the endless abyss.

They should have a solid case they waited 8 years and allow Ripple to make tons of money, what a time to break the bad news to the Ripple management, the big question now that things are going bad for Ripple, can they still stay in the top 10, we know SEC if they want to stop one company they can do that and this news is one of the step that was caused by SEC.

Worst case scenario would be getting delisted from main exchanges. Ripple will possibly lost its value. Compared to  the issues XRP have faced before, this one is getting serious. People are now forced to decide wether to exit or continue their investment in Ripple, but more people are lossing the trust to ripple, as evident its been multiple of days of dropping in price.

Temporary and only US base exchange do that . As investors you should not be so much afraid about the FUD given even it's from SEC there already project that been sued before so its not the first time . XRP also planed to migrate in other countries and they have office already in other country so it's easy for them to migrate if ever the case will not be in favor in them . The real problem here is the partnership if they will also abandoned XRP and move to other coins instead.

Once SEC are into you, there's no way out. Monero was one of the coin that was taken into consideration by the SEC and it's still not available to trade for US investors. Now it's time for ripple. Though US is not the largest market and exchanges are not the only way to trade crypto. But the US ban would have much more significant effect on Ripple than on Monero as the userbase of both the coins are different. Monero was already used avoiding popular exchange while Ripple is highly depended on centralized exchange.

I mean not all centralized exchange is following us regulations since they are in different states and different regulations to follow. I will wait for other popular exchange announce it so it may have big affect from US investors. I also heard that other investors from preparing their wallet to transfer it there than to sell it cheaper with today's price.

some usa exchange already had global marke, and most of them will continue to available for non usa customer

xrp might end up on yobit lol, they wont delist any coin, stay forever

hope for the best xrp holder, we all know xrp itsnt crypto, they centralized coin

Bitstamp, next, Coinbase. XRP can't stop this. This is inevitable because they can't provide solid evidence that they aren't a security coin but all they've done so far is pointing them that XRP is security. If they can't do anything about this, it's the end of XRP. This will not stop with just Bitstamp restricting US users.

There will be tons of these to please the US government as well. You will see that places like binance and all other centralized exchanges will start to delist ripple for sure, because USA will ban them in the end if they found them guilty, and until they are found either guilty or innocent, they will be in investigation and in a lawsuit as well, which means exchanges will definitely delist them if they want to do any business in USA, which is binance right now, because if they are found guilty and you continue to operate with XRP while they are under investigation, which is basically a warning, that means you do not care about SEC at all and they will look into the XRP deals you made as well, every single trade made on that exchange will be illegal as well.

So all in all I am 100% sure that people will definitely look for something else and delist xrp very soon.

I saw the announcement in the Bitstamp's twitter account yesterday, it didn't come from no where, they are a company and they should be in line with the news and these troubles with the SEC could lead to bigger troubles if these exchangers doesn't comply with the law, they might be touched or the united states gov could open other cases for the exchangers that aren't respecting the law. It's understandable from my side, some investors are making angry reactions but laws should be respected.

If that happens, I am afraid that XRP will not sustain for the delisted on the main exchanges. People still hold their XRP, maybe they still waiting for the next update from the dev which I am sure that they will not stay to see XRP delisted. Well, we should wait for the next news from them, and hopefully, XRP will not delist.

Yes, it is a serious problem for the dev, and they need to solve the problem as soon as possible. I can not imagine what will happen if all partnerships also get infected from that news. That will make a big panicking from the investors and they will leave XRP and the project without looking back.

I don't think that they are having a choice here. The SEC is very clear in their directive, and the exchanges need to comply. And this is not just applicable for those exchanges which are based in the United States, but also for the foreign exchanges which have American users.

Now the big question arises. What will happen if the SEC classify other cryptocurrencies as securities? If they have done this to XRP, then what prevents them from doing the same to cryptocurrencies such as Bitcoin, Ethereum and Bitcoin Cash? So every time the exchanges are going to comply with the order and stop trading?

They can only strict from US investors for buying XRP same thing with bitstamp  do to XRP. but major exchange will not totally delist it because they don't have any reason to do so ,unless they are from United States which need to also follow their countries regulations.

I don't know where they will make official announcement about the result of it ,. But hopefully they do it faster because as of today XRP is too much affected with that news.

There are still many questions arising from this whole situation. One thing is certain, namely that the crypto market will never be the same. and this is good, because now he is reckoned with, which means he has already come to the masses and the world is adapting.

Large firms don't get affected by even 50% loss while retail investors do. Why should someone jump into a mess when s/he can avoid i in the first place? When a token lose its value, your theory is applicable for every single time but that doesn't make the native company stronger.