OKCoin suspend XRP trading and deposits (after Coinbase announcement)

[TravelMug]

Suspension of XRP Trading and Deposits on OKCoin

We have been closely monitoring the news surrounding the December 22nd SEC lawsuit against Ripple, the company behind XRP, and two of its key executives. As the lawsuit proceedings take place, we have determined it is the best course of action to suspend XRP trading and deposits on OKCoin effective January 4, 2021. This suspension timeline will include two key dates:

7:00 PM PST, Jan 3, 2021: Users who have borrowed from the XRP / USD margin pair (incl. Borrowing XRP and USD) are required to return the borrowed value before this time. Delays will trigger a liquidation by our systems to close the loan contracts.
7:00 PM PST, Jan 4, 2021: spot trading, margin trading, and deposits will be suspended till further notice.
It is likely that this situation will take time to reach a resolution. We will proactively inform our customers when we have information that may change our position.

Please reach out to us @okcoin on Twitter or email our support team at support@okcoin.com with any questions.

https://blog.okcoin.com/2020/12/28/suspension-of-xrp-trading-and-deposits-on-okcoin/

So after Coinbase comes OKCoin, hard to be XRP holders or investors right now, everything was went after the fork and it even almost touch $1.00. But now everything is crumbling down as the future of XRP is uncertain because of the SEC lawsuit.

[kidbounty]

coinbase, bitstamp and now okcoin, this is really bad. in the market, ripple is the most unlucky altcoin because it is not enjoying the ongoing increase. the more exchanges that start suspending ripple, the harder it will be for ripple to survive. and maybe this will be the hardest time for this coin.

[cryptomaniac_xxx]

There's are also a lot of exchanges now that are halting XRP trading completely. It's really a bad sign for XRP as we don't know which exchanges are going to still list them as probably there could be more coming next year. The best thing to do for XRP now, for me is to really exit the market and go to other countries like Japan and UK wherein XRP is not deem as securities, although they might have lost a lot of US base customers which I think is the majority of XRP holders.

[jacafbiz]

What is going to kill XRP token price is when Binance announce the suspension or delisting of the token from their exchange, I have said that Ripple is against what this space stands for but have been successful in marketing their useless tokens as the bank token some people bought into the sham

[Akiko]

What is going to kill XRP token price is when Binance announce the suspension or delisting of the token from their exchange, I have said that Ripple is against what this space stands for but have been successful in marketing their useless tokens as the bank token some people bought into the sham

Is there any reason why  will binance will delist it? Other than the SEC which is from US? Binance as far as I know is not US base so I don't see any possible reason why they will going to do that not unless they surrender and they see XRP as one of the shitcoins in the market .with low volume trade that they can add in that exchange. The daily volume given in XRP in any exchange is high so it's not that easy to surrender a coins that can give them high earnings in trading fees even the price decrease.

[TravelMug]

What is going to kill XRP token price is when Binance announce the suspension or delisting of the token from their exchange, I have said that Ripple is against what this space stands for but have been successful in marketing their useless tokens as the bank token some people bought into the sham

Is there any reason why  will binance will delist it? Other than the SEC which is from US? Binance as far as I know is not US base so I don't see any possible reason why they will going to do that not unless they surrender and they see XRP as one of the shitcoins in the market .with low volume trade that they can add in that exchange. The daily volume given in XRP in any exchange is high so it's not that easy to surrender a coins that can give them high earnings in trading fees even the price decrease.

Of course they have their Binance.US exchange, but being the biggest exchange now and seeing how other exchanges are delisting XRP, it's just about time that even Binance will succumb to the regulatory pressures here.

Are they willing to be the one to accept XRP when all things around them are delisting them? They might get a negative connotation about it and it might hit their reputation as well.

[OcTradism]

XRP won't be delisted from all crypto exchanges. Only US exchanges will do suspension, delist on XRP. On the market, there are many cryptocurrency still have a good life without trading pairs on US exchanges. I don't say the lawsuit, suspension, delist don't and won't affect the price of Ripple on market. However people are over panicly reacted to the drama on XRP.

When their minds cools down, the drama is cooled down, price of XRP will recover. It is too optimistic if saying XRP will recover to the price before its free fall but it is not impossible task. Especially, it is possible in a crazy market like crypto.

[maydna]

It seems many exchanges got the effect of the XRP news. And the exchanges suspend or stop XRP trading. Perhaps, this coin will not survive to lift the price or stay at the market because one by one of the market will not use this coin for trading. But this situation makes the investor and traders panic to sell all their XRP amount because they already got loss of their money value. I hope that the big exchange will not delist this coin and only the exchange from the USA will do that, so that does not affect too much the XRP trading.

[Shallow]

Indeed the future of XRP is uncertain and the best way as it stands now is selling, no can afford to hold on to something he is yet to understand where the future leads to; why most people invest in some coins is because, to an extent they have seen what the team has lined up and are working on, this gives them a glimpse of the future, but when challenges abounds like that of XRP, I think there is no shame in taking a bow and selling to save your funds.
More exchanges will likely release their own news soon, since it is clear none want any issue with SEC for whatever reasons, but however it is good to point out that, even in the midst of the delisting news of XRP flying around a top exchange like Kucoin is already casting support for XRP through launching a competition, this could bring a glimmer of hope and might make some other exchanges to stand by XRP, but however, let's keep our fingers crossed and watch as things unfolds.

[Blitzboy]

What a disaster. I feel hopeless for xrp. They need a lot of things to do in order to get back their trust. Now, many of my friends are accusing xrp for scamming their money. But I believe they have a big fault since they don't read news often and blindly hold xrp.

[zasad@]

In this post, I have written a list of exchanges that suspend trading in this coin.
https://bitcointalk.org/index.php?topic=5302931.msg55973666#msg55973666
There was a lot of news on the Internet that Ripple had very strong support in the United States and their representatives attended meetings with bankers to discuss alternatives for a new global payment system.
It turned out that all this is not true, and it is very difficult to win the court against SEC.

[Ratash]

Of course they would do that after the sec lawsuit and i think many exchanges will follow in their footsteps and many holders now will struggle because there is a possibility to ban the xrp from exchanges permanetly so they will lose their coins so i advise other holders who have  this token on other exchanges to sell it for eth because of the pump they may recover their lost money.

[Miaallen]

All the US based exchanges are following suite. The US bittrex also announced that they're delisting XRP from their exchange effective immediately. XRP has to negotiate if they they want the project to be taken back to scratch.

[livingfree]

All the US based exchanges are following suite. The US bittrex also announced that they're delisting XRP from their exchange effective immediately. XRP has to negotiate if they they want the project to be taken back to scratch.

Where do they need to negotiate? well, they have to face and answer the SEC.

That's all they need to do but they can still go after those exchanges that don't have US based operations. And I think that is what's happening with Kucoin. They've made a contest for XRP deposits.

They can negotiate like that but I don't think it would still make them reputable while tackling with the lawsuit. But once they win, I think that most investors that like them will come back and will regain the confidence and trust to them.

[mersal]

What is going to kill XRP token price is when Binance announce the suspension or delisting of the token from their exchange, I have said that Ripple is against what this space stands for but have been successful in marketing their useless tokens as the bank token some people bought into the sham

Is there any reason why  will binance will delist it? Other than the SEC which is from US? Binance as far as I know is not US base so I don't see any possible reason why they will going to do that not unless they surrender and they see XRP as one of the shitcoins in the market .with low volume trade that they can add in that exchange. The daily volume given in XRP in any exchange is high so it's not that easy to surrender a coins that can give them high earnings in trading fees even the price decrease.

Of course they have their Binance.US exchange, but being the biggest exchange now and seeing how other exchanges are delisting XRP, it's just about time that even Binance will succumb to the regulatory pressures here.

Are they willing to be the one to accept XRP when all things around them are delisting them? They might get a negative connotation about it and it might hit their reputation as well.

Binance US is completely different from the universal Binance exchange so trading activities of XRP is not supposed to take any hit on the universal Binance exchange which is the one I guess the above user is asking. But it is clear that future of XRP looks too dim which maybe completely shut down as well so better cash it out since the time is running out.

[pixie85]

coinbase, bitstamp and now okcoin, this is really bad. in the market, ripple is the most unlucky altcoin because it is not enjoying the ongoing increase. the more exchanges that start suspending ripple, the harder it will be for ripple to survive. and maybe this will be the hardest time for this coin.

It's not unlucky it's centralized!

Here's where the difference between independent decentralized coins and centralized company-owned coins comes to play. Like when Libra was coming out people were asking if it will be the BTC killer and I kept telling them that it can be only a stablecoin/xrp/stellar killer because these are centralized and decentralized cryptocurrencies don't compete with centralized ones.

The death of XRP will have no negative impact on bitcoin but the death of bitcoin could destroy XRP. It looks like some XRP is already adding to the bitcoin's uptrend so as a BTC holder I'm very happy.

[Em00n01]

A few minutes ago Binance.us also published that they are going to suspend trading and deposit of XRP. Sec just killed XRP!

[lionheart78]

All the US based exchanges are following suite. The US bittrex also announced that they're delisting XRP from their exchange effective immediately. XRP has to negotiate if they they want the project to be taken back to scratch.

Negotiate means.. they have to pay fines and other penalties, worst, the founder would go to jail.  Well, I believe XRP can still fix this problem by simply following the possible solution that SEC may require them, and probably that is to register their security after paying all the penalties.  If this problem get solved, I believe XRP will be stronger than before, well that is if it get solved.

[FaucetKING]

Not happy hearing these news, imagine if the Sec opens a law suit against Bitcoin as a cryptocurrency .. what would happen? I think that XRP deserves this case and they might still exist after the value drops but can we really expect a bright future when govs still can effect the crypto world and manipulate it ?

[TimeTeller]

A few minutes ago Binance.us also published that they are going to suspend trading and deposit of XRP. Sec just killed XRP!

This is what I was anticipating to happen next.

https://www.coindesk.com/binance-us-says-it-will-delist-xrp-on-jan-13

XRP will soon hit below $0.20, that's very sad for those who believe with XRP when it was gaining its price more than $0.50.
The team should rectify their situation as soon as possible before all their stakeholders lose their trust to this project.
There are so many companies that are already involved in their platform. Some are local exchanges which include XRP in their coins list.