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Coinbase wallet stops supporting Ripple (XRP)

 


As Coinbase announces in its own blog , the Coinbase wallet will soon no longer offer support for the XRP asset. The exchange stopped trading in the token back in January 2021. Could these decisions have something to do with the Ripple-SEC litigation?


As Coinbase announced yesterday , the platform's wallet will no longer support Ripple (XRP), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Stellar (XLM) assets and networks. This decision was allegedly made due to the low usage of these blockchains and will come into effect from January 2023 .


As early as January 2021, Coinbase delisted XRP from exchanges, soon removing the asset from its list entirely. XLM, BCH and ETC, on the other hand, are at least still traded on the Coinbase exchange.


Coinbase decision does not affect XRP price

While this announcement may arguably panic some Ripple investors, it doesn't appear to have impacted the token's price as of now. Whether with or without Coinbase - part of the community still seems convinced of XRP's success . 

Until recently, Coinbase supported Ripple in its fight with the Securities and Exchange Commission (SEC) , but has now decided to remove the wallet integration for XRP as well. This decision caused divided opinion in the crypto community regarding Ripple's recent success in this lawsuit .


While some believe the actions taken by Coinbase would not affect the XRP vs. SEC case, others are now skeptical about XRP's victory. Since Coinbase was closely involved in the case, some are suspecting the exchange to have a premonition. Why would the platform stop trading the asset unless it had serious doubts about the success of the litigation? The community says it doesn't sound like XRP's chances of success in court are particularly good. This circumstance inevitably leads us back to the million-dollar question: Is XRP a security?

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