Crypto exchanges were suspicious of the increase in volatility in XRP
Coincheck temporarily suspended trading in XRP token, Prime XBT removed it from trading pairs
Orchestrated pumping and dumping could provoke the exchanges to take harsh measures
International consortium of news organizations developing transparency standards.
XRP is all over the news again, but not with the best news feeds. Cryptocurrency exchanges PrimeXBT and Coincheck decided to get rid of the coin amid an unexpected increase in volatility
Monday turned out to be tough for the cryptocurrency of California-based startup Ripple, XRP. The Japanese exchange Coincheck suspended trading in the coin, which it announced on Twitter. The company explained the decision by the unclear status of transactions with Ripple. Luckily for traders, the break ended quickly. The platform resumed trading XRP in ten minutes.
【XRP の 「売 却」 再 開 に つ い て】
一時 停止 し て お り ま し た XRP の 「売 却」 を 再 開 い た し ま し た こ の 度 は ご 不便 を お か け し て し ま い 申 し 訳 ご ざ い ま せた 今後 も Coincheck を ど う ぞ よ ろ し く お 願 い い た し ま す .https: .. //T.co/ tHju8gfgUk
– Coincheck (コ イ ン チ ェ ッ ク) (@coincheckjp) February 1, 2021
However, XRP traders operating on the Prime XBT platform were less fortunate. The exchange joined the companies that excluded the coin from the listing in pairs with Bitcoin and USDT. The decision comes into force on Wednesday, February 10.
Join our telegram channel to keep abreast of the main trends in the crypto market.
The following recent events surrounding #Ripple ($ XRP) as well as the delisting of the asset across our multiple liquidity providers, the following trading pairs will be removed on Wednesday, 10th of February, at 15:00 UTC:
XRP / BTC
XRP / USDhttps: //t.co/iL1RH8CkA5 pic.twitter.com/Rield2fo4u
– PrimeXBT (@PrimeXBT) February 1, 2021
XRP survives pumping and dumping
XRP, meanwhile, has experienced one of its most volatile days. Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More grew by 56% in a few hours, from $ 0.48 to $ 0.75, and for a short time returned to the top three in terms of capitalization. However, the bulls’ joy was short-lived. Having bounced off the high, the coin went down sharply and also in a matter of hours fell from $ 0.75 to $ 0.39.
As a result of the collapse, Tether (USDT) managed to regain its third place in the capitalization rating. Traders on Twitter suggested that someone was trying to pull off a pump and dump scheme with the Ripple token. Judging by the price movements, they succeeded.
Ripple response or manipulation?
Ripple’s response to the SEC claims is considered one of the reasons for the price increase. In particular, the company has popularly explained why XRP is not a security. In addition, the comments state that the Financial Crimes Enforcement Network (FinCEN) approved the XRP sales in 2015 and there were no objections from the SEC during that period..
The accusations provoked a sharp drop in the XRP rate, and the official response of Ripple – a rapid recovery.
However, some argue that successful manipulation of the top 5 cryptocurrency is a wake-up call. This means that the organizers are theoretically capable of pumping and dumping any currency. In practice, this is unlikely..
XRP: More Exchange SUSPENSIONS After XRP Pump (Do We Need To Worry?) XRP News, Xrp Price Prediction
Wrapping my head around how a pump and dumpCryptocurrencies are highly volatile assets. Thanks to this feature, the coin rate can significantly rise or fall in a short period … More group pushed $ XRP, one of the largest cryptos, from 0.25c to 0.75c
Didn’t think it’d be possible but the chart checks out.
No bounce yet but I think this will probably be the same as $ DOGE, with vicious 30% dead cats before dying.
– Loma (@LomahCrypto) February 1, 2021
Participation in the pumping and dumping scheme spoils the image of the coin. Price manipulation only darkens the prospects of the project.
Read also: Ripple vs. SEC: Don’t Think That Everything Will Be Okay
All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..