Coinbase Plans to Suspend XRP Trading Next Month

Cryptocurrency exchange Coinbase announced Monday that it will suspend trading in XRP on Tuesday, January 19, 2021 at 10 AM PST as the U.S. Securities and Exchange Commission filed a lawsuit against Ripple.

Specifically, XRP trading moved into limit only starting December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 a.m. PST. 

The suspension will not affect the firm's clients' ability to access wallets with XRP. Deposit and withdrawal will remain available. In addition, customers will remain eligible for the previously announced Spark airdrop (subject to approval in certain jurisdictions), and the exchange will continue to support XRP on Coinbase Custody and Coinbase Wallet.

It is noted that trading may be halted earlier as needed to maintain market health metrics. The crypto company will continue to monitor legal developments related to XRP and will provide additional updates, if any, through the Coinbase Support Twitter account, including if there are any changes to timing.