Cryptocurrency alternate Bittrex announced on Dec. 29 that it is going to be eradicating all XRP markets ranging from Jan. 15, 2021. Buying and selling pairs affected are BTC/XRP, ETH/XRP, USDT/XRP and USD/XRP.

The announcement comes simply days after fellow alternate Coinbase stated that it might droop buying and selling in XRP from Jan. 19.

XRP’s fortunes have taken a big downturn since the USA Securities and Alternate Fee unveiled a lawsuit in opposition to XRP issuer Ripple final week.

The lawsuit alleges that Ripple, together with CEO Brad Garlinghouse and co-founder Chris Larsen, have raised greater than $1.3 billion by what it claims is an unregistered, ongoing securities sale of XRP.

Ripple hit again yesterday, claiming that the SEC’s “assault” on Ripple is an try to convey down the whole U.S. crypto trade.

Whereas denying that XRP is certainly a safety because the SEC claims, it additionally famous that almost all of XRP clients reside exterior of the U.S. and that it might proceed to function and help its merchandise in the remainder of the world.

Nevertheless, this appears to have executed little to reassure buyers, as XRP worth dropped one other 10% up to now 24 hours to $0.20.

XRP had been using excessive previous to the announcement of the SEC lawsuit, hitting a yearly excessive of $0.67 in late November.

With 70% of that worth now worn out, analysts are questioning whether or not this lawsuit might be a closing death-knell for XRP.