Cryptocurrency exchange BitBox withdraws support to XRP

Cryptocurrency exchange BitBox withdraws support to XRP

Bitbox, the cryptocurrency exchange owned by the Japanese instant messaging app Line, has decided to withdraw its support to the world’s third-largest cryptocurrency by market cap, XRP, according to the official announcement dated 5th January 2020.

BitBox, a leading cryptocurrency exchange that thrives on a wide range of coin offerings, an extensive customer support system, and a cutting-edge technology to ensure the security and safety of the crypto holdings, commenced its operations in 2018 with a hardcore emphasis on enhanced user experience and comprehensive support. Today, it has over a whopping eight million user base worldwide.

Cryptocurrency exchange BitBox waves goodbye to XRP

In its efforts to bring the most user-friendly and trustworthy cryptocurrency trading platform to its users, BitBox is now re-assessing the cryptocurrencies that trade on the platform. Apparently, real-time payment settlement provider Ripple’s native crypto, XRP, does not comply with the standards based on the liquidity, user experience, dependability and performance, and thus found itself delisted from the exchange platform.

According to the announcement, BitBox will no longer support XRP/Bitcoin, XRP/Ether, and XRP/Tether trading pairs from 17th January 2020. From this date onwards, the platform will be unable to process XRP withdrawals, deposits, and trades. All unfinished XRP transactions will be nullified and taken off the system automatically. Thus to ensure the utmost security of your holdings, the platform is urging everyone to cancel all XRP orders before the coin gets delisted manually.

Following the delisting date, users will get exactly one month, that is, until 16th February 2020,  to withdraw all XRP coin holdings, following which, XRP withdrawals will be disabled. 

Ripple has no control over XRP sale, Ripple CEO

Meanwhile, Ripple CEO, Brad Garlinghouse, recently confirmed in an interview that the payment settlement giant does not influence the price of XRP, despite acknowledging the fact that Ripple stands to make massive gains with XRP sale and is currently largest holder of XRP tokens. Ripple does not control XRP price any more than whales control Bitcoin’s, he declared.

Featured Image by Pixabay

Manasee Joshi

Manasee Joshi

An avid reader and an enthusiastic writer, Manasee recently chose to dedicate her time doing freelance writing. A degree in English literature and experiences in Administration, HR, finance, literature, creativity and innovation tucked under her belt, she crafts engaging and compelling content for crypto and blockchain audience.

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