BitMesh Removes Ripple’s XRP Cryptocurrency, But Likely to Not Have Much Effects
- BitMesh has been delisting many tokens, including XRP.
- The decision to delist appears to be due to liquidity concerns.
The BitMesh team released a new email to their customers, letting the community know about some changes in the altcoins, tokens, and assets that will be taken off of their platform in the coming days.
Even though the delisting of these offerings will not realistically change much for the community, the fact that XRP is one of the crypto assets that will be removed from the platform is enough to turn some heads. Considering that XRP is one of the top markets that the industry has seen, why would the platform drop it?
There is plenty of reasons that could have led to that choice, though the fact that XRP appears to be one of the least liquid markets on BitMesh’s platform.
The only way it is traded is against Bitcoin, which is why there is not that many people that will be excited to get involved with it anyway. The trading pair is found on nearly any platform for the trading platform, so it isn’t like volume is an issue.
Since XRP does not appear to have much trading on the platform anyway, it will not likely be missed on the platform. The Ripple-based asset is presently trading with 400 trading pairs apart from BitMesh, though quite a few of them do not show any significant trading volume either. Still, none of these platforms have made the same move as BitMesh.
Lacking an explanation from BitMesh or any exchange about why a particular market was dropped is never good, but it doesn’t look like the price trend for XRP will be disrupted at all. BitMesh, after all, is still very small, and doesn’t speak for the better part of the market anyway, even though Twitter will likely feature a few worried tweets from users of the platform.
For the most part, any tweets or social media posts meant to induce panic about XRP should be ignored. If nothing else, BitMesh is a minor exchange that has mostly made this decision from a liquidity perspective, rather than anything worse.
Still, with this delisting, BitMesh users should go ahead and withdraw their XRP and any other assets on the chopping block. After the next two weeks are over, withdrawals will not be available.