Kraken Halts XRP Trading; DOT Replaces the Digital Asset as 4th Largest Crypto Asset
Cryptocurrency exchange Kraken has become the latest platform to halt XRP trading for US residents from January 30, 2021, at 1:00 UTC due to SEC filing against Ripple Labs. For those users residing in other countries, XRP markets will continue to operate uninterrupted.
US residents with open XRP spot positions on the margin on Kraken are also required to satisfy their margin obligation by January 28, 2021, at 11:59 pm PT, or their positions will be liquidated.
While US residents won’t be able to trade XRP, these users will still be able to deposit, hold, and withdraw XRP on the exchange. Also, this will not affect Spark token airdrop.
As the list of crypto outlets suspending XRP trading for US users continues to get bigger, the digital asset continues to lose its value.
Among the top 100 crypto assets, XRP is not only the one with over 50% losses in the last 30 days but is also among a handful of cryptocurrencies that are experiencing a downtrend.
Since Bitcoin took to ranging this week after the pullback, altcoins are using this opportunity to rally and DeFi tokens have simply exploded so much that Polkadot (DOT) has replaced XRP as the fourth largest cryptocurrency by a market cap of $14.48 billion XRP -11.43% XRP / USD XRPUSD $ 1.41
-$0.16-11.43% Volume 11.54 b Change -$0.16 Open $1.41 Circulating 35.11 b Market Cap 49.48 b 3 d BoE Governor Andrew Bailey Says Crypto Investors Trading In A Bubble 3 d Ripple Reports 97% Growth In XRP Sales For Q1 2021 Amid SEC Lawsuit 5 d SEC Moves To Expunge XRP Holders From Ongoing Ripple Lawsuit With Latest Filing . Polkadot has been enjoying an uptrend lately, hitting an all-time high at $18.30 in the process DOT -12.32% Polkadot / USD DOTUSD $ 36.46
-$4.49-12.32% Volume 3.23 b Change -$4.49 Open $36.46 Circulating 936.91 m Market Cap 34.16 b 3 d BoE Governor Andrew Bailey Says Crypto Investors Trading In A Bubble 5 d Binance Smart Chain (BSC) Is Feeling the Pressure of the Heightened Network Demand 5 d Bitcoin and Ether Record The Largest Inflows Since February: CoinShares Report .
— $trong (@StrongHedge) January 15, 2021
XRP is currently trading at $0.289 with a market capitalization of $13 billion.
On data provider Messari, even Cardano ADA -7.60% Cardano / USD ADAUSD $ 1.63
-$0.12-7.60% Volume 6.43 b Change -$0.12 Open $1.63 Circulating 31.95 b Market Cap 52.02 b 4 d Georgia’s Apex Bank Considers CBDC, Calls For Partnerships 5 d Bitcoin and Ether Record The Largest Inflows Since February: CoinShares Report 1 w Due to Increased Demand, Social Trading Platform Firm eToro Now Supports DOGE has jumped above XRP at the 5th spot with Liteocin LTC -11.91% Litecoin / USD LTCUSD $ 356.02
-$42.40-11.91% Volume 12.14 b Change -$42.40 Open $356.02 Circulating 66.75 m Market Cap 23.77 b 4 d Ethereum Fork ETC Trading 12% Higher on Coinbase, CAKE Wicks Down Over 13.5% on Binance 5 d Grayscale Partners with New York Giants, Becoming the Second Crypto Sponsor of an NFL Team 5 d Bitcoin and Ether Aren't the Top Traded Crypto's on Binance Or the Biggest South Korean Exchange ready to take even the 6th spot from XRP.