[Article updated with FAQ on 31 December 2020]
In light of the recent SEC filing against Ripple Labs Inc., which alleges that XRP is a security, we are going to halt all trading and deposits of XRP for our US customers on 8 January 2021 at 9 PM UTC.
Our US customers will still be able to withdraw XRP from Bitstamp. Customers from other countries are not affected.
To clarify how this impacts our customers, we’ve compiled a list of frequently asked questions:
What does this mean for me?
After 8 January 2021, you will not be able to trade or deposit XRP and all your open orders will be canceled.
Will I still be able to hold and withdraw XRP?
You will be able to hold your XRP at Bitstamp for the purpose of withdrawing it after 8 January. How long you can continue to hold XRP in your account remains to be determined and we will make sure to let you know as soon as more information becomes available.
How long will these changes last?
We are monitoring the situation regarding the SEC's filing and will adapt according to any new developments.
Will this impact Bitstamp’s IOU services?
We don't anticipate any changes to our Ripple IOU services. If this changes, we'll make sure to inform you in a timely manner.
Will this impact distribution of Spark tokens?
This does not affect our plans regarding the Spark token airdrop.
Thank you for your continued support in this matter. We will closely follow the unfolding situation and continue to adapt accordingly. Updates will be posted on our Twitter account as more information becomes available.
FAQs
Coinbase suspended Ripple (XRP) trading on its platform in January 2021 due to the SEC's (Securities and Exchange Commission) lawsuit against Ripple Labs. The SEC accused Ripple Labs of offering unregistered securities, which would make XRP trading illegal in the US.
Why can't Americans buy XRP? ›
XRP's regulatory issues
First and foremost, there's the problem of XRP's regulatory woes. These date back to December 2020, when the SEC filed a lawsuit against Ripple Labs, the creator of the XRP crypto token. According to the SEC, XRP is a "security," and it is doing everything in its power to regulate it as such.
Why can't I trade my XRP on Coinbase? ›
In light of the SEC's lawsuit against Ripple Labs, Inc, we have made the decision to suspend the XRP trading pairs on our platform.
Why hasn't XRP taken off? ›
That's because an ongoing litigation cloud is casting a large shadow. Ripple Labs, the creators behind XRP, is locked in a lawsuit with the Securities and Exchange Commission over how the token should be regulated and the potential punishment for selling the token to institutional investors.
What happens if XRP loses a SEC case? ›
However, if Ripple loses all appeals, the SEC is likely to collect the $1.3 billion (the amount that the regulator alleges that Ripple earned from the unregistered securities sale) and offer XRP holders an option to sell their holdings.
Will I be able to trade XRP again? ›
Coinbase (COIN) said on Thursday that it will restart trading for Ripple's token if there is enough liquidity for the token in its platform. "Coinbase will re-enable trading for XRP (XRP) on the XRP network," the exchange said in a tweet on Thursday.
Can US citizens buy XRP now? ›
Yes, investors can trade XRP on major U.S. cryptocurrency exchanges, including Coinbase, Gemini and Kraken.
Where can US citizens still buy XRP? ›
When it comes to buying crypto like XRP, there are a lot of factors that come into play, such as location and protocol. Fortunately in United States, you can buy XRP on Coinbase's centralized exchange. Coinbase is the most trusted place for people and businesses to buy, sell, and manage XRP. It's quick and easy.
Can I sell my XRP in the US? ›
Yes, you can buy and sell Ripple using USD on Kraken. We support a diverse network of payment processors around the world that make it easy to sell Ripple. How do I convert Ripple to cash? Select USD, EUR or your preferred cash in the tool above to see how much cash you will receive when selling your Ripple.
Can I cash out my XRP on Coinbase? ›
Yes, you can withdraw XRP from Coinbase and deposit it into your bank account. To do this, you'll need to sell your XRP for fiat currency (e.g. USD) first. Follow these steps: 1.
Off-ramping fiat
directly to your bank account, you can simply exchange your XRP for the desire stablecoin then send the send it to you bank via our integration with Gatehub.
Why won't Coinbase let me cash out XRP? ›
How do I withdraw my XRP from Coinbase? You can only withdraw it to another exchange and cash out there, or convert it to something coinbase supports and deposit that back to cash out. Send your xrp to uphold or voyager and sell it there.
Has XRP won the SEC case? ›
The SEC sued Ripple, its CEO Brad Garlinghouse and co-founder Chris Larsen in 2020, accusing them of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The SEC dropped its remaining claims against Garlinghouse and Larsen in October.
Will XRP be worth anything? ›
Our real-time XRP to USD price update shows the current Ripple price as $0.514964 USD. Our most recent Ripple price forecast indicates that its value will increase by 26.37% and reach $0.650769 by May 03, 2024.
What will 1 XRP be worth in 2025? ›
How much will XRP be worth by the end of 2025? XRP might reach a high of $3.38 or an average of $2.925.
What does a trade suspension mean in crypto? ›
When a coin is suspended from trading on Binance, it means that the coin has been temporarily removed from the Binance platform. This can happen for several reasons, including: • Technical issues: If the coin's blockchain is experiencing technical issues, Binance may suspend trading until the issues are resolved.
Will Coinbase allow XRP trading again? ›
Yes, XRP is currently available to buy on Coinbase's centralized exchange.
Is XRP trading not available? ›
Most exchanges that list XRP are not allowed to operate in the United States. In addition, the cryptocurrency exchanges permitted in the U.S. do not list XRP in response to an investigation by the Securities and Exchange Commission (SEC). So, if you're in the US, we think it's already clear why you can't buy XRP.
Is Coinbase going to reinstate XRP? ›
Already a subscriber? Coinbase, Kraken, and Bitstamp announced that they would reinstate the cryptocurrency on their platforms.
