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The subsequent effects of XRP continue to ferment, and it seems to be heading towards the worst result we expected.
After Coinbase expressed its intention to delist XRP, we mentioned that if Coinbase makes such a statement, there is a high probability that other exchanges will also delist XRP. As expected, Bitstamp took action today.
Bitstamp tweeted announcing that in view of the recent claims by the US SEC that XRP is a security, Bitstamp will suspend XRP trading and deposits for all US customers on January 8, 2021. Other countries will not be affected. Bitstamp will closely monitor the evolving situation and continue to make adjustments accordingly.
This is regarded as the first exchange to directly take action after Coinbase expressed its position. Although it only restricted the US region, after all, regulatory agencies in other regions have not investigated XRP, so it is essentially a way to express their support for the SEC.
But this does not mean that other exchanges will not follow. In fact, it can be imagined that when an exchange is delisted, the most feared is that other exchanges will follow, and there are more and more exchanges delisting XRP. Most investors will transfer currencies to other platforms. Due to the panic effect, even if they are transferred to other exchanges, they are mostly sold. At that time, a “snowball effect” will be formed. Exchange delisting and investor selling will overlap each other. By then, even in the few exchanges that have XRP, the price of XRP will fall to a fairly low price.
The current XRP seems to have received some impact, but the impact is not particularly large, and it does not seem to have suffered a panic effect. I still want to remind here that XRP is a highly controlled currency after all, and the dealer plays a very important role behind the price fluctuations, so it is not difficult to maintain the current currency price.
If the XRP currency price starts to fall sharply at this time, investors will rush to run away, which is obviously not in the interest of the dealer. The current best practice for the bookmaker is to create a situation where XRP will fall but drop a little and then rise sharply, so as to attract investors to take over, so that the profit of the bookmaker can be maximized.
However, this situation will not last long. With more and more institutions attacking and delisting XRP and the negative impact becomes greater, the selling of XRP has become a market reaction, and the controlling party will not be able to control the currency price. So this period of time is the most important, and it depends on how many investors can attract.
This is also the most important reason why we pay so much attention to XRP recently. We hope that friends who follow our articles try not to step on this pit, because the situation of XRP is different this time. This time it is not a scandal, nor is it an internal conflict between the project team. Kind of, but facing a crisis of delisting, which means that the XRP held in the hand becomes a pile of air every minute.
Currently, there are not a few investors trying to buy bottom XRP, and there is no guarantee that XRP will be delisted by most exchanges. Separating xrp and Ripple from the relationship and opposing Ripple is the top priority. If the SEC asserts that there is a relationship between XRP and Ripple, the person in charge of XRP fines the SEC to let go and protect Ripple. At this time, for the SEC, just choose Ripple. Just open it, and xrp can still be determined directly.
In fact, this is also an opportunity for the SEC to stand up. The SEC has always wanted to control the order of the currency circle, but in the previous few operations, most of the thunder and rain were small, and this time the new SEC chairman and new team came to power. It seems to be a thing of the past to use the currency with the third market value in the currency circle to kill chickens and monkeys.
Of course, this is only a speculation based on the existing information, and we cannot guarantee the subsequent processing method 100%. We just hope that those who want to buy XRP and those who try to buy XRP can face up to the current problems facing XRP.
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