In light of the recent US action against Ripple, cryptocurrency exchange Coinbase on Tuesday said it will suspend trading in XRP cryptocurrency from January 19.
The value of XRP, worlds third largest cryptocurrency after Bitcoin and Ethereum, crashed more than 40 per cent after the US Securities and Exchange Commission (SEC) sued both the founder and current CEO of its parent company Ripple for raising more than $1.3 billion through an "unregistered securities offering" after selling XRP.
Coinbase said in a statement that the trading suspension will not affect customers' access to XRP wallets which will remain available for deposit and withdraw functionality after the trading suspension.