XRP Investors Will Still Get Their Spark Token Airdrop on Coinbase

Summary:

Coinbase will suspend buying and selling of XRP on January nineteenthHowever, XRP wallets shall be available for deposits and withdrawalXRP holders will still be eligible for their Flare Networks airdrop of Spark Tokens (FLR)Coinbase postponing instead of delisting tricks the change will wait out the lawsuit

A few hours in the past, the crypto trade of Coinbase introduced that it might suspend XRP trading on the platform as a result of the new lawsuit through the SEC in opposition to Ripple. consistent with the legit announcement, XRP buying and selling pairs will transfer into ‘restrict best’ beginning December 28th at 2:30 pm PST. Whole suspension of XRP buying and selling will be applied on January 19th, 2021 at 10 am Pacific Time.

XRP Wallets Available for Deposits and Withdrawals

The crew at Coinbase additional clarified that XRP wallets will nonetheless be active as only buying and selling will likely be affected.

The trading suspension will not affect customers’ access to XRP wallets so as to stay available for deposit and withdraw capability after the buying and selling suspension.

XRP Investors Will Still be Eligible for the Flare Networks Airdrop

Additionally, XRP investors who had saved their cash on Coinbase in the course of the Flare Networks picture on the twelfth of December will nonetheless be eligible for the Spark Token (FLR) airdrop scheduled for early next year.

Further, customers will stay eligible for the previously announced Spark airdrop (matter to approval in sure jurisdictions), and we can continue to improve XRP on Coinbase Custody and Coinbase Wallet.

A Complete Delisting of XRP by Coinbase was Considered As ‘the final Nail on the Coffin’

Ever given that news broke of Ripple being sued by the SEC, hypothesis used to be rife that prime crypto exchanges equivalent to Coinbase and Kraken might delist XRP. one of these situation was explored via Bitcoin and Crypto analyst MagicPoopCannon who defined such an act could have a ‘hugely bad affect on XRP’.

His exact commentary was once as follows.

The incontrovertible fact that foreign exchanges have now started to delist XRP is not an even signal. the percentages are very high that Coinbase will delist or halt trading within the near long run, which will obviously have a hugely bad affect on XRP. this would get very nasty sooner than it will get better.

Suspension of XRP Trading Hints that Coinbase will Wait out the Lawsuit

Going back to the Coinbase assertion approximately suspending buying and selling of XRP, the workforce at the trade has clarified that the virtual asset will nonetheless be supported on Coinbase Custody and Coinbase Wallet.

Therefore, it is prudent to imagine that Coinbase will most probably take a ‘wait and see’ way in regards to the SEC lawsuit in opposition to Ripple in anticipation of a possible favorable consequence.

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