B2C2, one of the prominent market-making firms in the cryptocurrency market has become the latest crypto firm to suspend the trading of XRP the native digital currency of the San Francisco-based blockchain payments firm Ripple. As reported by The Block news media, this move has been taken by B2C2 in the light of the recent lawsuit filing by the United States Securities and Exchange Commission against Ripple.
B2C2 Halts XRP Trading With US Counterparties
As per the report, this news of the suspension of XRP trading by the crypto market-maker B2C2 was confirmed by a representative of the company. The customers of the firm based in the United States will now not be able to access the trading of the fourth-ranked digital currency. However, the non-United States customers will still be able to trade with XRP on the platform of B2C2 but the company said that they will have to pre-fund all of their short trades.
According to The Block’s article report, the firm has said that it will provide its clients with further notifications regarding any future developments.
Prior to the B2C2 digital currency market-maker, various digital currency exchanges and cryptocurrency firms have dumped the fourth-ranked digital currency. CrossTower was one of the first digital currency exchanges to halt the trading of XRP. Following the footsteps of CrossTower, other minor digital currency exchanges including the Chicago-based digital currency exchange Beaxy and the Hong Kong-based cryptocurrency exchange OSL also delisted XRP from their trading platforms and stopped trading of the coin for the United States customers.
Bitwise Asset Management, the leading cryptocurrency firm based in San Francisco also recently announced to liquidate its position in XRP in wake of the SEC’s filing against Ripple. Apart from this, two prominent crypto firms Jump Trading and Galaxy Digital also announced to stop making markets for Ripple’s native digital currency.
XRP Price Is Still Trading Bearish
XRP has not been able to recover so far the loss it faced in the beginning of this week due the lawsuit filing of the SEC against its parent company. It lost its bullish momentum and fell right into the bearish zone where it is currently trading. The price of XRP went down below to the $0.23 mark.
It is still trading extremely bearish. And it seems that there are no chances of recovery for XRP in the coming days. At the time of writing, the price value of XRP is standing at around $0.29 with a negative change rate of -3.78%.
