Hong Kong-based SFC-licensed digital asset platform OSL has suspended the trading of XRP on its platform following the recent lawsuit filed against Ripple and it two executives by the SEC.
XRP has been going through some turbulent times since the CEO Brad Garlinghouse first mentioned that the company would soon be charged by SEC with trading unregistered securities on Tuesday XRP dropped by 18% after the disclosure.
Also, after the SEC formally filed the lawsuit against the company with the allegation that Ripple and the executives had raised more than $1.3 billion in ongoing, unregistered securities sales, XRP experienced a 25% crash to around 35 cents on Wednesday morning.
Bitcoin still maintains growth with $23,849.48 in current price, increasing by 2.60% in the last 24 hours. Within 24 hours, bitcoin dropped to only $22,822.26 low and experienced $24,020.68 high. The trading volume of bitcoin in the last 24 hours is $38.24B. The current market capitalization of bitcoin is $443.08B. Currently, 18,579,012.5 bitcoins is in circulation.
Stats and Image from Coin Desk
The indefinite suspension of XRP from OSL trading platform is the latest blow dealt on Ripple.
In a tweet posted by OSL, said the suspension of RIpple is effective immediately and until further notice.
“In light of US Securities & Exchange Commission’s enforcement action against Ripple Labs & 2 of its executives, we have suspended all #XRP payment in and trading services on the OSL platform, effective immediately and until further notice.”
Coin Desk had earlier reported that many cryptocurrency exchanges would be forced to delist XRP from its platform if the SEC eventually wins the case against Ripple by proving that XRP is indeed a security.