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14 exchanges delisted Grayscale and reduced its holdings Ripple

Date:2024-04-25 18:59:47 Channel:Trade Read:
In the world of cryptocurrency, Ripple has always been in the spotlight. Recently, Ripple has once again become the focus as 14 exchanges delisted Grayscale’s holdings. Faced with this challenge, how will Ripple stick to its operations in the US market? Let us uncover the truth of this incident together.
Ripple has been generating buzz around the world with its unique blockchain technology and digital currency XRP. However, the recent news has surprised people - 14 exchanges have successively delisted Ripple's gray holdings. This move immediately caused a shock in the market, and investors were talking about it. In this cryptocurrency world full of variables, how will Ripple respond to this challenge?
First, we need to understand the background of this incident. Grayscale's holding reduction has always been regarded as an important part of Ripple. Through holding reduction, it stabilizes the market and increases the value of XRP. However, the collective delisting of 14 exchanges frustrated this plan. There may be deeper reasons for this, perhaps changes in the market environment or adjustments in regulatory policies. Whatever the reason, Ripple will face new challenges.
Secondly, we need to explore Ripple’s operations in the US market. As a US-based company, Ripple has been working hard to gain a foothold in the US market. Faced with this challenge, Ripple needs to formulate strategies more prudently and strengthen communication with regulatory agencies to ensure its compliance and sustainable development. Only by maintaining good relationships with regulatory agencies can Ripple continue to develop in the US market and win the trust of more investors.
In addition, we also need to pay attention to the future development direction of Ripple. In this highly competitive cryptocurrency market, Ripple needs to continue to innovate and expand its business areas to maintain its competitive advantage. By cooperating with all parties to promote the application of blockchain technology, Ripple is expected to achieve greater success in the future.
To sum up, the delisting of Grayscale by 14 exchanges is only a short-term bump in Ripple’s development path, not the end. As a company with great ambitions, Ripple will continue to stick to the US market and keep moving forward. Challenges certainly exist, but it is challenges that make Ripple stronger and more dynamic. Let us look forward to Ripple writing its own glorious chapter in its future development.

The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

The United States (. US) announced earlier today (31) that starting from January 13 next year, American users will no longer be able to buy and sell Ripple (XRP). Last week, the U.S. Securities and Exchange Commission (SEC) formally sued blockchain payment company Ripple
Labs, which identified Ripple as a security, accused the company of violating securities laws by using Ripple to make $1.3 billion without registering for securities issuance.

Subsequently, many cryptocurrency service providers are also eager to cut off the market. Three small exchanges, OSL, Beaxy and CrossTower, have decided to delist and suspend trading of Ripple; Chicago high-frequency trader Jump
Trading and cryptocurrency investment company Galaxy Digital have stopped making markets for Ripple; the crypto index fund of asset management company Bitwise has even cleared out Ripple.

Coupled with the fact that Coinbase, OKCoin, and Bitrrex have also recently begun to follow suit, a total of 13 companies have removed Ripple from their shelves so far, causing the currency price to fall for days, from a high of $0.37 during the Christmas weekend to only $0.21 currently. A single-month decline of 67%.

However, the blows faced by Ripple seem to be more than that. Data from the cryptocurrency futures trading platform Bybt shows that the holdings of digital asset management company Grayscale’s Ripple (XRP) dropped sharply on December 29, with the reduction exceeding 9.18 million pieces, with the current total holdings reaching 26.45 million pieces, worth US$5.77 million as of press time.

However, public information shows that the Ripple trust shares held by Grayscale cannot be bought and sold through the OTC market, so it is possible that only investors are redeeming them, resulting in a decrease in Ripple holdings.

In response, Ripple said in a statement yesterday (30th) that it would respond to the "unsubstantiated accusations" from the U.S. Securities and Exchange Commission (SEC) in the short term and urged market participants to proceed before hearing Ripple's statement. Never draw any conclusions about "Is Ripple still safe?"

Meanwhile, Ripple
It said that the current legal dispute will not affect the company's ability to operate in the United States, so it will stick to the U.S. market and continue to provide products to American citizens. The company made it clear that most of XRP’s trading volume comes from outside the United States, where it is better regulated in places like Singapore and Japan.

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