BitBox, a cryptocurrency exchange based in Singapore, recently announced that it plans to delist XRP on Jan. 16.  The news was shared on Monday, Jan. 6 when the exchange publicly released the information on its official blog.

Several users have received an email from the exchange notifying them of the event.

“We keep a constant watch on all coins that are being traded on BITBOX. If a coin does not meet our standards based on its performance, reliability, liquidity, or law and regulatory requirements, it will be delisted from our exchange. To protect your assets and interests, we provide sufficient notice before delisting.”

Aside from delisting the asset, three related trading pairs will also be removed, including XRP/BTC, XRP/ETH, and XRP/USDT. The exchange recommends that their users cancel all XRP trades and to withdraw their assets on time. BitBox stated that users would be able to withdraw XRP until Feb. 16.

XRP delisting lacks official explanation

At the time of writing, BitBox gave no explanation regarding the delisting decision. However, official exchange data shows that the asset’s trading volume accounted for only 0.02% of all exchange volume.

In 2018, the Japanese social messaging giant LINE created its very first cryptocurrency exchange named BitBox. While the United States and Japan were initially restricted from trading on the platform, BitBox gained an operating license from Japan’s domestic financial regulator.

As CryptoPythia reported yesterday on Jan. 6, the price of XRP surged by 10% after an interview between CNN and Ripple CEO Brad Garlinghouse. During the interview, the CEO state that Ripple cannot control the price of the digital asset and that they are not capable of manipulation similar to Bitcoin whales. Moreover, Garlinghouse added that Ripple is the most interested party when it comes to the success of the asset’s ecosystem.

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