Revolut monitors XRP situation closely
Revolut is keeping a close eye on the situation around XRP crypto, following the recent action by the United States Securities and Exchange Commission (SEC) against Ripple Labs and the decisions by some companies to delist XRP.
Currently, one can still buy and sell XRP on Revolut, but Revolut notes that some exchanges have started to delist XRP and that it is monitoring this situation closely.
For the time being, Revolut’s partner exchanges continue to list XRP so traders can still buy and sell XRP through their Revolut account. However, the situation is evolving quickly, and the price of XRP is very volatile.
Revolut warns:
“If XRP was to be delisted by all of our partner exchanges, it’s likely that we would have to delist XRP as well. We might also have to halt trading with very little notice if the liquidity on our partner exchanges drops and we can no longer buy or sell XRP”.
This would mean traders might not be able to sell their XRP balance and could be stuck with a holding for which the price could drop to zero, in a worst case scenario. Revolut does not currently offer a service to allow traders to withdraw their XRP balance to an external wallet.
The company reminds traders of the risks associated with buying and selling cryptocurrencies. Let’s also note that Revolut’s cryptocurrency service is unregulated.
Let’s recall that, less than a fortnight ago, online trading company eToro announced the suspension of XRP trading in the US, beginning January 3, 2021.