BITBOX has announced that they are delisting Ripple (XRP), since Ripple (XRP) apparently no longer meets the BITBOX listing standards despite being the 3rd most popular cryptocurrency with a market cap in excess of $9 billion.
Specifically, BITBOX says “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.”
BITBOX users will have until mid-February to withdraw their Ripple (XRP), although the delisting process will begin on January 16.
There is some speculation that the BITBOX delisting will decrease Ripple (XRP) trading activity in Asia, since BITBOX is owned by LINE, which is the largest social media platform in Japan.
However, BITBOX is a relatively small exchange, with far less than $10 million of trading volume per day. Ripple (XRP) continues to be available on most major crypto exchanges worldwide, and has over $2 billion of trading volume per day.
Further, the negative BITBOX news does not outweigh recent positive development for Ripple (XRP), including TD Ameritrade considering adding Ripple (XRP) to its trading catalog, and Binance adding a leveraged Ripple (XRP) perpetual futures contract.