Singapore-based cryptocurrency exchange BITBOX, operated by LINE, has announced it will delist Ripple (XRP) effective January 16th. The decision follows an official notice published on January 6th, citing the token’s failure to meet the platform’s performance, security, and liquidity benchmarks.
Key Details of the Delisting
Delisting Timeline:
- XRP trading pairs (XRP/BTC, XRP/ETH, XRP/USDT) will be suspended at 23:59:59 UTC on January 16.
- Users must cancel all pending XRP orders before this deadline.
- Withdrawals will remain available until February 16th.
BITBOX’s Statement:
"We continuously monitor all listed assets. Tokens that no longer meet our standards for performance, security, or liquidity are subject to removal. This process ensures transparency and protects user assets."
Impact on Traders:
- XRP trading volume on BITBOX accounted for just 0.02% of the exchange’s total activity (per CoinMarketCap data).
- Ripple’s market capitalization ($9.4 billion) makes it the third-largest cryptocurrency at the time of delisting.
Unanswered Questions
- Reason for Delisting: BITBOX has not clarified specific metrics XRP failed to meet.
- Ripple’s Response: CEO Brad Garlinghouse previously defended XRP’s sales as necessary for "expanding utility," noting its inflation rate was lower than Bitcoin and Ethereum.
Frequently Asked Questions (FAQ)
Q1: Can I still withdraw XRP after delisting?
A: Yes, withdrawals will be supported until February 16th.
Q2: Will BITBOX delist other tokens soon?
A: The exchange regularly reviews listed assets but has not announced further delistings.
Q3: Where can I trade XRP after January 16th?
A: Major exchanges like 👉 Binance and 👉 Coinbase continue to support XRP trading.
Broader Context
- BITBOX, launched in 2018 by LINE, initially targeted non-U.S./Japan markets but expanded after securing a Japanese crypto license in 2020.
- Ripple faces ongoing scrutiny over XRP’s centralization and sales practices, though it remains widely traded globally.
For updates on compliant exchanges, check 👉 this guide.
Final Note: This decision reflects BITBOX’s commitment to maintaining high platform standards, though traders may need to migrate XRP holdings to alternative exchanges. Always conduct due diligence before transferring assets.
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