Revolut cautions customers for XRP holdings, says the prices will plummet drastically

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Revolut warns that cryptocurrency XRP could become worthless
  • XRP, the third largest cryptocurrency in the world will become worthless in near future as was speculated by Revolut. The company cautions all its customers to keep a check on buying and selling of XRP
  • Revolut sent a note to the customers describing that while it is still possible to buy and sell XRP on their platform, there are some exchanges that have started delisting the cryptocurrency
  • The company has also said in a statement that the holders of the XRP should constantly reassess their crypto holdings and whether they will remain comfortable with the associated risks

XRP, the third largest cryptocurrency in the world will become worthless in near future as was speculated by Revolut

The company cautions all its customers to keep a check on buying and selling of XRP.

Revolut has informed its customers that the third largest cryptocurrency by market value, XRP could become worthless in the near future. The company sent a note to its customers two weeks after the US Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple. The firm was charged with selling unregistered securities worth $1.3 billion.

Since the news broke out against XRP, the prices of the coin has plummeted manifold in the market. Many exchanges have also stopped dealing in XRP. There was a time when XRP was in a run with BTC and rocketed sky high in November 2020 since 2018. 

However, the coin has lost more than half of its value now while bitcoin hit an all-time high of above $34,600 in last week. This steep in the price was recorded at a time when the flagship cryptocurrency marked the 12th anniversary of its creation. 

On Tuesday XRP was trading at a low of $0.25 a low from a close of $0.55. 

The company cautions all its customers to keep a check on buying and selling of XRP

Warning for customers

Cautioning their customers about XRP trading, Revolut sent a note to the customers describing that while it is still possible to buy and sell XRP on their platform, there are some exchanges that have started delisting the cryptocurrency. 

The company in a note mentions that since the price of XRP is fluctuating and that if any of its companions determine to delist the coin, then the enterprise would possibly do the same. They can also halt the buying and selling of XRP with little or no word if the liquidity at the partner exchanges drops.

This means that the customers dealing in XRP would not be able to buy or sell balance. The customers might have to hold the coin for which the price could drop to zero. 

To top it all, fintech does not allow the customers to withdraw their XRP balance to an external wallet. Although they speculate that an advance notice would be sent to the customers if they had to suspend the trading of the currency. 

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