XRP is currently facing some trouble as the BitBox exchange has announced plans to delist the asset. The crypto exchange, run by the Singaporean messaging company Line, has explained its decision.
The announcement says that the exchange has strict standards and will remove any assets that do not keep up.
“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. “
However, BitBox says that delisting is not immediate and due notice will always be given.
“To protect your assets and interest, we provide sufficient notice before delisting.”
The announcement states that on Thursday, January 16, at 23:59:59 (UTC), XRP and all of its pairs will be unavailable. Currently, XRP is paired on the exchange with three assets including Bitcoin (BTC), Ether (ETH) and USDT. This means that deposits and trades will be impossible and any orders that are yet to be filled will be canceled automatically.
Also, the exchange says that a grace period of one month will be allowed after the delisting. By Sunday, February 16 at 23:59:59 (UTC), any XRP that has not been withdrawn in that period will be lost.
The line has its own cryptocurrency, LINK, which launched in September 2018.