Cryptocurrency XRP slumped by 16 percent on Tuesday after major U.S. virtual coin exchange Coinbase said it would suspend trading in the digital currency. XRP, the third-biggest cryptocurrency, fell to an intra-day low of US$0.21, Reuters reports. California-based Coinbase said on Monday it would suspend trading in XRP after the U.S. Securities and Exchange Commission last week charged associated blockchain firm, Ripple, with conducting a US$1.3 billion unregistered securities offering. Ripple has rejected the charges, saying XRP is a currency and does not need to be registered as an investment contract.

Source: The Standard December 29, 2020 11:15 UTC