Singapore-based crypto exchange BitBox has announced it will delist Ripple (XRP). What prompted this decision, and might it negatively affect the token’s market performance?
Image by Miloslav Hamřík from Pixabay
The Story So Far
BitBox launched in 2018 and is owned by LINE, one of Japan’s largest messaging and social platforms. The exchange has confirmed it will remove XRP from its list of tradable assets effective January 16.
The exchange’s notice also states that all trading pairs involving Ripple will be removed, including XRP/BTC, XRP/ETH and XRP/USDT.
BitBox advises clients to cancel open orders for XRP before the delisting date. After the asset is removed from trading, users will have until February 16 to withdraw any remaining XRP balances.
How Is XRP Performing?
Ripple began the year strongly and remains the third-largest cryptocurrency by market capitalization, with figures around $9.4 billion. In the early part of the year it outperformed many altcoins and even saw periods of stronger movement relative to Bitcoin.
However, XRP’s recent history has been mixed. Throughout 2019 and beyond the token faced regulatory scrutiny in the United States over whether it should be classified as a security. Meanwhile, regulators in the UK have treated it more like an exchange or utility token, creating differing outcomes across jurisdictions.
Another persistent concern among market participants is the sale of large XRP holdings by company executives and affiliated entities. Large, periodic sales have been flagged by the community as a factor that can pressure price and create uncertainty. Ripple’s CEO Brad Garlinghouse has previously said the company does not seek to control XRP’s market price via large-scale sales.
Why Did BitBox Decide to Delist Ripple?
BitBox’s statement explains that the platform continuously monitors all listed assets and will delist tokens that do not meet its standards for performance, reliability, liquidity or compliance with legal and regulatory requirements.
Trading volume considerations likely played a role: XRP-related trades account for only a tiny fraction of BitBox’s activity—reports cite roughly 0.02% of overall volume. Low volume and liquidity concerns are common reasons exchanges remove markets that are not economically viable to support.
While the delisting may have a localized impact on XRP trading in Asia, it is unlikely to significantly shift the token’s global market dynamics on its own. That said, XRP faces broader challenges—ongoing regulatory questions, market sentiment around token sales by insiders, and liquidity considerations—that investors will continue to monitor in the coming weeks.