Update to all XRP Holders

December 29, 2020

As an Alto CryptoIRA account holder, we wanted to relay an announcement from Paul Grewal, Chief Legal Officer at Coinbase, concerning the suspension of trading XRP on the Coinbase platform on January 19, 2021, which can be viewed here in full. 

Coinbase announced that, in light of the SEC’s lawsuit against Ripple Labs, Inc, Coinbase will be suspending XRP trading via the Coinbase exchange. Trading moved to limit orders only as of December 28, 2020 at 2:30 PM PST, and will be fully suspended on Tuesday, January 19, 2021 at 10 AM PST. Coinbase has specified trading may be halted earlier as needed to maintain market health metrics.

The trading suspension will not affect your ability to hold XRP within your CryptoIRA at this time and customers will remain eligible for the previously announced Spark airdrop. However, there can be no guarantee account holders will be able to liquidate a position if trading is halted due to recent news events, unusual trading activity, or changes in the underlying digital asset framework. 

Coinbase will provide additional updates, if any, through the Coinbase Support Twitter account (@CoinbaseSupport). Alto will endeavor to share additional updates as Coinbase makes new information public, including any changes to the timing mentioned above.  We remind account holders that all Alto CryptoIRAs are self-directed and Alto does not provide investment or trading advice regarding any account or asset.