Binance, a popular cryptocurrency exchange, has announced the delisting of its XRP leveraged tokens in response to the ongoing lawsuit between Binance and Ripple, both accused by the SEC of securities law violations. The delisted tokens will no longer be accessible on the platform, and users are advised to redeem them before July 25. If users choose to retain their tokens after delisting, Binance will convert them into Tether’s USDT stablecoin. This decision further adds to the uncertainties surrounding the future of XRP, as the lawsuits have impacted its price, which has remained stagnant in recent weeks. Despite this, some institutional investors have taken long positions in XRP. Binance previously eliminated 21 spot trade pairs from the market, including several cryptocurrencies paired with the Australian dollar.

AI Sentiment: Negative