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XRP Platform Status Update

By iTrustCapitalSeptember 30, 20212 minutes read
XRP Trading on iTrustCapital Platform.png

Availability of Ripple (XRP) on iTrustCapital

Dear XRP Community, 

We have heard your calls to #RelistXRP and understand your frustration. Like many in the cryptocurrency industry, we are actively monitoring developments in the ongoing Security Exchange Commission’s (“SEC”) lawsuit against Ripple Labs, Inc. (“Ripple”). Unfortunately, until there is regulatory clarity in the U.S. regarding the security status of the token, XRP, we do not anticipate supporting transactions of XRP on our platform. 

To best explain, iTrustCapital is not itself an exchange, but rather a self-directed IRA software-based platform. We partner with liquidity providers, which in turn, rely on cryptocurrency exchanges to provide liquidity for all digital assets on our platform.

Currently, the overwhelming majority of U.S. cryptocurrency exchanges have suspended trading of XRP. Therefore, we can’t provide any specific time frame, if any, regarding the support of XRP transactions on our platform.  As a company, our goal is to provide the best client experience while also ensuring compliance with all applicable IRS and SEC laws, rules, and regulations. 

At present, clients may continue to hold their existing XRP in our tax-sheltered IRA accounts. In addition, we also support client transfer deposits and withdrawals or in-kind distributions of their existing XRP holdings.  For additional information, you may also reference our previous company announcements. 

Sincerely, Leadership at iTrustCapital

 Important Note: All investments involve substantial risk of loss.  All trading strategies are used at your own risk and you are responsible for the financial resources you utilize.  If the market moves against you, you may sustain a total loss of the initial amount you allocated to the investment. You should not engage in trading unless you fully understand the nature of the transaction you are entering into and the extent of your exposure to loss.  If you do not fully understand these risks,  you should seek independent advice from your financial advisor.  iTrust is not an investment specialist, tax specialist, financial planner (certified or otherwise), or retirement advisor, and iTrust does not provide investment advice, tax advice, financial planning services, or retirement planning or retirement-specific advice.  iTrust facilitates the purchase of digital currency and precious metals, nothing more, and charges a fee for the service it provides.  All investment decisions are made by iTrust users. Please read the full Risk Disclosure.