In a move that took the crypto world by surprise this morning, Coinbase announced that it would be excluding four tokens from its wallet app. The removal of securities will see Coinbase ousts XRP from wallet.
XRP History Repeats Itself
 On December 28, 2020, Coinbase delisted XRP suspending their trading pairs, placing them into limit with the full suspension playing out on January 19, 2021. The action came after the SEC filed a lawsuit against Ripple Labs. Despite the trading suspension, wallet access was given to XRP holders for deposits, withdrawals, and Spark airdrops.
Earlier today, history repeated itself when Coinbase announced they were delisting four native coins from their CoinBase Wallet on January 5, 2023. As of the January date, Coinbase ousts XRP from its wallet along with ETC (Ethereum Classic), BCH (Bitcoin Cash), Â and XLM (Stellar.)Â The delisting of the four tokens results from their “low usage.” After January 5, user can withdraw their tokens using a recovery phrase.
SEC Targets Ripple Labs
 Ripple Labs is the target of an SEC investigation accusing them of non-registration of $1.4 million in XRP tokens that started in 2020. Ripple Labs vehemently denies the allegations. Brad Garlinghouse, CEO of Ripple, has accused the US Regulatory Commission of “unfriendliness.” He has stated that if Ripple should lose the lawsuit, Ripple Labs will move to a friendlier jurisdiction.
Through all this, XRP remains the 7th largest cryptocurrency with a market cap near $19.55 billion. In the last few days, XRP has increased by 0.87% to its current price of $0.389. XRP has decreased by 60% in the last year despite these stats. There are currently 45,404 billion XRP tokens in circulation out of 100 billion existing tokens.
Coinbase Sides With Ripple Labs
 On October 31, in an act of solidarity, Coinbase filed an amicus brief on behalf of Ripple Labs, petitioning the court to let a jury hear the XRP case. In light of the filing, the news that Coinbase ousts XRP from its wallet caught most crypto enthusiasts off guard.
Coinbase, one of the larger, secure online platforms, allows users to store, transfer, buy and sell crypto through its exchange. Their announcement of delisting the four tokens comes as the crypto world faces multiple collapses resulting in bankruptcy. As most businesses do in uncertain times, Coinbase is divesting itself of products that are not creating income. A mainstay in the world of investing!
Looking To The Future
 While the crypto world has faced some harsh realities in the last few weeks, it has seen growth in other areas. As companies reorganize and shake out the dust from the recent collapses, Coinbase is taking steps to remain a crypto platform leader.
XRP’s future is somewhat in question while the SEC decides its fate, though Brad Garlinghouse is hell-bent on taking Ripple Labs into the next decade. Whether he will do it in the US or abroad has yet to be seen!
