After a gap of two years, Ripple’s XRP has been re-listed on CEX.io, one of the oldest cryptocurrency exchanges.
CEX.io users can now buy, sell, convert and withdraw XRP within the exchange’s product ecosystem. The exchange is the latest exchange to re-list XRP in 2023, and according to the firm, the purpose of the re-listing was to satisfy its US clients.
This news comes months after Ripple won a major victory against the SEC, most importantly after the judge ruled that XRP was not considered a security (when trading on secondary markets).
$XRP came back!
🇺🇸 Ripple (XRP) is once again available to our US-based users.
Enjoy complete buying, selling, conversion, deposit and withdrawal services for Ripple (XRP) across our product ecosystem.
– CEX.IO (@cex_io) 15 November 2023
Exchanges re-list XRP after two-year legal battle with SEC
After Ripple was sued by the SEC in late 2020, several major crypto exchanges delisted the coin in early 2021, as being available for trading could mean risk for these platforms as they have to deal with regulatory laws. will be. That said, exchanges like Coinbase, Kraken and Canadian platform Newton removed XRP from their listings, citing regulatory and legal concerns.
However, the landscape changed dramatically for XRP with Judge Analisa Torres’ ruling that the coin is not a security (when sold in secondary markets), as the SEC has claimed.
The decision proved to be a watershed moment for XRP as it paved the way for its reinstatement on major cryptocurrency exchanges, signaling a broader resurgence in the
Current status of Ripple and XRP
XRP experienced significant growth over the past 30 days, but its rally stalled after rumors of a fake XRP ETF spread on social media. As CryptoPotato reported, a spokesperson for the company abruptly rejected the fake BlackRock iShares XRP trust filing.
The price dropped 12% shortly after the fake report. According According to a pro-Ripple lawyer, these types of fake news are scams that individuals can perpetrate by paying $500.
The Ripple vs. SEC legal battle is set for a grand trial next spring, with Ripple currently in an advantageous position after securing three partial court victories. Experts have predicted a decisive victory for Ripple in 2024, anticipating a potential XRP price rally and an increase in enthusiasm for the cryptocurrency sector.
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