Another win for the XRP ecosystem is being celebrated as the coin, which is closely affiliated with crypto payment company Ripple Labs Inc, has been relisted on the top cryptocurrency exchange CEX.IO after almost two years of taking a break.
Celebrating Multiple Relisting
The news was made public on Wednesday by the crypto firm emphasizing that the relisting was directed toward satisfying its United States customers.
“Enjoy complete Buy, Sell, Convert, Deposit, and Withdrawal services for Ripple (XRP) across our product ecosystem,” CEX.IO posted on the X app.
Relisting XRP has been the trend amongst many cryptocurrency exchanges, especially those who removed the coin from their platform at the sign of “trouble.” In mid-July, Coinbase, Gemini, Kraken, Binance.US, and Crypto.com relisted XRP after Ripple bagged a partial victory in its lawsuit with the SEC.
While relisting the coin, Binance.US acknowledged the outstanding capacity of XRP, citing that it aims to “facilitate fast and low-friction value transfers, providing institutions with a solution for cross-border transactions.”
XRP is recognized for some of its core features including its potential to facilitate cross-border settlements more cheaply. This capability has made it the top choice for many projects and protocols. Consequently, this has triggered the XRP price to significant levels. At the time of this writing, XRP was trading at $0.6379.
Prior Justification for Delisting XRP
Since XRP’s major comeback as a result of Judge Analisa Torres’ ruling that the coin is not securities as touted by the SEC, there have been some outstanding achievements in the ecosystem. Many protocols and exchanges delisted the XRP token in 2021 following the enforcement action brought against it by the U.S. regulator in December 2020.
American cryptocurrency exchanges Coinbase and Kraken were some of the firms that delisted the coin immediately after the U.S. SEC announced its legal actions against Ripple and its executives Brad Garlinghouse and Chris Larsen. Newton, a Canadian digital asset exchange also made similar changes to its crypto list, leaving XRP out.
A number of these crypto-inclined companies cited regulatory and legal concerns as the reasons behind the delisting move. However, the July 13th ruling has been pivotal to the trajectory of the Ripple-affiliated currency in recent months.
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from CoinGape