Ripple Wins, A Number of Crypto Exchanges Start Relisting XRP

Ripple won, XRP relisting on a number of crypto exchanges. (Photo; Doc. Investing)

JAKARTA - XRP, a crypto coin associated with payment company Ripple Labs, has regained its place on leading crypto exchanges after experiencing difficult times due to the SEC lawsuit. The coin has been re-listed on CEX.IO, one of the world's oldest and largest crypto exchanges, after an absence of almost two years. This move is expected to increase the demand and price of XRP, as well as expand its reach and use.

CEX.IO, a platform that provides crypto services to United States customers, announced the relisting of XRP on Wednesday via social media X. "Enjoy complete Buy, Sell, Convert, Deposit and Withdraw services for Ripple (XRP) across the product ecosystem us," wrote the crypto exchange. CEX.IO added that XRP is one of the most popular and innovative crypto coins on the market, with transaction speed and low fees.

CEX.IO is not alone in relisting or relisting XRP. Several other major crypto exchanges, such as Coinbase, Gemini, Kraken, Binance.US, and Crypto.com, have also returned the coin to their platforms after Ripple managed to win a number of important rulings in its lawsuit with the SEC. The SEC claims that XRP is an unregistered security, and is suing Ripple and two of its executives, Brad Garlinghouse and Chris Larsen, for allegedly illegal sales of XRP worth $1.3 billion or the equivalent of IDR 20.2 trillion.

However, Judge Analisa Torres, who handled the case, rejected the SEC's claims and stated that XRP was not a security, but a legal digital asset. This decision gave legitimacy and trust to XRP, and made many crypto exchanges that had previously removed the coin from their listings change their minds. Binance.US, for example, recognizes that XRP has tremendous capacity to facilitate fast, low-friction value transfers, as well as provide solutions for institutions for cross-border transactions.

XRP has several excellent features that make it stand out among other crypto coins. One of them is its ability to facilitate cross-border settlements at lower costs than traditional methods. This feature has made XRP a top choice for many projects and protocols focused on global payments. As a result, this has also had a positive impact on the price of XRP, which is currently trading at $0.6379 (equivalent to IDR 9,931) per coin.

XRP has been going through tough times since the SEC filed legal action against Ripple in December 2020. Many crypto protocols and exchanges removed XRP from their platforms fearing legal consequences. Some of them are Coinbase, Kraken, and Newton, a Canadian digital asset exchange. However, since Judge Torres' decision on July 13 2023, XRP has been listed again on a number of crypto exchanges.