CEX.IO Relists XRP
A prominent cryptocurrency exchange, CEX.IO, has recently announced that it has relisted the native token of the XRP Ledger, XRP, after initially delisting it in response to the U.S. Securities and Exchange Commission’s lawsuit against Ripple. The court’s decision determined that Ripple’s sales of XRP did not constitute an offer of investment contracts and that XRP wasn’t a security when sold on the secondary market.
XRP’s Surge and Regulatory Risks
The listing of XRP comes as the cryptocurrency has experienced significant growth, with its price surging over 26% in the past month and over 85% so far this year. Following the SEC’s lawsuit against Ripple, various major crypto exchanges dropped XRP from their platforms due to legal and regulatory concerns.
XRP’s Dramatic Shift
However, Judge Analisa Torres’ ruling that XRP is not a security when sold on secondary markets marked a turning point for XRP, leading to its relisting on prominent cryptocurrency exchanges. Additionally, recent victories for Ripple in court have resulted in a significant increase in XRP’s value.
Historical Price Data and Future Outlook
Historical data shows that November has historically been unprofitable for XRP, except for 2020 when it saw a significant 178.3% gain.
Hot Take: Ripple’s Legal Victories Lead to Positive Momentum for XRP
Ripple’s recent legal victories have led to positive momentum for XRP, with major cryptocurrency exchanges relisting the digital asset after previously delisting it due to regulatory concerns. The surge in XRP’s price following these developments suggests renewed confidence in the cryptocurrency, potentially signaling a bullish trend for its future performance.
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