The cryptocurrency exchange CEX.IO has announced that after nearly two years, it will be relisting XRP trading on its platform. This marks a major comeback for XRP, which was delisted from many top exchanges starting in late 2020 after the SEC filed a lawsuit against Ripple Labs, alleging that XRP is an unregistered security.
CEX.IO’s decision comes on the heels of Ripple’s recent partial legal victory against the SEC in July. In her ruling, Judge Analisa Torres rejected the SEC’s argument that XRP is a security. This provided much-needed regulatory clarity and opened the door for exchanges to relist XRP without as much legal uncertainty.
In the wake of the judge’s decision, major exchanges like oinbase">Coinbase, Gemini, Kraken, Binance.US, and Crypto.com have also relisted XRP trading. CEX.IO’s addition is another significant win for the XRP ecosystem and investor community, which was negatively impacted by the widespread delistings in 2020. At the time, exchanges like oinbase">Coinbase cited regulatory concerns and the SEC lawsuit as reasons for dropping XRP.
With CEX.IO, XRP investors will now have access to full trading services like buying, selling, converting, depositing, and withdrawing the cryptocurrency. The relisting momentum has also buoyed the price of XRP, which currently sits around $0.63, showcasing renewed interest.
The judge’s ruling was a pivotal moment for XRP, finally providing some legal clarity and rejecting the SEC’s characterization of it being an unregistered security. With exchanges now relisting XRP, it signals growing confidence in Ripple’s legal position and the coin’s future prospects. CEX.IO’s decision demonstrates the continued resurgence of XRP after its delisting woes in 2020.
