- BitBuy, a prominent Canadian platform, quietly relists XRP, becoming the second exchange to reintroduce support for the asset.
- The relisting has generated positive reactions from the XRP community, fueling speculation about the upcoming Ripple vs. SEC ruling.
XRP Relisted on BitBuy Exchange, Boosting Community Sentiment
As the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) approaches its conclusion, the XRP community has been actively advocating for the relisting of XRP on platforms that previously delisted the token. BitBuy, a leading Canadian exchange, has recently made a significant move by relisting XRP, following in the footsteps of Newton, another Canadian platform that relisted the asset in November 2022.
Although BitBuy’s initial decision to delist XRP over two years ago came with an official announcement, the relisting occurred more quietly. It was first brought to attention by Mason Versluis, an influential member of the XRP community and the founder of Gold Squad. Upon investigation, it became evident that BitBuy now supports XRP, with trading features reinstated on their mobile app. Additionally, BitBuy updated its legal Crypto Assets Statement to reflect its renewed support for XRP trading.
The relisting of XRP on BitBuy has garnered positive reactions from XRP proponents, especially those based in Canada, who have successfully purchased the token on the platform. This move signifies a potential shift in sentiment and hints at the exchange’s anticipation of the upcoming Ripple vs. SEC ruling.
Speculations about the conclusion of the Ripple case have been growing, as previous predictions regarding the ruling’s end date failed to materialize. However, prominent attorney John Deaton and Ripple’s Chief Technology Officer, David Schwartz, have reassured the community that the delay is not unprecedented and that a ruling could potentially be reached by September.
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While BitBuy’s relisting of XRP is a positive development, the XRP community’s focus remains on Coinbase, the largest exchange in the United States. Despite agreements with Deaton’s arguments in the SEC lawsuit, Coinbase has not indicated plans to automatically relist XRP even if the final ruling favors Ripple. Coinbase has emphasized the need for a thorough evaluation of the situation before making any decisions. In contrast, Uphold, another platform, continues to support XRP.
In another intriguing turn of events, the Poloniex crypto exchange experienced a temporary glitch that caused the price of XRP against the US dollar to plummet to zero on July 10. However, this unusual price action was specific to the XRP/USD pair on Poloniex, as other major exchanges, including Binance, continued to trade XRP at prices above $0.45. Such incidents highlight the volatility and occasional anomalies in the cryptocurrency market.
Overall, the relisting of XRP on BitBuy and the glitches on Poloniex have contributed to a dynamic landscape for Ripple’s token. As the community eagerly awaits the Ripple vs. SEC ruling, XRP continues to garner attention and trade on various exchanges, with high volumes recorded on platforms like Binance and Kucoin. Despite recent price fluctuations, the anticipation of a favorable outcome in the lawsuit has sustained community interest in XRP.
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