Home Altcoins News BitBuy Quietly Reintroduces XRP Trading, Joining the Growing List of Canadian Exchanges

BitBuy Quietly Reintroduces XRP Trading, Joining the Growing List of Canadian Exchanges

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BitBuy, a regulated crypto marketplace in Canada, has discreetly reintroduced XRP trading on its platform. This marks the second Canadian exchange to relist XRP after its initial delisting due to the lawsuit filed against Ripple by the US Securities and Exchange Commission (SEC) in 2020. The decision to relist XRP without a public announcement comes as a significant victory for the XRP community, which has persistently supported Ripple throughout the legal battle. While BitBuy’s move has generated excitement among Canadian XRP enthusiasts, it also raises speculation about the potential relisting of XRP on other major exchanges, such as Coinbase. As the final ruling in the SEC vs. Ripple lawsuit approaches, the crypto community eagerly awaits further developments.

BitBuy, a regulated cryptocurrency trading platform in Canada, has quietly reinstated support for XRP trading. This surprising move marks a significant shift in BitBuy’s position on XRP, as the platform had previously delisted the cryptocurrency amid the legal battle between Ripple and the SEC. The decision to relist XRP without a public announcement has garnered attention within the crypto community.

The XRP community, known for its unwavering support of Ripple, has been advocating for XRP’s relisting on platforms that delisted the cryptocurrency due to the SEC lawsuit. BitBuy’s decision to reintroduce XRP trading is seen as a victory for these supporters, demonstrating growing confidence in XRP’s legal standing.

Canadian XRP enthusiasts have responded positively to BitBuy’s relisting, with users reporting successful XRP transactions on the platform. This development follows the relisting of XRP on another Canadian exchange, Newton, in November 2022.

BitBuy’s decision to relist XRP has ignited speculation and discussion within the crypto sphere, particularly regarding the potential relisting of XRP on major exchanges like Coinbase. While the final ruling in the SEC vs. Ripple lawsuit is impending, the crypto community eagerly awaits the outcome and its implications for XRP’s relisting prospects.

Coinbase, one of the largest US-based exchanges, has yet to announce any plans to relist XRP. Despite calls from the XRP community, Coinbase’s Chief Legal Officer, Paul Grewal, recently stated that the exchange would not automatically relist XRP even if the court ruling favors Ripple. Grewal emphasized the need for reassessment based on the prevailing circumstances.

Throughout the legal battle, Uphold, another cryptocurrency platform, has maintained its support for XRP, offering continuity to XRP holders and traders. Uphold’s unwavering commitment to XRP serves as an example of platform loyalty amid the ongoing legal uncertainty.

As the SEC vs. Ripple lawsuit nears its conclusion, the relisting of XRP on BitBuy has generated excitement and anticipation among the XRP community. The outcome of the lawsuit and the subsequent actions of major exchanges will undoubtedly shape the future of XRP and its availability for trading.

BitBuy’s decision to reintroduce XRP trading signifies a shift in the regulatory landscape and highlights the growing confidence in XRP’s legal status. The platform, as a regulated crypto marketplace, likely conducted a thorough review of the legal and regulatory environment surrounding XRP before relisting the cryptocurrency.

The relisting of XRP on BitBuy is a significant development for the XRP community. It provides XRP holders and traders in Canada with another avenue to engage with the digital asset, fostering a more diverse and inclusive ecosystem. Moreover, the relisting offers an opportunity for Canadian investors to benefit from the potential future growth of XRP.

The move by BitBuy follows a similar decision by Newton, another Canadian exchange that relisted XRP in November 2022. These relistings demonstrate a positive trend in the Canadian crypto market, where exchanges are willing to revisit their position on XRP after regulatory clarity and developments in the SEC vs. Ripple lawsuit.

While BitBuy’s relisting is undoubtedly encouraging for XRP proponents, the attention now turns to major US-based exchanges, particularly Coinbase. The XRP community has long called for Coinbase to relist XRP, and the outcome of the SEC vs. Ripple lawsuit could influence the exchange’s decision. However, Coinbase’s Chief Legal Officer has made it clear that any potential relisting of XRP would require a reassessment based on the prevailing circumstances.

The relisting of XRP on BitBuy also raises questions about the future direction of XRP’s market performance. The reintroduction of XRP on multiple exchanges could contribute to increased liquidity and trading volume, potentially impacting the price of XRP. As the SEC vs. Ripple lawsuit nears its conclusion, the market will closely monitor the outcome and its potential implications for XRP’s relisting on major exchanges.

BitBuy’s quiet relisting of XRP has brought renewed optimism to the XRP community in Canada. The decision reflects growing confidence in the legal standing of XRP and provides Canadian investors with another platform to engage with the digital asset. While speculation continues regarding the potential relisting of XRP on major exchanges like Coinbase, the outcome of the SEC vs. Ripple lawsuit will likely influence future decisions.

As the crypto industry evolves, regulatory clarity and market developments play a crucial role in shaping the relisting decisions of exchanges. The relisting of XRP on BitBuy and Newton demonstrates the potential for platforms to reconsider their positions and adapt to changing legal and regulatory landscapes.

The relisting of XRP on BitBuy and its implications for the XRP market highlight the importance of ongoing legal proceedings and regulatory clarity in the cryptocurrency space. The final ruling in the SEC vs. Ripple lawsuit will undoubtedly have a significant impact on the future of XRP and its availability for trading on major exchanges.

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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