In a groundbreaking turn of events, several leading US cryptocurrency exchanges, including Coinbase, Gemini, and Kraken, wasted no time in announcing the relisting of XRP following Ripple’s historic win against the U.S. Securities and Exchange Commission (SEC). Joining the rally, Binance.US and Crypto.com have also revealed their plans to relist XRP. As a result, XRP’s price has experienced a staggering surge of 87% in the past 24 hours, signaling a renewed optimism for the cryptocurrency.
Binance.US and Crypto.com Embrace XRP Relisting
On July 14, Binance.US made an official announcement, declaring the relisting of XRP on their cryptocurrency exchange. Deposits for XRP are now live, and trading for the XRP/USDT Advanced Trading pair will commence today at 6 AM PDT / 9 AM EDT. Binance’s US arm took to Twitter to share this exciting news with the wider crypto community, generating anticipation among XRP enthusiasts.
Following suit, Crypto.com has also decided to relist XRP, joining other major exchanges such as Coinbase, Kraken, and Gemini. In a tweet, Crypto.com expressed their enthusiasm, stating that “Fortune has Favored the Brave!” They have made XRP available for trading with various fiat currencies, including USD, EUR, GBP, and more than 20 others. Deposits and withdrawals for XRP are already open, marking a significant step forward for the cryptocurrency.
XRP Price Surges 87% After Ripple’s Legal Victory
The recent ruling by the Southern District Court of New York, affirming that XRP is not a security, caused a momentous surge in XRP’s price. Within hours of the court’s decision, XRP’s price skyrocketed by 60%. The court clarified that Ripple’s programmatic sales of XRP and other distributions did not constitute the sale of investment contracts. However, it emphasized that institutional sales of XRP could be considered investment contracts and may violate securities laws.
Currently trading at $0.78, XRP has experienced a remarkable 87% surge in the past 24 hours. The 24-hour low and high for XRP are $0.47 and $0.88, respectively. Moreover, trading volume has soared by 1700%, and market capitalization has witnessed a substantial 66% increase within 24 hours.
Whale Transactions and XRP Network Activity
Notably, the XRP network has observed its highest number of whale transactions in 2023 by a significant margin. Over the past 24 hours, the XRP Network has registered an impressive 637 whale transactions, each with a value greater than $100,000 and beyond.
The surge in whale activity and the renewed interest in XRP following the legal victory indicate a shift in market sentiment and increased confidence among investors. As the crypto community continues to monitor these developments closely, the relisting of XRP on major exchanges sets the stage for potential growth and revitalization within the cryptocurrency market.
While the relisting of XRP on major exchanges is undoubtedly a positive development for the cryptocurrency, it is important to approach investment decisions with caution and conduct thorough research. The cryptocurrency market is known for its volatility, and prices can fluctuate rapidly. Investors should also consider their risk tolerance and diversify their portfolios to mitigate potential risks.
Furthermore, regulatory developments and legal proceedings surrounding cryptocurrencies can significantly impact their future. Market participants should stay informed about the evolving regulatory landscape and any potential implications for the cryptocurrencies they are interested in.
In conclusion, the relisting of XRP on major US cryptocurrency exchanges, including Coinbase, Gemini, Kraken, Binance.US, and Crypto.com, has sparked renewed optimism for the cryptocurrency. XRP’s price has surged by 87% in the past 24 hours, signaling a significant shift in market sentiment. The legal victory against the SEC has played a crucial role in restoring confidence among investors. However, it is important for individuals to exercise caution, conduct thorough research, and consider their own risk tolerance before making any investment decisions in the cryptocurrency market.
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