As the year started, XRP was worth approximately $0.21 for the cryptocurrency in the middle of an action brought against Ripple Labs by the United States Securities and Exchange Committee. Since then, however, the crypto walk has been exponential and the altcoin has long since climbed to levels unnoticed.
Indeed, the #RelistXRP movement seems to be being replenished, with the same now revitalized behind the Altcoin’s Phemex, based in Singapore.
The exchange announced yesterday, citing ‘common requirements’ the relay of XRP, followed by the listings of the following names like BAT, SUSHI, SNX and MKR. Phemex was one of several crypto-bonds to suspend the XRP trade back in New Year’s Eve. Phemex said at the point,
Strangely, Phemex is not the first XRP trading exchange. Back in March, Lykke, based in Switzerland, also said it was “thrilled to relist XRP.”
What is the meaning of these developments? More specifically, are these changes indicative of potential relief?
First of all, why such relists were made in the first place is worth acknowledging. Yes, ‘public demand’ played a role, but more than anything, the aforementioned proceedings have shown positive legal developments. Indeed, such a promising fact has been the fact that many people in the group now expect SEC to come and settle with Ripple and its executes.
What helped the price rallying of XRP? Well, optimistic changes in the case can be argued that have helped recover the cryptograph in the charts. The effect of these legal changes is not, however, limited exclusively to price. Indeed, the #RelistXRP movement is also replenished by the revitalization of the same