BitBuy, Canada’s largest cryptocurrency exchange, has quietly relisted XRP, making it the second exchange to relist the digital asset since the delisting spree initiated by the Ripple-SEC lawsuit.
The move comes as the Ripple vs. SEC court battle nears its conclusion. It should be noted that the XRP community has been campaigning for the relisting of the digital token by various exchanges such as Coinbase.
BREAKING: $XRP has been quietly RELISTED on Canadian exchange @bitbuy 🔥👀 pic.twitter.com/a8REapHETw
— MASON VERSLUIS 🏆🔮 (@MasonVersluis) July 12, 2023
BitBuy listed XRP in March 2019 but delisted it in January 2022 due to its adherence to Canadian regulations. The exchange has since updated its legal Crypto Assets Statement to reflect that it now supports XRP trading.
The relisting of XRP on the Canadian exchange has been met with positive reactions from the XRP community. Some XRP supporters in Canada have confirmed that they have successfully purchased XRP on the platform.
BitBuy’s decision to relist XRP comes amid growing speculation that the final ruling in the Ripple vs. SEC lawsuit is near. Attorney John Deaton recently assured the community that the delay in the ruling is not unprecedented and that there is no cause for alarm.
BitBuy is the second exchange to relist XRP before the Ripple case is resolved. Newton, another Canadian exchange, was the first to relist the asset in November 2022.
The XRP community has primarily focused on Coinbase, the largest cryptocurrency exchange in the United States. The community has repeatedly called on Coinbase to relist XRP. However, the platform has not responded favorably to this demand despite agreeing with Deaton’s argument in the SEC lawsuit.
In March, Coinbase’s Chief Legal Officer, Paul Grewal, disclosed that the exchange would not automatically relist XRP even if the final ruling is in Ripple’s favor. Grewal disclosed that Coinbase would first need to evaluate the situation.
It’s important to note that amid the uncertainty, Uphold has retained support for XRP.
Mixed Reactions to BitBuy’s Relisting of XRP
The relisting of XRP on BitBuy has been met with mixed reactions from the cryptocurrency community. Some XRP supporters have welcomed the move, while others have expressed skepticism.
Those who are supportive of the relisting argue that it is a positive sign for XRP and that it could lead to other exchanges following suit. They also pointed out that the relisting comes amid growing speculation that the final ruling in the Ripple vs. SEC case could be at hand.
However, others have expressed skepticism about the relisting, arguing that it is simply a way for BitBuy to capitalize on the uncertainty surrounding XRP. They also point out that the exchange has not yet announced any plans to list other assets that were delisted due to regulatory concerns.
Ultimately, the impact of the relisting on XRP’s price and adoption remains to be seen. However, it is a significant development that is likely to be closely watched by the crypto community.
In conclusion, the relisting of XRP on BitBuy is a positive development for the XRP community. It is possible that other exchanges will follow suit as the Ripple vs. SEC case draws to a close. However, it is also possible that some exchanges will wait to see how the ruling shakes out before making a decision.
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