BinanceUS and Crypto.com have announced their decision to relist XRP, following in the footsteps of leading cryptocurrency exchanges such as Coinbase, Gemini, and Kraken.
Binance is reporting breaking news.US declaring that XRP has been formally relisted on the important cryptocurrency exchange. The XRP/USDT Advanced Trading pair will start trading today at 6 AM PDT / 9 AM EDT, and Ripple deposits are currently available. The relisting was announced on Twitter by the U.S. division of Binance, which did this to inform the larger crypto community and guarantee maximum publicity.
In line with other significant companies in the cryptocurrency sector, Crypto.com has likewise decided to relist Ripple. The exchange raise a voice, “Fortune has Favoured the Brave!” in a joyful tweet on July 14. On Crypto.com, users may now exchange Ripple for a number of fiat currencies, including USD, EUR, GBP, and more than 20 others. The XRP community has reached a key milestone with the opening of deposits and withdrawals. Kris Marszalek, the CEO, passionately engaged the community on Twitter, reiterating the goodwill around XRP’s relisting.
XRP’s Soaring Price And Trading Metrics
The recent ruling by the Southern District Court of New York, affirming that Ripple is not a security, has sent shockwaves throughout the cryptocurrency market. In a matter of hours, XRP’s price experienced a meteoric rise of 60%. The court’s decision emphasized that Ripple’s programmatic sales of XRP, as well as its other distributions, should not be considered investment contracts. However, it is worth noting that institutional sales of Ripple are still deemed investment contracts, and thus, they remain subject to securities laws.
Presently, Ripple is trading at $0.78, with a 24-hour low and high of $0.47 and $0.88, respectively. This surge represents an 87% increase within a single day, highlighting the extraordinarily bullish sentiment surrounding Ripple. Furthermore, trading volume has skyrocketed by a staggering 1700%, accompanied by a 66% surge in market capitalization over the past 24 hours.
Another notable development within the Ripple ecosystem is the surge in whale transactions. In the year 2023, the XRP Network recorded its highest number of whale transactions to date. Over the past 24 hours alone, the network has registered an impressive 637 whale transactions, each exceeding a value of $100,000.
As the Ripple relisting trend gains momentum, it remains to be seen how this renewed interest will shape the future of Ripple’s digital asset. With major players like Binance.US, Crypto.com, Coinbase, and others recognizing the positive outcome of Ripple’s legal battle, the XRP community is embracing a newfound optimism for the path ahead.
