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Along with Ripple executives, several supporters have come out in favour of XRP. Recently, XRP petitioners alleged that former Commissioner Jay Clayton “knowingly and purposefully” triggered “multi-billion-dollar” damages to XRP holders as a result of the Ripple litigation. They intended to change the SEC’s concern about XRP’s position.
Regulators claimed that investors cannot prove that if the Commission makes the amendment, crypto exchanges will “reverse direction” or that the price of XRP will rise.
XRP fans have already taken to Twitter to encourage cryptocurrency exchanges to “Relist XRP,” a hashtag that has gone viral on the social media app. It was a trending subject in the Netherlands, with over 35,000 tweets about it.
— 🇳🇱 MackAttack XRP 🇳🇱 (@MackAttackXRP) March 22, 2021
Meanwhile, on March 21, Google Trends data revealed a spike in the search language ‘relist XRP.’
Following the Commission’s complaint against Ripple, which primarily claimed that XRP is a security, several US crypto exchanges, including Coinbase, delisted the asset. According to an XRP group member, this list contains other exchanges that have withdrawn the commodity from their websites.
Crypto exchanges – you know what you need to do – relist XRP ‼️@coinbase @BittrexExchange @Bitstamp @OKCoin @BinanceUS @cryptocom @wirexapp @NexoFinance @eToro @cex_io @blockchain @CoinGatecom #xrp #relistxrp @Ripple pic.twitter.com/4VZl0Wuxe0
— XRP_Cro (@stedas) March 22, 2021
A new development in the Ripple-SEC case may be one of the reasons why XRP supporters have been aggressively attempting to have exchanges relist the asset. Earlier today, the judge grilled the SEC counsel, claiming that “everyone who sold XRP – including you and me – is trading illicit securities” based on his theory. According to the SEC counsel, “no, under Section 4, only Ripple and its agents would have sold XRP illegally,” and that “everyone who sold XRP” was not trading “illegal securities.”
According to the SEC lawyer’s claims, exchanges based in the United States would not be held responsible for the selling of XRP. However, only time can tell if the famous altcoin is “relisted” on US exchanges.
This will not be the first effort to protect Ripple’s native asset, according to XRP supporters. Previously, over 6,000 XRP holders petitioned to be included as third-party claimants in the case, but their request was denied.
At the time of publication, XRP was trading at $0.587919, up 2.4 percent in the previous hour and 16.6 percent and 32.6 percent in the regular and weekly timeframes, respectively.