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Lykke, a cryptocurrency exchange located in Switzerland, is the first to vote to re-list XRP. Richard Olsen, CEO, took to Twitter to claim:
“We are thrilled to RelistXRP – bridging the gap of traditional finance with the new world of blockchain is our mantra and #XRP is foundational to achieving this goal; it is a milestone that regulation allows us to relist, a big step forward.”
Due to the US Securities and Exchange Commission’s case against Ripple, Lykke suspended XRP trading and deposits on January 18. Following the announcement of the litigation, other large exchanges, including Coinbase and Binance US, suspended XRP trading.
XRP backers had previously taken to Twitter to request cryptocurrency exchanges to “Relist XRP,” a hashtag that quickly went viral on the social media platform. It was a trending subject in the Netherlands, with over 35,000 tweets about it. Meanwhile, one Twitter user in the United States pointed out:
— CryptoBull2020 (@CryptoBull2020) March 21, 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. On March 23, the judge asked the SEC attorney if, according to his theory, “everyone who sold XRP – including you and me – is trading unlawful securities.” 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.
Previously, XRP petitioners alleged that they incurred “multi-billion-dollar” damages as a result of the Ripple litigation, which is why they sought to amend the SEC’s complaint regarding the status of XRP.
At the time, regulators claimed that investors could not prove that crypto exchanges would “reverse direction” or that the price of XRP would increase if the Commission made the move.
At press time, XRP was trading at $0.549810, up 9.3 percent in the previous 24 hours.