Lykke, a cryptocurrency exchange based out of Switzerland is the first exchange that has decided to re-list XRP. CEO, Richard Olsen took to Twitter to claim that:
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.
On 18 January, Lykke had halted XRP trading and deposits, due to the US Securities and Exchange Commission’s lawsuit against Ripple. After the news of the lawsuit broke, other major exchanges like Coinbase and Binance US had also halted XRP trading.
XRP supporters had earlier taken to Twitter to urge crypto exchanges to “Relist XRP” a hashtag that went viral on the social media app. It was a top-trending topic in the Netherlands, with more than 35,000 tweets about the same. Meanwhile, in the US, one Twitter user pointed out:
— CryptoBull2020 (@CryptoBull2020) March 21, 2021
A possible reason why XRP supporters have been actively attempting to make exchanges relist the asset could be due to new developments in the Ripple-SEC case. On 23 March, the judge questioned the SEC attorney that, based on his theory, “everyone who sold XRP – including you and me – are selling illegal securities”. The SEC lawyer responded, “no, under Section 4, only Ripple and affiliates of Ripple can have sold XRP illegally”, and that “everyone who sold XRP” was not selling “illegal securities”.
The statements by the SEC lawyer can be interpreted that exchanges based out of the US will not be held liable for the sale of XRP. However, only time will tell if the US exchanges “relist” the popular altcoin.
Earlier, XRP petitioners even claimed that due to the lawsuit against Ripple, they suffered “multi-billion-dollar” losses, a reason why they attempted to amend the SEC’s complaint about the status of XRP.
At the time, regulators stated the investors cannot prove that crypto exchanges “will reverse course, or that XRP’s price will appreciate, should the Commission make the amendment.
At press time, XRP was trading at $0.549810 and has been up by 9.3% in the past 24 hours.
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