CEX.IO, a leading digital asset exchange, Announced the new listing of the Ripple-affiliated XRP token for its US-based users earlier this Wednesday.
This move allows US users to buy, sell, convert, deposit and withdraw XRP across the CEX.IO product ecosystem.
A great comeback
Major exchanges relisted XRP, the native token of the Ripple protocol, earlier this year following a pivotal ruling by a US court.
The ruling by Federal District Judge Analisa Torres established that XRP “is not necessarily a prima facie security,” except when it is sold to raise funds from institutions.
This decision, which did not directly affect secondary sales of XRP, has significantly boosted the confidence of crypto exchanges to offer the token again. Kraken, Crypto.com, Coinbase, and Bitstamp were among the first to relist XRP.
As U.Today reported, the wave of new listings also significantly boosted the price of XRP, taking the controversial token to a year-to-date high of $0.938.
The unique status of XRP
Stuart Alderoty, Ripple’s lead lawyer, recently highlighted XRP’s distinctive status in the US cryptocurrency market, gained following the court ruling that classified secondary sales of XRP as non-securities.
This unique regulatory position, which XRP shares only with Bitcoin in the US, distinguishes Ripple affiliates from other digital tokens that have yet to see this type of regulatory clarity.
