San Francisco-based cryptocurrency exchange Coinbase is rumored to be reintroducing XRP trading on its platform. However, since a community member posted a tweet on April 2 on the major US exchange to relist XRP, there has been no positive confirmation on that - at least not yet.
Coinbase is said to have started backend work to relist XRP
In December 2020, the United States Securities and Exchange Commission (SEC) hired Ripple and its top executives Brad Garlinghouse and Chris Larsen to conduct an unregistered stock offering - XRP is the unregistered stock in this case.
In response to the $ 1,3 billion lawsuit, many exchanges and trading platforms, including Coinbase, have stopped trading XRP while others have removed the cryptocurrency en masse.
Rumors started when a Twitter user named Krish xrp hinted that Coinbase may be ready to relist Ripple's digital asset. Also, attach photographic evidence. Krish xrp pointed out that the backend work is already underway.
Predictably, this post caught the attention of the XRP Army, which is excited about a possible relist from Coinbase. Overall, it is giving XRP investors hope that major cryptocurrency exchanges can follow suit and resume XRP trading.
Exchanges that re-report XRP would not be formally contravening any law
Last month, there was a positive development in the SEC vs Ripple case. During a virtual hearing on the SEC's request to acquire the personal financial records of Ripple CEO Brad Garlinghouse and President Chris Larsen, attorney Jeremy Hogan pointed out that some surprising comments were made.
The United States Securities and Exchange Commission (SEC) inadvertently indicated that cryptocurrency exchanges that resume trading XRP would not be breaking any laws.
#RelistXRP goes viral on Twitter
In particular, the agency noted that under Section 4 of the Securities Act, only Ripple and its affiliates are responsible for illegal XRP sales.
Soon after, #RelistXRP became trending on Twitter in countries like the US, Australia, and the UK. The online campaign aims to persuade cryptocurrency exchanges around the world that had removed XRP to relist the token.
Have you ever traded XRP? Would you like to do it but don't know where to start? Then, you might want to take a look at trading platforms like Bitcoin Pro, which allow even the less experienced to start trading cryptocurrencies in a simple way. Obviously, you must always pay attention to your investments, since the high volatility of cryptos always puts any capital at great risk.