CEX.IO, a prominent digital asset exchange, announced the relisting of Ripple-affiliated XRP token for its U.S.-based users earlier this Wednesday.
This move allows U.S. users to buy, sell, convert, deposit, and withdraw XRP across CEX.IO’s product ecosystem.
A huge comeback
Major exchanges have relisted XRP, the native token of the Ripple protocol, earlier this year following a pivotal U.S. court ruling.
The ruling by Federal District Judge Analisa Torres stated that XRP “is not necessarily a security on its face,” except when sold to raise funds from institutions.
This decision, which did not directly concern secondary sales of XRP, has significantly bolstered the confidence of crypto exchanges to offer the token again. Kraken, Crypto.com, Coinbase, and Bitstamp were among the first to relist XRP.
As reported by U.Today, the wave of relistings also significantly boosted the XRP price, pushing the controversial token to a year-to-date high of $0.938.
XRP’s unique status
Stuart Alderoty, Ripple’s top lawyer, recently stressed XRP’s distinctive status in the U.S. cryptocurrency market that was acquired 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 U.S., sets the Ripple-affiliated apart from other digital tokens that are yet to see this kind of regulatory clarity.
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