Potential XRP investors from the United States have found themselves unable to purchase the cryptocurrency on the popular platform Crypto.com. This circumstance is not exclusive to Crypto.com, with many leading cryptocurrency exchanges in the country reportedly devoid of XRP listings.
However, Uphold, a digital money platform, has emerged as an exception to this trend. Despite the ongoing legal battle and market uncertainties surrounding XRP, Uphold has chosen to keep XRP listed on its platform, providing a viable alternative for investors looking to purchase this cryptocurrency.
Crypto.com users are advised to check the official website or reach out to customer support for the most accurate and up-to-date information regarding the availability of XRP for purchase on their platform, especially considering the fact that cryptocurrency listings can change with shifting regulatory landscapes.
Ripple’s Regulatory Hurdle: Behind the XRP Delisting
The complications faced by XRP in the U.S. market originate from the ongoing legal proceedings between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, the creators of XRP.
The SEC has filed a lawsuit against Ripple Labs, arguing that the company’s sale of XRP was, in fact, the sale of unregistered securities. This legal action has created widespread uncertainty among exchanges about potential regulatory and legal consequences, prompting many to delist XRP as a risk mitigation strategy.
The delisting has triggered a drop in XRP’s liquidity and trading volume, impacting its overall market activity. Despite Ripple Labs refuting the SEC’s allegations and persisting in its defense, the continuing legal ambiguity has led exchanges to remain cautious and suspend XRP trading until further clarity emerges.
A Positive Turn: XRP Could Soon Be Relisted on Top U.S Exchanges
A recent court ruling that declared XRP as not a security might provide the much-needed breakthrough for XRP. This ruling may help clear the regulatory clouds surrounding XRP, which may pave the way for its relisting on top U.S. exchanges.
In light of this positive development, exchanges such as Crypto.com, Coinbase, Kraken, and Gemini might reconsider their position and potentially relist XRP, which could offer renewed access to U.S. investors who are looking to buy this cryptocurrency.
Although the situation has significantly impacted XRP trading in the U.S., it’s important to note that this does not necessarily reflect a global delisting. Exchanges outside the U.S. may continue to support XRP trading, and the circumstances may shift as the legal proceedings progress and regulatory clarity is established.
