XRP made a re-entry onto BitBuy, one of Canada’s leading trading platforms. This move marks the second instance of a previously delisted XRP being reinstated, as anticipation continues to mount over the impending resolution of the legal dispute between Ripple and the US Securities and Exchange Commission (SEC).
From Delisting to Relisting: A Quiet Transition
BitBuy first decided to drop XRP from its platform over two years ago, a move that was accompanied by an official announcement. However, the recent decision to reintroduce XRP was made without fanfare. It was only when Mason Versluis, a well-known member of the XRP community, took to Twitter, that the relisting caught everyone’s attention.
On closer inspection, the BitBuy mobile app now confirms that it supports XRP once more, with all trading features restored. To further cement this decision, BitBuy has recently made revisions to its official Crypto Assets Statement.
XRP’s Current Market Standing
At press time, XRP’s value stands at $0.47. The digital currency attempted to break the 20-day EMA of $0.48 on July 11 but was stopped by bearish investors.
The bulls must overcome resistance at the 20-day EMA and the 50-day SMA of $0.49 to regain control. If successful, XRP could garner momentum, pushing its value up to $0.55, and potentially even reaching $0.58.
However, If the current value sharply falls, XRP could find itself testing the strong support at $0.5, a level that has held firm twice before. The bulls are expected to put up a strong defense here, but if they fail, XRP could tumble further to a value of $0.43.
With BitBuy reestablishing XRP trading, Ripple’s digital currency continues its comeback journey. As we continue to anticipate the outcome of the Ripple vs. SEC legal feud, the reinstatement of XRP trading on prominent platforms like BitBuy is seen as a positive sign by the XRP community.
Source: https://coinpedia.org/altcoin/ripple-news-xrp-relisted-on-prominent-canadian-exchange-bitbuy/