Ripple: Loyal fan community campaigns for XRP rehabilitation
An XRP Army social media campaign aims to motivate crypto exchanges to resume trading XRP. Many had cancelled their Ripple offerings in light of the SEC complaint. A first resumption has already taken place.
In the course of the legal dispute between Ripple and the SEC, many crypto exchanges have suspended trading with XRP. Nevertheless, the price was able to increase significantly recently, while the prices of other Crypto Genius scam cryptocurrencies tended to turn downwards. One reason for this could be a campaign that loyal Ripple fans have started under the hashtag #RelistXRP. The aim is to make trading with XRP possible again. The fan community is also called the „XRP Army“ by the scene. They feel it is unfair that the exchanges have taken Ripple (XRP) out of their ranges due to the legal wrangling with the SEC.
In her view, the ongoing legal proceedings should not affect trading in the digital asset. Even though it is not a crypto exchange, the loss of business partner MoneyGram has certainly hurt Ripple among the most. However, there is still hope for a resumption of business relations should the dispute with the SEC turn out to be a good one.
Ripple had recently been advertising on its own behalf, touting its network as the ideal solution for the cross-border use of CBDCs. It is argued that Ripple’s network plays a crucial role in changing the dynamics of cross-border payments.
SBI Holdings remains loyal to Ripple
Ripple CEO Brad Garlinghouse always expresses calmness in the face of the legal dispute. For example, he recently went on record to say that the legal proceedings would have no impact on business with its business partners in Asia. Ripple partners in Asia such as SBI Holdings have maintained their support despite the difficult legal battle.
In Japan, XRP continues to be traded on crypto exchanges, and is explicitly registered there as „cryptocurrency assets“ rather than „securities“. This is precisely the point of contention in the dispute with the US Securities and Exchange Commission (SEC). The latter had recently intensified its complaint and claimed that Garlinghouse and co-founder Larsen had generated USD 159 million and USD 450 million respectively in proceeds from their XRP sales after the complaint had already been filed.
On Twitter, the RelistXRP initiative has already reported its first success. As a screenshot shows, the Swiss crypto exchange lyyke is the first to resume trading XRP. Registered users received an email announcing this step. Now the community is waiting for other trading venues to emulate lykke.