top of page
  • Mathew Jacob

XRP Relisted on Canadian Exchange Bitbuy

In a significant development for the cryptocurrency industry, XRP, the digital asset associated with Ripple, has been relisted on the Canadian exchange Bitbuy. This move comes after a long period of regulatory uncertainty and a legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The relisting of XRP on Bitbuy marks a significant turning point for the cryptocurrency and its global community of supporters.

XRP, which was first launched in 2012, quickly gained popularity among cryptocurrency enthusiasts due to its efficient cross-border payment capabilities. It aimed to revolutionize the traditional banking system by facilitating faster and cheaper international transactions. However, in December 2020, the SEC filed a lawsuit against Ripple Labs, alleging that the company had conducted an unregistered securities offering by selling XRP. This lawsuit sent shockwaves through the crypto industry and resulted in numerous exchanges delisting XRP to avoid any potential legal complications.

The delisting of XRP from major exchanges severely impacted its liquidity and market value, causing disappointment and frustration among XRP holders. The community rallied together to support Ripple Labs and defend the legitimacy of XRP, maintaining that it was not a security but a digital asset with utility. Despite the challenges, Ripple Labs continued to expand its global partnerships and pursue its mission of transforming the cross-border payments industry.

In March 2021, Ripple Labs scored a significant legal victory when a U.S. federal judge ruled that XRP should not be considered a security. This ruling provided some clarity and reassurance to the XRP community, and it paved the way for the relisting of XRP on various exchanges. Bitbuy, one of Canada's leading cryptocurrency platforms, took the initiative to reintroduce XRP to its trading platform, recognizing the importance of offering diverse digital assets to its users.

Bitbuy's decision to relist XRP showcases its confidence in the digital asset and its potential for future growth. XRP's relisting on Bitbuy opens up new opportunities for Canadian investors and traders who have been eagerly waiting to have access to XRP once again. It also signifies a positive step forward for the broader cryptocurrency industry, highlighting the resilience and adaptability of digital assets in the face of regulatory challenges.

The relisting of XRP on Bitbuy will likely have a positive impact on XRP's market value, as it increases accessibility and liquidity for Canadian users. Furthermore, it sets a precedent for other exchanges that delisted XRP to reconsider their decisions and potentially relist the digital asset. The restoration of XRP's availability on major exchanges would undoubtedly bolster its adoption and further validate its utility and legitimacy.

While the legal battles and regulatory challenges may not be completely resolved, the relisting of XRP on Bitbuy represents a significant milestone for the XRP community and the broader cryptocurrency ecosystem. It signifies a step toward regulatory clarity and recognition of XRP's distinct status as a digital asset. As the cryptocurrency industry continues to evolve, the relisting of XRP on Bitbuy serves as a reminder of the resilience and determination of the XRP community and its unwavering belief in the potential of blockchain technology to transform the world of finance.



bottom of page