Long Beach (CoinChapter): XRP token supporters have started an online movement to pressure crypto exchanges to relist XRP. Known as the XRP Army, the supporters got the hashtag ‘RelistXRP’ trending in multiple countries around the world.
According to Twitter user #MackAttackXRP, the hashtag was trending in the Netherlands earlier today. Additionally, it was also gaining traction in the United States, United Kingdom, and Australia. Data shows more than 35,000 tweets with the hashtag in the Netherlands, 30,000 in the US, and 24,000 in Australia.
Many crypto exchanges chose to delist XRP in the midst of a lawsuit filed against Ripple by the SEC. In December, the SEC charged Ripple CEO Brad Garlinghouse and co-founder Chris Larsen with conducting an “unregistered, ongoing digital asset securities offering” for their XRP sales.
As a result many exchanges including Coinbase, OKCoin, and Binance chose to suspend trading or delist the XRP token completely. The lawsuit initially looked like the end for XRP, but as the trial has gone on, things have seemingly turned in Ripple’s favor.
Ripple Counsel Reveals SEC Ignored Queries By Exchanges On The Status Of XRP
In the first hearing, Ripple counsel revealed that SEC ignored queries by numerous exchanges on the status of XRP. The SEC allowed them to trade XRP without warning despite the inquiries. It was additionally revealed in a later hearing that Ripple and its associates are liable under section 4 of registration requirements, thus offering in a way that any other exchange like Coinbase and Binance won’t violate securities law if they relist XRP.
SEC’s legal counsel said that in Section 4 of the Securities Act, only Ripple, and its affiliates could be accused of illegal sales. This was a major revelation and one that may have been the spark towards the social media push. In the lawsuit itself, Ripple now seems to have the upper hand in the short-term.
The price has benefitted from all of this as well. XRP has risen nearly 18% amidst the revelations and social media push.