Canadian crypto exchange becomes first to relist XRP increasing pressure on Coinbase

XRP

A Canadian cryptocurrency exchange, known as Newton Crypto, is relisting XRP. Is this the beginning of a big wave of token returns to America’s leading platforms?

Newton Crypto and XRP

Representatives of one of Canada’s best-known cryptocurrency exchanges have decided to bring back the XRP trading option. The information was revealed on Twitter on Wednesday, November 2, by Newton Crypto co-founder and CEO Dustin Walper:

“Surprise! We have reintroduced XRP on Newton Crypto.”

Reactions to this news, however, turned out to be mixed. Newton Crypto has decided to delist XRP early in December 2021. In turn, by January 19, 2022, users had to transfer their XRP to other exchanges, or external wallets. The platform’s representatives thus cited the unclear legal situation against XRP, due to a lawsuit brought by the SEC. However, as many in the Ripple community rightly point out, the Canadian exchange is not subject to US jurisdiction, making its reaction to the situation at the time downright unjustified.

Will Coinbase be next?

Newton Crypto turns out to be the first among exchanges that, having once removed the possibility of XRP trading, are restoring it again. This raises questions as to whether other platforms will follow suit. Strong pressure is being put on Coinbase, for example. Rumors on the matter surfaced as early as last April. They triggered a huge rally in the token, driving its price to less than $2.

Given that the SEC vs. Ripple case is gaining momentum, and seems to be coming to an end, more and more XRP supporters are expecting other exchanges to make a similar move. However, it is difficult to suppose that this could actually happen in the current situation. Expect both Coinbase and other cryptocurrency trading platforms to wait until a court verdict is announced before making a final decision.

XRP chart very bullish

In the meantime, XRP in relation to the USD is presenting itself very well. Here we see many factors in favor of increases. These include a bullish RSI divergence, a clearly bullish MACD momentum, as well as a golden cross made between the 50-day and 200-day moving averages. These kinds of technical conditions, accompanied by positive news, both from the courtroom and from the stock markets, could lead to a continuation of the movements initiated in September.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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