folks, let's talk about an XRP relisting. The beloved cryptocurrency that's been making waves in the crypto community since its inception and causing quite a stir with the SEC. In a world where economic freedom is under threat and staking is the new taboo, it's time we had a conversation about XRP and why it deserves a second chance.
The Delisting Dilemma
In 2020, the crypto world was hit with a curveball when Coinbase - one of the biggest and most trusted crypto exchanges - made the tough decision to delist XRP.
This was in response to the Securities and Exchange Commission (SEC) taking legal action against Ripple, the company behind XRP, alleging that they had violated securities laws by selling XRP tokens. This move sent shockwaves through the crypto community and left many XRP supporters feeling lost and defeated while emboldening the die-hards.
The XRP Community Fights Back
But, my friends, the XRP community is not one to back down easily. In the face of adversity, they've been fighting to get XRP relisted on major crypto exchanges, using the hashtag #relistXRP on social media to spread their message.
They argue that XRP has not been declared a security and shouldn't be, following more than two years of Ripple's legal battle with the SEC.
Furthermore, they point to a recent legal win involving the sale of LBRY Credits (LBC) tokens, which saw the SEC admit on the record that the sale of LBC tokens in the secondary market does not constitute a security. This, they say, is proof that exchanges like Coinbase can offer LBC trading without any legal issues, and that the same should apply to XRP.
The Argument For XRP Relisting
So, why should XRP be relisted on major crypto exchanges? For starters, XRP is a major player in the crypto world, consistently ranking as one of the top cryptocurrencies by market value.
It was launched in 2012 as a cryptocurrency native to the Ripple protocol, with the aim of providing financial tools like a cross-border payment method.
Despite its ongoing legal battle with the SEC, XRP has maintained its position as a leading player in the crypto world, proving its resilience and popularity among crypto enthusiasts.
Moreover, relisting XRP would send a strong message to the crypto community that exchanges are committed to economic freedom and willing to fight against government overreach.
As Coinbase CEO Brian Armstrong stated, "We will keep fighting for economic freedom - our mission at Coinbase. Some days being the most trusted brand in crypto means protecting our customers from government overreach."
The Current State of the Banking System
Let's be real here, the current banking system ain't exactly a well-oiled machine. Cross-border payments take forever and a day, and often come with steep fees. It's a slow, outdated system that hasn't kept pace with the rest of the world.
Enter XRP. Its primary goal is to provide superior financial tools like a cross-border payment method. But, it's the on-demand liquidity aspect that sets XRP apart from the rest of the pack.
XRP's On-Demand Liquidity
With XRP's on-demand liquidity, cross-border payments can be completed in just a few seconds, without the need for pre-funding.
This means that banks and financial institutions can send money to each other in real-time, without having to wait for funds to clear.
It's a game-changer, my friend.
Think about it - if you're a small business that relies on overseas suppliers, you could get paid and make payments faster, without having to worry about slow, costly wire transfers. The impact on global commerce would be a huge and revolutionary impact.
The Time is Now
Folks, the time is now for major crypto exchanges to step up and do what's right. It's time for them to relist XRP and show their commitment to economic freedom, customer protection, and the crypto community as a whole. Let's make some noise and demand that XRP be given the chance it deserves. The XRP community, and the crypto world as a whole, is watching and waiting. #relistXRP
Matt is the founder of TechMalak. When he's not buried face-deep in the crypto charts you can find him tinkering with the latest tech gadgets and A. I tools. He's a crypto investor and entrepreneur. He uses a mixture of A.I and human thought and input into all his articles on TechMalak, further merging man with machine.