XRP Price Climbs 14% in 10 Minutes After False Relisting Alarm

XRP price rose to a new daily high of 1.24 after a sharp 14% gain within 10 minutes before falling to the $1.10 level. The sudden spike in the price of the seventh-largest cryptocurrency was attributed to a false listing alarm on Coinbase Pro. A technical glitch or an error on the Coinbase side led to traders seeing the XRP trading option on the platfrom.

The crypto platform was quick to point out the glitch and clarified they haven’t really re-listed XRP. Back in January post-SEC’s lawsuit against Ripple, most of the crypto platforms delisted XRP to avoid any legal trouble with the SEC. However, now that SEC has threatened Coinbase with a lawsuit over their unreleased lending product, the demand for relisting XRP has increased significantly.

As previously announced, Coinbase has suspended trading in XRP. Due to a technical issue, XRP was temporarily viewable on the Coinbase Pro mobile app for some customers but was not tradeable.

— Coinbase Pro (@CoinbasePro) September 10, 2021

XRP proponents are making sure to remind everyone how the crypto community didn’t stand with them when the SEC came for them. These proponents have demanded that at least now exchanges and platforms especially Coinbase should start relisting XRP to stick it to the SEC.

Hey @Coinbase @Brian_Armstrong are you gonna piss off the SEC by relisting #XRP?

— XRPcryptowolf (@XRPcryptowolf) September 10, 2021

Can XRP Regain Lost Glory?

The crypto community had high expectations from the new SEC chief Gary Gensler given his understanding of the crypto ecosystem, but since his appointment, he has continued on the legacy of his predecessor Jay Clayton and many would argue he has gone a step further by attacking Proof-of-Stake crypto tokens targeting Defi in particular.

XRP price had tumbled to a 3-year low as the lawsuit surfaced followed by dozens of platforms delisting the altcoin. When everyone called it an end of the road for the altcoin, it rose to a new three-year high as the lawsuit progressed, proving everyone wrong. Now that settlement speculations are high and the second leg of the bull run has begun, XRP looks well set to record new highs where many believe it would easily go past the ATH of $3.83.

The SEC officially admits that it never told anyone that XRP was a security, prior to the lawsuit filing. https://t.co/ZOLhY3qZ3I

— Leonidas (@LeoHadjiloizou) September 9, 2021

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